Pfizer (NYSE:PFE) Earns Outperform Rating from BMO Capital Markets

BMO Capital Markets reaffirmed their outperform rating on shares of Pfizer (NYSE:PFE) in a report issued on Thursday, Benzinga reports. BMO Capital Markets currently has a $36.00 price target on the biopharmaceutical company’s stock, up from their prior price target of $33.00.

A number of other research firms also recently issued reports on PFE. Cantor Fitzgerald restated an overweight rating and issued a $45.00 price target on shares of Pfizer in a research note on Monday, April 15th. TD Cowen lowered shares of Pfizer from an outperform rating to a market perform rating and set a $32.00 target price for the company. in a research report on Thursday, January 4th. Guggenheim initiated coverage on shares of Pfizer in a research note on Friday, February 23rd. They set a buy rating and a $36.00 price target on the stock. Finally, Argus lowered Pfizer from a buy rating to a hold rating in a research note on Friday, March 22nd. Eleven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of Hold and a consensus price target of $36.00.

Pfizer Stock Performance

Pfizer stock opened at $27.81 on Thursday. Pfizer has a twelve month low of $25.20 and a twelve month high of $40.37. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.69 and a current ratio of 0.91. The stock’s 50 day moving average is $26.88 and its 200 day moving average is $28.21.

Pfizer (NYSE:PFE) last announced its quarterly earnings results on Wednesday, May 1st. The biopharmaceutical company reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.26. Pfizer had a positive return on equity of 8.58% and a negative net margin of 0.56%. The firm had revenue of $14.88 billion for the quarter, compared to the consensus estimate of $13.87 billion. During the same period in the prior year, the company posted $1.23 earnings per share. The company’s quarterly revenue was down 19.5% on a year-over-year basis. As a group, sell-side analysts predict that Pfizer will post 2.39 earnings per share for the current fiscal year.

Pfizer Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 10th will be issued a $0.42 dividend. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $1.68 dividend on an annualized basis and a yield of 6.04%. Pfizer’s dividend payout ratio is presently -2,799.53%.

Institutional Investors Weigh In On Pfizer

A number of institutional investors have recently added to or reduced their stakes in PFE. Norges Bank bought a new position in shares of Pfizer during the 4th quarter valued at about $2,129,927,000. Wellington Management Group LLP increased its stake in Pfizer by 4.9% in the 4th quarter. Wellington Management Group LLP now owns 239,209,768 shares of the biopharmaceutical company’s stock worth $6,886,849,000 after acquiring an additional 11,099,024 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Pfizer by 10.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 95,772,746 shares of the biopharmaceutical company’s stock worth $3,161,261,000 after acquiring an additional 9,393,992 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Pfizer by 13.8% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 68,506,441 shares of the biopharmaceutical company’s stock valued at $1,972,300,000 after acquiring an additional 8,298,920 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in shares of Pfizer by 30.9% in the third quarter. Invesco Ltd. now owns 24,054,896 shares of the biopharmaceutical company’s stock valued at $797,901,000 after purchasing an additional 5,678,004 shares in the last quarter. 68.36% of the stock is owned by hedge funds and other institutional investors.

Pfizer Company Profile

Pfizer Inc discovers, develops, manufactures, markets, distributes, and sells biopharmaceutical products in the United States, Europe, and internationally. The company offers medicines and vaccines in various therapeutic areas, including cardiovascular metabolic, migraine, and women's health under the Eliquis, Nurtec ODT/Vydura, Zavzpret, and the Premarin family brands; infectious diseases with unmet medical needs under the Prevnar family, Abrysvo, Nimenrix, FSME/IMMUN-TicoVac, and Trumenba brands; and COVID-19 prevention and treatment, and potential future mRNA and antiviral products under the Comirnaty and Paxlovid brands.