Pfizer, Inc. (PFE) Lowered to Neutral at Credit Suisse Group
Credit Suisse Group lowered shares of Pfizer, Inc. (NYSE:PFE) from an outperform rating to a neutral rating in a research report released on Thursday morning, Marketbeat reports. The brokerage currently has $36.00 target price on the biopharmaceutical company’s stock, down from their prior target price of $38.00.
A number of other equities research analysts have also issued reports on the stock. Sanford C. Bernstein set a $39.00 target price on shares of Pfizer and gave the stock a buy rating in a report on Monday, July 17th. Jefferies Group LLC reissued a hold rating and issued a $35.00 price objective (up previously from $34.00) on shares of Pfizer in a report on Friday, July 14th. Zacks Investment Research raised shares of Pfizer from a sell rating to a hold rating in a report on Friday, July 14th. BidaskClub lowered shares of Pfizer from a sell rating to a strong sell rating in a report on Thursday, July 13th. Finally, Cowen and Company set a $43.00 price objective on shares of Pfizer and gave the company a buy rating in a report on Monday, July 10th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and ten have given a buy rating to the stock. The stock currently has an average rating of Hold and a consensus target price of $37.68.
Pfizer (PFE) opened at 33.48 on Thursday. The company’s 50-day moving average is $33.20 and its 200 day moving average is $33.25. The stock has a market capitalization of $199.80 billion, a PE 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.
Pfizer (NYSE:PFE) last posted its quarterly earnings data on Tuesday, May 2nd. The biopharmaceutical company reported $0.69 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.02. Pfizer had a net margin of 13.76% and a return on equity of 23.68%. The company had revenue of $12.78 billion during the quarter, compared to analysts’ expectations of $13.09 billion. During the same period in the prior year, the business posted $0.67 earnings per share. The firm’s revenue for the quarter was down 1.7% on a year-over-year basis. Equities analysts predict that Pfizer will post $2.55 earnings per share for the current year.
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The company also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Friday, August 4th will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.82%. The ex-dividend date is Wednesday, August 2nd. Pfizer’s payout ratio is currently 108.48%.
Institutional investors have recently added to or reduced their stakes in the company. Asset Planning Services Ltd. boosted its position in Pfizer by 4.9% in the first quarter. Asset Planning Services Ltd. now owns 2,961 shares of the biopharmaceutical company’s stock worth $101,000 after buying an additional 137 shares in the last quarter. D. Scott Neal Inc. boosted its position in Pfizer by 19.3% in the second quarter. D. Scott Neal Inc. now owns 3,112 shares of the biopharmaceutical company’s stock worth $105,000 after buying an additional 504 shares in the last quarter. Orrstown Financial Services Inc. boosted its position in Pfizer by 23.0% in the first quarter. Orrstown Financial Services Inc. now owns 3,275 shares of the biopharmaceutical company’s stock worth $112,000 after buying an additional 612 shares in the last quarter. Franklin Parlapiano Turner & Welch LLC bought a new position in Pfizer during the first quarter worth $121,000. Finally, Cable Hill Partners LLC boosted its position in Pfizer by 6.0% in the first quarter. Cable Hill Partners LLC now owns 4,664 shares of the biopharmaceutical company’s stock worth $160,000 after buying an additional 265 shares in the last quarter. Hedge funds and other institutional investors own 69.98% of the company’s stock.
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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