Pfizer (NYSE:PFE) Stock Price Down 7.1% Following Analyst Downgrade

Share on StockTwits

Shares of Pfizer Inc. (NYSE:PFE) dropped 7.1% during trading on Monday after JPMorgan Chase & Co. lowered their price target on the stock from $37.00 to $36.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. Pfizer traded as low as $34.91 and last traded at $35.46, approximately 72,936,628 shares changed hands during trading. An increase of 148% from the average daily volume of 29,408,492 shares. The stock had previously closed at $38.19.

Other research analysts also recently issued reports about the stock. Zacks Investment Research downgraded shares of Pfizer from a “buy” rating to a “hold” rating and set a $40.00 target price on the stock. in a research note on Monday, May 4th. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $53.00 target price on shares of Pfizer in a research note on Thursday, March 19th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $44.00 target price on shares of Pfizer in a research note on Monday, April 27th. Morgan Stanley decreased their target price on shares of Pfizer from $43.00 to $36.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 2nd. Finally, Standpoint Research raised shares of Pfizer from a “hold” rating to a “buy” rating in a research note on Thursday, February 27th. Nine equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $41.19.

In other news, EVP Douglas M. Lankler sold 65,000 shares of the business’s stock in a transaction on Wednesday, April 29th. The shares were sold at an average price of $37.85, for a total transaction of $2,460,250.00. Following the sale, the executive vice president now owns 135,375 shares in the company, valued at approximately $5,123,943.75. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Pfizer Inc bought 312,500 shares of the company’s stock in a transaction dated Monday, March 16th. The shares were acquired at an average price of $16.00 per share, for a total transaction of $5,000,000.00. The disclosure for this purchase can be found here. Insiders own 0.08% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Reik & CO. LLC boosted its holdings in shares of Pfizer by 1.4% during the 1st quarter. Reik & CO. LLC now owns 19,160 shares of the biopharmaceutical company’s stock valued at $625,000 after buying an additional 265 shares in the last quarter. Prospera Financial Services Inc boosted its stake in Pfizer by 0.5% in the 4th quarter. Prospera Financial Services Inc now owns 51,834 shares of the biopharmaceutical company’s stock worth $2,031,000 after purchasing an additional 274 shares in the last quarter. Windsor Capital Management LLC boosted its stake in Pfizer by 1.6% in the 1st quarter. Windsor Capital Management LLC now owns 17,991 shares of the biopharmaceutical company’s stock worth $587,000 after purchasing an additional 276 shares in the last quarter. GYL Financial Synergies LLC boosted its stake in Pfizer by 0.9% in the 1st quarter. GYL Financial Synergies LLC now owns 30,718 shares of the biopharmaceutical company’s stock worth $1,003,000 after purchasing an additional 283 shares in the last quarter. Finally, Gilbert & Cook Inc. boosted its stake in Pfizer by 3.0% in the 1st quarter. Gilbert & Cook Inc. now owns 9,794 shares of the biopharmaceutical company’s stock worth $320,000 after purchasing an additional 285 shares in the last quarter. Hedge funds and other institutional investors own 70.28% of the company’s stock.

The company has a market cap of $212.14 billion, a P/E ratio of 12.66, a PEG ratio of 2.79 and a beta of 0.70. The stock’s 50 day moving average is $37.10 and its 200-day moving average is $36.82. The company has a current ratio of 1.02, a quick ratio of 0.78 and a debt-to-equity ratio of 0.56.

Pfizer (NYSE:PFE) last announced its quarterly earnings results on Tuesday, April 28th. The biopharmaceutical company reported $0.80 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.09. The company had revenue of $12.03 billion for the quarter, compared to analysts’ expectations of $11.38 billion. Pfizer had a net margin of 31.17% and a return on equity of 25.76%. Pfizer’s revenue was down 8.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.85 EPS. As a group, sell-side analysts forecast that Pfizer Inc. will post 2.8 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, June 5th. Investors of record on Friday, May 8th will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 4.29%. The ex-dividend date is Thursday, May 7th. Pfizer’s payout ratio is 51.53%.

About Pfizer (NYSE:PFE)

Pfizer Inc discovers, develops, manufactures, and sells healthcare products worldwide. It offers medicines and vaccines in various therapeutic areas, including internal medicine, vaccines, oncology, inflammation and immunology, and rare diseases under the Lyrica, Chantix/Champix, Eliquis, Ibrance, Sutent, Xalkori, Inlyta, Xtandi, Enbrel, Xeljanz, Eucrisa, BeneFix, Genotropin, and Refacto AF/Xyntha brands.

Read More: What is Put Option Volume?

Receive News & Ratings for Pfizer Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pfizer and related companies with MarketBeat.com's FREE daily email newsletter.