Pfizer (NYSE:PFE) Shares Down 1.2% - What's Next?

On Wednesday, shares of Pfizer Inc. (NYSE:PFE) saw a decline of 1.2%, dropping to as low as $25.21 before closing at $25.26. During the trading session, approximately 9,179,062 shares exchanged hands, a significant drop of 76% from the average daily trading volume of 38,366,023 shares. The previous day’s closing price was $25.56.

Recent Analyst Opinions

Recently, several analysts provided updates regarding Pfizer's stock. On August 7th, Daiwa America upgraded its rating from "moderate buy" to "strong buy." Conversely, StockNews.com downgraded Pfizer from "strong buy" to "buy" on November 20th. Cantor Fitzgerald maintained an "overweight" ranking and set a target price of $45.00 for Pfizer shares on October 23rd. Daiwa Capital Markets also changed its outlook, moving Pfizer from a "neutral" to "outperform" rating with a revised price target from $28.00 to $34.00. On November 15th, Wolfe Research initiated coverage on Pfizer with an "underperform" rating and a target price of $25.00. Overall, the consensus shows one sell rating, eight hold ratings, six buy ratings, and two strong buy ratings, leading to an average target price of $32.92 according to MarketBeat.

Current Financial Ratios and Metrics

The company currently holds a quick ratio of 0.73, a current ratio of 1.00, and a debt-to-equity ratio of 0.63. With a market capitalization of $143.03 billion, Pfizer has a P/E ratio of 34.14, a PEG ratio of 0.70, and a beta value of 0.65. The stock's 50-day moving average is $27.68, while the 200-day moving average is $28.45.

Earnings Report Insights

Pfizer announced its earnings results on October 29th, revealing earnings of $1.06 per share (EPS) for the quarter, exceeding the consensus estimate of $0.64 by $0.42. Revenues for the quarter reached $17.70 billion, surpassing analyst expectations of $14.92 billion. The company's net margin sits at 7.07%, and it boasts a return on equity of 16.28%. Moreover, Pfizer's revenue marked a year-over-year increase of 31.2%. Last year during the same period, the firm reported a loss of $0.17 EPS. Analysts are estimating that Pfizer Inc. will achieve approximately 2.95 EPS for the current fiscal year.

Dividend Announcements

Pfizer also announced a quarterly dividend, which was distributed on December 2nd to investors recorded on November 8th. The issued dividend was $0.42 per share, translating to an annualized dividend of $1.68, which represents a yield of 6.66%. Currently, Pfizer’s dividend payout ratio stands at 227.03%.

Insider Transactions

In insider news, Director Scott Gottlieb bought 1,000 shares of Pfizer stock on October 30th, acquiring them at an average price of $28.24 per share for a total cost of $28,240. Post-transaction, he holds 10,000 shares valued at around $282,400, indicating an 11.11% increase in his ownership. Insider ownership comprises 0.06% of the stock.

Institutional Trading Trends

Recently, hedge funds have altered their holdings in Pfizer. MFA Wealth Advisors LLC acquired a new stake in the second quarter, valued at about $29,000. Gladius Capital Management LP increased its holdings in Pfizer by 102.8% during the third quarter, owning 1,043 shares worth $30,000 after acquiring an additional 38,015 shares in the period. Other firms like Quarry LP and Financial Connections Group Inc. also made new investments in Pfizer, worth approximately $31,000 and $34,000 respectively. Currently, institutional investors own 68.36% of the company’s stock.

Company Overview

Pfizer Inc. is engaged in the discovery, development, manufacturing, marketing, distribution, and sale of biopharmaceutical products globally. The company provides a variety of medicines and vaccines across numerous therapeutic areas, including cardiovascular health, migraine treatment, and women's health through its brands such as Eliquis and Prevnar. It also focuses on infectious diseases and products for COVID-19 prevention and treatment under the Comirnaty and Paxlovid brands.

Pfizer, Stocks, Trading