Vetr Inc. Downgrades Pfizer Inc. (PFE) to Buy
Pfizer Inc. (NYSE:PFE) was downgraded by Vetr from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Thursday. They currently have a $36.36 target price on the biopharmaceutical company’s stock. Vetr‘s price objective indicates a potential upside of 11.33% from the company’s previous close.
Several other brokerages also recently issued reports on PFE. Barclays PLC restated an “equal weight” rating and set a $34.00 price objective on shares of Pfizer in a research report on Tuesday, August 2nd. Sanford C. Bernstein set a $38.00 price objective on shares of Pfizer and gave the stock a “buy” rating in a research report on Tuesday, August 2nd. Jefferies Group set a $40.00 price objective on shares of Pfizer and gave the stock a “buy” rating in a research report on Monday, August 1st. Piper Jaffray Cos. set a $54.00 price objective on shares of Pfizer and gave the stock a “buy” rating in a research report on Monday, July 25th. Finally, JPMorgan Chase & Co. set a $40.00 price objective on shares of Pfizer and gave the stock a “buy” rating in a research report on Monday, July 25th. Eleven investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Pfizer has an average rating of “Buy” and an average target price of $38.59.
Shares of Pfizer (NYSE:PFE) opened at 32.66 on Thursday. Pfizer has a 52-week low of $28.25 and a 52-week high of $37.39. The company’s 50-day moving average price is $34.02 and its 200-day moving average price is $34.27. The company has a market capitalization of $198.10 billion, a price-to-earnings ratio of 28.95 and a beta of 0.86.
Pfizer (NYSE:PFE) last issued its quarterly earnings data on Tuesday, August 2nd. The biopharmaceutical company reported $0.64 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.02. The firm earned $13.10 billion during the quarter, compared to the consensus estimate of $13.01 billion. Pfizer had a net margin of 14.88% and a return on equity of 23.37%. The business’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same period last year, the business posted $0.56 earnings per share. Equities research analysts forecast that Pfizer will post $2.46 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Friday, November 11th will be given a dividend of $0.30 per share. The ex-dividend date is Tuesday, November 8th. This represents a $1.20 dividend on an annualized basis and a yield of 3.67%. Pfizer’s dividend payout ratio (DPR) is currently 95.24%.
Hedge funds have recently modified their holdings of the stock. Emerald Acquisition Ltd. bought a new position in shares of Pfizer during the second quarter valued at $555,074,000. Franklin Resources Inc. raised its position in shares of Pfizer by 16.7% in the first quarter. Franklin Resources Inc. now owns 62,902,993 shares of the biopharmaceutical company’s stock valued at $1,864,446,000 after buying an additional 9,005,107 shares in the last quarter. NN Investment Partners Holdings N.V. bought a new position in shares of Pfizer during the first quarter valued at $242,144,000. Vanguard Group Inc. raised its position in shares of Pfizer by 1.6% in the second quarter. Vanguard Group Inc. now owns 383,339,513 shares of the biopharmaceutical company’s stock valued at $13,497,386,000 after buying an additional 6,193,821 shares in the last quarter. Finally, Eaton Vance Management raised its position in shares of Pfizer by 154.8% in the second quarter. Eaton Vance Management now owns 9,636,949 shares of the biopharmaceutical company’s stock valued at $339,317,000 after buying an additional 5,854,244 shares in the last quarter. 69.66% of the stock is currently owned by institutional investors and hedge funds.
Pfizer Inc is a research-based global biopharmaceutical company. The Company is engaged in discovering, developing and manufacturing of healthcare products. Its portfolio includes medicines, vaccines and medical devices, as well as consumer healthcare products. Its products include Prevnar/Prevenar 13, Lyrica, Enbrel, Lipitor, Viagra, Sutent, BeneFIX, Genotropin, ReFacto, Xyntha and Enbrel.
To view Vetr’s full report, visit Vetr’s official website.
Receive News & Ratings for Pfizer Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pfizer Inc. and related companies with MarketBeat.com's FREE daily email newsletter.