Pfizer (NYSE:PFE) Stock Price Down 1% – Here’s Why

Shares of Pfizer Inc. (NYSE:PFE) traded down 1% during mid-day trading on Friday . The company traded as low as $21.28 and last traded at $21.37. 14,183,509 shares traded hands during trading, a decline of 65% from the average session volume of 40,058,298 shares. The stock had previously closed at $21.59.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on PFE. Citigroup restated a “neutral” rating on shares of Pfizer in a research note on Thursday, March 27th. The Goldman Sachs Group restated a “neutral” rating and set a $25.00 price target (down previously from $32.00) on shares of Pfizer in a research note on Tuesday, April 8th. Hsbc Global Res upgraded shares of Pfizer to a “strong-buy” rating in a research note on Monday, March 10th. UBS Group cut their target price on Pfizer from $28.00 to $24.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 8th. Finally, Truist Financial lowered their price target on Pfizer from $36.00 to $32.00 and set a “buy” rating for the company in a research report on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $31.07.

Pfizer Trading Up 1.4 %

The firm has a market cap of $124.14 billion, a price-to-earnings ratio of 15.52, a price-to-earnings-growth ratio of 0.64 and a beta of 0.67. The company has a quick ratio of 0.73, a current ratio of 1.00 and a debt-to-equity ratio of 0.63. The business has a 50 day moving average of $25.25 and a 200 day moving average of $26.40.

Pfizer (NYSE:PFE) last released its earnings results on Tuesday, February 4th. The biopharmaceutical company reported $0.63 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $17.26 billion. During the same period in the prior year, the firm posted $0.10 earnings per share. The business’s quarterly revenue was up 24.7% compared to the same quarter last year. On average, research analysts forecast that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.

Insider Transactions at Pfizer

In other Pfizer news, Director Ronald E. Blaylock acquired 19,457 shares of the company’s stock in a transaction on Thursday, February 13th. The shares were bought at an average cost of $25.65 per share, for a total transaction of $499,072.05. Following the acquisition, the director now directly owns 27,707 shares of the company’s stock, valued at $710,684.55. This trade represents a 235.84 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.06% of the company’s stock.

Institutional Investors Weigh In On Pfizer

A number of institutional investors have recently modified their holdings of the business. Retirement Wealth Solutions LLC bought a new stake in Pfizer in the 4th quarter valued at about $26,000. Rialto Wealth Management LLC acquired a new position in shares of Pfizer during the fourth quarter worth approximately $26,000. Clarity Asset Management Inc. bought a new position in Pfizer in the 4th quarter worth approximately $27,000. Gould Capital LLC increased its position in Pfizer by 97.2% in the 4th quarter. Gould Capital LLC now owns 1,000 shares of the biopharmaceutical company’s stock valued at $27,000 after acquiring an additional 493 shares during the period. Finally, Kohmann Bosshard Financial Services LLC bought a new stake in Pfizer during the 4th quarter valued at $28,000. Institutional investors own 68.36% of the company’s stock.

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.