Pfizer (NYSE:PFE) Rating Increased to Strong-Buy at Hsbc Global Res

Pfizer (NYSE:PFE) was upgraded by equities research analysts at Hsbc Global Res to a “strong-buy” rating in a note issued to investors on Monday,Zacks.com reports.

PFE has been the topic of several other research reports. Truist Financial lowered their target price on Pfizer from $36.00 to $32.00 and set a “buy” rating on the stock in a research note on Wednesday, December 18th. UBS Group lowered their target price on Pfizer from $31.00 to $29.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Bank of America reaffirmed a “neutral” rating and set a $29.00 target price on shares of Pfizer in a research note on Tuesday, December 10th. Citigroup lowered their target price on Pfizer from $30.00 to $29.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 28th. Finally, Guggenheim reiterated a “buy” rating on shares of Pfizer in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Pfizer has an average rating of “Moderate Buy” and an average target price of $31.92.

Pfizer Trading Down 1.0 %

Shares of PFE opened at $25.73 on Monday. The business’s 50-day moving average price is $26.28 and its 200 day moving average price is $27.18. The stock has a market capitalization of $145.79 billion, a P/E ratio of 18.24, a P/E/G ratio of 0.64 and a beta of 0.61. Pfizer has a 1-year low of $24.48 and a 1-year high of $31.54. The company has a current ratio of 1.00, a quick ratio of 0.73 and a debt-to-equity ratio of 0.63.

Pfizer (NYSE:PFE) last issued its quarterly earnings results on Tuesday, February 4th. The biopharmaceutical company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.15. Pfizer had a return on equity of 19.47% and a net margin of 12.62%. The firm had revenue of $17.76 billion for the quarter, compared to analysts’ expectations of $17.26 billion. During the same quarter last year, the business posted $0.10 EPS. Pfizer’s revenue was up 24.7% on a year-over-year basis. Analysts expect that Pfizer will post 2.95 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Ronald E. Blaylock bought 19,457 shares of Pfizer stock in a transaction that occurred on Thursday, February 13th. The stock was purchased at an average cost of $25.65 per share, for a total transaction of $499,072.05. Following the acquisition, the director now owns 27,707 shares in the company, valued at $710,684.55. This trade represents a 235.84 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.06% of the company’s stock.

Institutional Investors Weigh In On Pfizer

Several hedge funds have recently modified their holdings of PFE. Norges Bank bought a new stake in shares of Pfizer in the fourth quarter valued at approximately $2,328,986,000. Charles Schwab Investment Management Inc. raised its stake in shares of Pfizer by 19.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 155,459,101 shares of the biopharmaceutical company’s stock valued at $4,124,330,000 after purchasing an additional 25,315,159 shares in the last quarter. Starboard Value LP acquired a new position in shares of Pfizer in the fourth quarter valued at $407,730,000. Raymond James Financial Inc. acquired a new position in shares of Pfizer in the fourth quarter valued at $274,694,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Pfizer by 22.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 38,068,879 shares of the biopharmaceutical company’s stock valued at $1,101,713,000 after purchasing an additional 6,977,587 shares in the last quarter. 68.36% of the stock is owned by institutional investors.

About Pfizer

Pfizer Inc discovers, develops, manufactures, markets, distributes, and sells biopharmaceutical products in the United States, Europe, and internationally. The company offers medicines and vaccines in various therapeutic areas, including cardiovascular metabolic, migraine, and women's health under the Eliquis, Nurtec ODT/Vydura, Zavzpret, and the Premarin family brands; infectious diseases with unmet medical needs under the Prevnar family, Abrysvo, Nimenrix, FSME/IMMUN-TicoVac, and Trumenba brands; and COVID-19 prevention and treatment, and potential future mRNA and antiviral products under the Comirnaty and Paxlovid brands.