Argus Lowers Pfizer (NYSE:PFE) to Hold

Argus downgraded shares of Pfizer (NYSE:PFEFree Report) from a buy rating to a hold rating in a report published on Friday, MarketBeat reports.

A number of other research analysts have also recently commented on PFE. TD Cowen cut Pfizer from an outperform rating to a market perform rating and set a $32.00 price target on the stock. in a research report on Thursday, January 4th. Guggenheim initiated coverage on Pfizer in a research report on Friday, February 23rd. They issued a buy rating and a $36.00 target price on the stock. Cantor Fitzgerald reiterated an overweight rating and issued a $45.00 target price on shares of Pfizer in a research report on Friday, March 1st. UBS Group decreased their target price on Pfizer from $34.00 to $27.00 and set a neutral rating on the stock in a research report on Thursday, December 14th. Finally, Barclays decreased their target price on Pfizer from $34.00 to $28.00 and set an equal weight rating on the stock in a research report on Thursday, December 14th. Twelve analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Pfizer presently has an average rating of Hold and a consensus target price of $36.88.

Check Out Our Latest Stock Report on Pfizer

Pfizer Stock Down 1.1 %

Shares of NYSE PFE opened at $27.36 on Friday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.69 and a current ratio of 0.91. Pfizer has a 52 week low of $25.61 and a 52 week high of $42.22. The stock has a market capitalization of $154.93 billion, a P/E ratio of 76.00, a PEG ratio of 1.23 and a beta of 0.61. The stock’s fifty day moving average is $27.51 and its 200 day moving average is $29.57.

Pfizer (NYSE:PFEGet Free Report) last issued its quarterly earnings results on Tuesday, January 30th. The biopharmaceutical company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.29. Pfizer had a return on equity of 10.88% and a net margin of 3.62%. The company had revenue of $14.25 billion for the quarter, compared to analysts’ expectations of $14.37 billion. During the same quarter last year, the business earned $1.14 earnings per share. Pfizer’s revenue was down 41.3% on a year-over-year basis. Sell-side analysts forecast that Pfizer will post 2.22 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Pfizer

Several institutional investors have recently added to or reduced their stakes in PFE. Moneta Group Investment Advisors LLC lifted its stake in Pfizer by 89,592.7% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 161,143,638 shares of the biopharmaceutical company’s stock valued at $8,257,000,000 after buying an additional 160,963,976 shares during the period. Norges Bank bought a new stake in shares of Pfizer during the fourth quarter valued at approximately $2,129,927,000. Wellington Management Group LLP increased its holdings in shares of Pfizer by 4.9% during the fourth quarter. Wellington Management Group LLP now owns 239,209,768 shares of the biopharmaceutical company’s stock valued at $6,886,849,000 after acquiring an additional 11,099,024 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Pfizer by 10.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 95,772,746 shares of the biopharmaceutical company’s stock valued at $3,161,261,000 after acquiring an additional 9,393,992 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings in shares of Pfizer by 13.8% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 68,506,441 shares of the biopharmaceutical company’s stock valued at $1,972,300,000 after acquiring an additional 8,298,920 shares in the last quarter. 68.05% of the stock is owned by institutional investors and hedge funds.

Pfizer Company Profile

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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.

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Analyst Recommendations for Pfizer (NYSE:PFE)

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