Pfizer (NYSE:PFE) Stock Price Up 0.4% – Here’s What Happened

Pfizer Inc. (NYSE:PFE) shares shot up 0.4% during mid-day trading on Wednesday . The company traded as high as $26.50 and last traded at $26.42. 6,404,602 shares changed hands during mid-day trading, a decline of 82% from the average session volume of 35,703,009 shares. The stock had previously closed at $26.31.

Wall Street Analysts Forecast Growth

A number of research firms have commented on PFE. Bank of America restated a “neutral” rating and set a $29.00 price target on shares of Pfizer in a research report on Tuesday, December 10th. Guggenheim reaffirmed a “buy” rating on shares of Pfizer in a research note on Tuesday. Citigroup dropped their price objective on Pfizer from $30.00 to $29.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 28th. Hsbc Global Res raised Pfizer to a “strong-buy” rating in a report on Monday, March 10th. Finally, UBS Group cut their price target on shares of Pfizer from $31.00 to $29.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. One 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 company’s stock. According to MarketBeat.com, Pfizer presently has a consensus rating of “Moderate Buy” and a consensus price target of $31.92.

Pfizer Stock Performance

The firm’s 50-day simple moving average is $26.18 and its two-hundred day simple moving average is $27.07. The stock has a market capitalization of $147.49 billion, a PE ratio of 18.46, a PEG ratio of 0.64 and a beta of 0.61. 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 posted its quarterly earnings results on Tuesday, February 4th. The biopharmaceutical company reported $0.63 earnings per share 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 for the quarter, compared to analyst estimates of $17.26 billion. During the same period in the previous year, the firm earned $0.10 earnings per share. Pfizer’s quarterly revenue was up 24.7% on a year-over-year basis. On average, equities research analysts expect that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Ronald E. Blaylock acquired 19,457 shares of Pfizer stock in a transaction dated Thursday, February 13th. The stock was acquired at an average cost of $25.65 per share, for a total transaction of $499,072.05. Following the completion of the purchase, the director now owns 27,707 shares of the company’s stock, valued at $710,684.55. This represents a 235.84 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.06% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Retirement Wealth Solutions LLC acquired a new stake in shares of Pfizer in the fourth quarter valued at about $26,000. Rialto Wealth Management LLC bought a new stake in Pfizer during the 4th quarter valued at 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% during the fourth quarter. Gould Capital LLC now owns 1,000 shares of the biopharmaceutical company’s stock worth $27,000 after acquiring an additional 493 shares during the period. Finally, Kohmann Bosshard Financial Services LLC acquired a new stake in Pfizer during the fourth quarter worth about $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.