Pfizer, Inc. (PFE) Stock Rating Lowered by Credit Suisse Group
Pfizer, Inc. (NYSE:PFE) was downgraded by research analysts at Credit Suisse Group from an “outperform” rating to a “neutral” rating in a research note issued to investors on Thursday. They currently have a $36.00 price objective on the biopharmaceutical company’s stock, down from their prior price objective of $38.00. Credit Suisse Group’s target price indicates a potential upside of 7.53% from the stock’s previous close.
Other research analysts also recently issued research reports about the stock. Sanford C. Bernstein reissued a “buy” rating and set a $35.00 target price on shares of Pfizer in a research report on Friday, March 24th. Barclays PLC restated a “buy” rating and issued a $38.00 price target on shares of Pfizer in a report on Wednesday, May 3rd. Cowen and Company set a $43.00 price target on shares of Pfizer and gave the company a “buy” rating in a report on Monday, July 10th. BMO Capital Markets restated a “hold” rating and issued a $33.00 price target on shares of Pfizer in a report on Thursday, April 27th. Finally, ValuEngine cut shares of Pfizer from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and ten have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $37.68.
Shares of Pfizer (NYSE PFE) opened at 33.48 on Thursday. The company has a market cap of $199.80 billion, a price-to-earnings ratio of 28.18 and a beta of 1.01. Pfizer has a 1-year low of $29.83 and a 1-year high of $37.39. The company’s 50-day moving average is $33.20 and its 200 day moving average is $33.25.
Pfizer (NYSE:PFE) last posted its earnings results on Tuesday, May 2nd. The biopharmaceutical company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.02. The business had revenue of $12.78 billion for the quarter, compared to the consensus estimate of $13.09 billion. Pfizer had a net margin of 13.76% and a return on equity of 23.68%. The company’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.67 EPS. Equities analysts anticipate that Pfizer will post $2.55 EPS for the current year.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Perennial Advisors LLC purchased a new position in shares of Pfizer during the fourth quarter valued at $209,000. LVW Advisors LLC boosted its position in shares of Pfizer by 2.1% in the fourth quarter. LVW Advisors LLC now owns 82,620 shares of the biopharmaceutical company’s stock valued at $2,683,000 after buying an additional 1,701 shares during the last quarter. First Capital Advisors Group LLC. purchased a new position in shares of Pfizer during the fourth quarter valued at $921,000. RidgeWorth Capital Management LLC boosted its position in shares of Pfizer by 3.1% in the fourth quarter. RidgeWorth Capital Management LLC now owns 1,960,889 shares of the biopharmaceutical company’s stock valued at $63,690,000 after buying an additional 58,133 shares during the last quarter. Finally, Redmond Asset Management LLC purchased a new position in shares of Pfizer during the fourth quarter valued at $398,000. 69.95% of the stock is currently owned by hedge funds and other institutional investors.
Pfizer Inc (Pfizer) is a research-based global biopharmaceutical company. The Company is engaged in the discovery, development and manufacture of healthcare products. Its global portfolio includes medicines and vaccines, as well as consumer healthcare products. The Company manages its commercial operations through two business segments: Pfizer Innovative Health (IH) and Pfizer Essential Health (EH).
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