Point72 Asia Singapore Pte. Ltd. Acquires Shares of 123,373 Pfizer Inc. (NYSE:PFE)

Point72 Asia Singapore Pte. Ltd. bought a new stake in Pfizer Inc. (NYSE:PFE) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 123,373 shares of the biopharmaceutical company’s stock, valued at approximately $3,452,000. Pfizer accounts for 0.7% of Point72 Asia Singapore Pte. Ltd.’s portfolio, making the stock its 28th biggest position.

Other institutional investors and hedge funds have also modified their holdings of the company. Olistico Wealth LLC bought a new stake in Pfizer in the 2nd quarter valued at about $25,000. MFA Wealth Advisors LLC acquired a new stake in Pfizer during the second quarter worth approximately $29,000. Creekmur Asset Management LLC bought a new position in Pfizer during the 4th quarter worth $32,000. Trivant Custom Portfolio Group LLC raised its holdings in Pfizer by 100.0% in the 1st quarter. Trivant Custom Portfolio Group LLC now owns 1,200 shares of the biopharmaceutical company’s stock valued at $33,000 after acquiring an additional 600 shares in the last quarter. Finally, Financial Connections Group Inc. bought a new stake in shares of Pfizer during the 2nd quarter valued at $34,000. 68.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently commented on PFE shares. Daiwa America raised Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $45.00 price target on shares of Pfizer in a report on Monday, September 16th. StockNews.com raised shares of Pfizer from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. UBS Group upped their target price on Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Finally, Barclays lifted their price target on Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 31st. Eight investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $34.54.

Pfizer Price Performance

Shares of PFE stock opened at $29.52 on Wednesday. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.86 and a quick ratio of 0.60. The business’s 50-day moving average price is $29.36 and its 200-day moving average price is $28.28. Pfizer Inc. has a 12 month low of $25.20 and a 12 month high of $34.11.

Pfizer (NYSE:PFE) last posted its earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.46 by $0.14. Pfizer had a negative net margin of 4.66% and a positive return on equity of 8.42%. The business had revenue of $13.28 billion for the quarter, compared to the consensus estimate of $12.96 billion. During the same period last year, the company earned $0.67 EPS. The firm’s revenue was up 2.1% compared to the same quarter last year. As a group, equities analysts expect that Pfizer Inc. will post 2.66 earnings per share for the current year.

Pfizer Company Profile

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.