Pfizer, Inc. (PFE) Rating Increased to Overweight at Morgan Stanley
Pfizer, Inc. (NYSE:PFE) was upgraded by equities researchers at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a report released on Wednesday. The brokerage currently has a $39.00 target price on the biopharmaceutical company’s stock, up from their prior target price of $35.00. Morgan Stanley’s price target would indicate a potential upside of 8.36% from the stock’s previous close.
A number of other equities research analysts also recently issued reports on PFE. Berenberg Bank restated a “hold” rating and set a $36.00 price objective (down from $39.00) on shares of Pfizer in a research report on Tuesday, August 15th. BMO Capital Markets restated a “buy” rating and set a $37.00 price objective on shares of Pfizer in a research report on Thursday, September 14th. Jefferies Group LLC set a $37.00 price objective on Pfizer and gave the company a “neutral” rating in a research report on Monday. Sanford C. Bernstein set a $39.00 price objective on Pfizer and gave the company a “buy” rating in a research report on Tuesday. Finally, BidaskClub upgraded Pfizer from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 5th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and eleven have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $38.04.
Pfizer (PFE) opened at 35.97 on Wednesday. The stock’s 50 day moving average price is $33.78 and its 200 day moving average price is $33.53. The company has a market capitalization of $213.93 billion, a price-to-earnings ratio of 26.31 and a beta of 1.00. Pfizer has a 12 month low of $29.83 and a 12 month high of $36.19.
Pfizer (NYSE:PFE) last issued its quarterly earnings data on Tuesday, August 1st. The biopharmaceutical company reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.02. Pfizer had a return on equity of 24.51% and a net margin of 15.84%. The business had revenue of $12.90 billion for the quarter, compared to the consensus estimate of $13.08 billion. During the same period in the prior year, the business posted $0.64 earnings per share. The company’s quarterly revenue was down 1.9% compared to the same quarter last year. Equities research analysts anticipate that Pfizer will post $2.56 earnings per share for the current fiscal year.
In other Pfizer news, insider Alexander R. Mackenzie sold 15,000 shares of the stock in a transaction on Monday, August 7th. The stock was sold at an average price of $33.50, for a total transaction of $502,500.00. Following the sale, the insider now owns 151,474 shares of the company’s stock, valued at approximately $5,074,379. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Ian C. Read sold 96,950 shares of the stock in a transaction on Friday, August 4th. The shares were sold at an average price of $34.00, for a total value of $3,296,300.00. The disclosure for this sale can be found here. Insiders have sold a total of 464,521 shares of company stock worth $15,813,961 in the last ninety days. Insiders own 0.06% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Asset Planning Services Ltd. boosted its position in Pfizer by 4.9% during the 1st quarter. Asset Planning Services Ltd. now owns 2,961 shares of the biopharmaceutical company’s stock valued at $101,000 after acquiring an additional 137 shares in the last quarter. Shine Investment Advisory Services Inc. bought a new stake in Pfizer during the 2nd quarter valued at $102,000. Mckinley Capital Management LLC Delaware bought a new stake in Pfizer during the 2nd quarter valued at $103,000. D. Scott Neal Inc. boosted its position in Pfizer by 19.3% during the 2nd quarter. D. Scott Neal Inc. now owns 3,112 shares of the biopharmaceutical company’s stock valued at $105,000 after acquiring an additional 504 shares in the last quarter. Finally, Orrstown Financial Services Inc. boosted its position in Pfizer by 23.0% during the 1st quarter. Orrstown Financial Services Inc. now owns 3,275 shares of the biopharmaceutical company’s stock valued at $112,000 after acquiring an additional 612 shares in the last quarter. 69.00% of the stock is currently owned by institutional investors and hedge funds.
Pfizer Company Profile
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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