Jefferies Group LLC Reiterates “$35.00” Price Target for Pfizer, Inc. (PFE)
Jefferies Group LLC set a $35.00 target price on Pfizer, Inc. (NYSE:PFE) in a research report sent to investors on Thursday morning. The brokerage currently has a neutral rating on the biopharmaceutical company’s stock.
A number of other equities analysts also recently issued reports on PFE. Berenberg Bank reissued a hold rating and issued a $36.00 price target (down from $39.00) on shares of Pfizer in a research note on Tuesday, August 15th. BidaskClub raised shares of Pfizer from a strong sell rating to a sell rating in a research note on Saturday, August 5th. Cowen and Company set a $43.00 target price on shares of Pfizer and gave the company a buy rating in a research note on Monday, August 14th. UBS AG reaffirmed a buy rating and set a $38.00 target price on shares of Pfizer in a research note on Monday, July 31st. Finally, BMO Capital Markets raised shares of Pfizer from a market perform rating to an outperform rating and raised their target price for the company from $33.00 to $37.00 in a research note on Wednesday, August 2nd. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and ten have given a buy rating to the company’s stock. Pfizer presently has an average rating of Hold and a consensus price target of $37.61.
Pfizer (NYSE:PFE) traded up 0.48% on Thursday, reaching $33.39. The company’s stock had a trading volume of 14,393,883 shares. The stock has a market cap of $198.58 billion, a price-to-earnings ratio of 24.43 and a beta of 1.00. The firm’s 50-day moving average price is $33.25 and its 200-day moving average price is $33.42. Pfizer has a 52-week low of $29.83 and a 52-week high of $35.18.
Pfizer (NYSE:PFE) last released its quarterly earnings results on Tuesday, August 1st. The biopharmaceutical company reported $0.67 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.65 by $0.02. Pfizer had a net margin of 15.84% and a return on equity of 24.51%. The company had revenue of $12.90 billion during the quarter, compared to the consensus estimate of $13.08 billion. During the same period in the prior year, the firm earned $0.64 earnings per share. Pfizer’s revenue was down 1.9% on a year-over-year basis. On average, equities analysts expect that Pfizer will post $2.56 earnings per share for the current year.
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The business also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 4th will be issued a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 3.83%. The ex-dividend date is Wednesday, August 2nd. Pfizer’s dividend payout ratio is currently 94.12%.
In related news, CEO Ian C. Read sold 96,950 shares of the firm’s stock in a transaction that occurred 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Alexander R. Mackenzie sold 15,000 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the insider now owns 151,474 shares in the company, valued at approximately $5,074,379. The disclosure for this sale can be found here. Insiders sold 120,014 shares of company stock worth $4,062,493 in the last 90 days. 0.06% of the stock is currently owned by corporate insiders.
A number of large investors have recently modified their holdings of PFE. Independent Advisor Alliance bought a new stake in shares of Pfizer during the fourth quarter valued at about $1,385,000. Oakview Capital Management L.P. bought a new stake in shares of Pfizer during the fourth quarter valued at about $18,007,000. Archford Capital Strategies LLC boosted its stake in shares of Pfizer by 4.1% in the fourth quarter. Archford Capital Strategies LLC now owns 56,759 shares of the biopharmaceutical company’s stock valued at $1,843,000 after buying an additional 2,255 shares in the last quarter. LeJeune Puetz Investment Counsel LLC bought a new stake in shares of Pfizer during the fourth quarter valued at about $1,932,000. Finally, Forbes J M & Co. LLP boosted its stake in shares of Pfizer by 0.3% in the fourth quarter. Forbes J M & Co. LLP now owns 319,949 shares of the biopharmaceutical company’s stock valued at $10,391,000 after buying an additional 1,113 shares in the last quarter. Institutional investors own 69.94% of the company’s stock.
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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