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

Pfizer Inc. (NYSE:PFE) fell 1% on Thursday . The company traded as low as $28.28 and last traded at $28.33. 6,169,221 shares changed hands during mid-day trading, a decline of 83% from the average session volume of 37,327,422 shares. The stock had previously closed at $28.61.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on PFE shares. Wells Fargo & Company boosted their target price on Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 31st. Daiwa Capital Markets raised Pfizer from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $28.00 to $34.00 in a research note on Wednesday, August 7th. StockNews.com cut shares of Pfizer from a “buy” rating to a “hold” rating in a research note on Tuesday. UBS Group increased their price target on shares of Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Finally, Daiwa America raised shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Nine research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $34.54.

Pfizer Stock Performance

The company has a current ratio of 0.86, a quick ratio of 0.60 and a debt-to-equity ratio of 0.65. The firm’s fifty day moving average price is $29.17 and its 200-day moving average price is $28.31. The company has a market cap of $161.95 billion, a P/E ratio of -476.33, a P/E/G ratio of 1.25 and a beta of 0.67.

Pfizer (NYSE:PFE) last announced its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.14. The company had revenue of $13.28 billion during the quarter, compared to the consensus estimate of $12.96 billion. Pfizer had a positive return on equity of 8.42% and a negative net margin of 4.66%. The company’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter last year, the company earned $0.67 EPS. As a group, research analysts forecast that Pfizer Inc. will post 2.66 EPS for the current fiscal year.

Institutional Investors Weigh In On Pfizer

Institutional investors have recently added to or reduced their stakes in the stock. Olistico Wealth LLC acquired a new position in Pfizer during the second quarter worth $25,000. MFA Wealth Advisors LLC bought a new stake in Pfizer during the second quarter worth about $29,000. Quarry LP bought a new position in shares of Pfizer in the second quarter valued at approximately $31,000. Creekmur Asset Management LLC acquired a new position in shares of Pfizer in the 4th quarter worth approximately $32,000. Finally, Trivant Custom Portfolio Group LLC increased its holdings in Pfizer by 100.0% during the 1st quarter. Trivant Custom Portfolio Group LLC now owns 1,200 shares of the biopharmaceutical company’s stock valued at $33,000 after purchasing an additional 600 shares in the last quarter. 68.36% of the stock is owned by institutional investors and hedge funds.

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.