Zacks Investment Research Lowers Pfizer, Inc. (PFE) to Hold

Pfizer, Inc. (NYSE:PFE) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

According to Zacks, “Pfizer is facing headwinds in the form of genericization of key drugs, lost alliance revenues, pricing pressure and rising competition which is hurting the top-line. Though Pfizer’s growing immuno-oncology portfolio offers strong potential, many of these assets are in early stage of development. Additionally, Pfizer’s shares have underperformed the industry this year so far. Nonetheless, we believe that new products like Ibrance, contribution from acquisitions, cost-cutting efforts and share buybacks should help the company achieve its guidance. Pfizer also boasts a strong pipeline and expects approximately 25 to 30 drug approvals over the next five years, including around 15 products that have blockbuster potential. Bavencio is being considered a key long-term growth driver for Pfizer. The company has a mixed record of earnings surprises in recent quarters. Estimates have remained stable ahead of its Q3 earnings results.”

Several other research firms have also commented on PFE. BMO Capital Markets set a $37.00 price objective on shares of Pfizer and gave the company a “buy” rating in a research note on Tuesday. Barclays PLC set a $38.00 price objective on shares of Pfizer and gave the company a “buy” rating in a research note on Wednesday. ValuEngine raised shares of Pfizer from a “hold” rating to a “buy” rating in a research note on Friday, October 6th. Sanford C. Bernstein set a $39.00 price objective on shares of Pfizer and gave the company a “buy” rating in a research note on Tuesday, September 19th. Finally, Morgan Stanley raised shares of Pfizer from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $35.00 to $39.00 in a research note on Wednesday, September 20th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $38.21.

Pfizer (PFE) traded down 0.234% during trading on Wednesday, hitting $36.315. 4,523,484 shares of the company were exchanged. The stock’s 50-day moving average is $34.92 and its 200-day moving average is $33.71. The company has a market capitalization of $60.01 billion, a price-to-earnings ratio of 26.507 and a beta of 1.00. Pfizer has a 12 month low of $29.83 and a 12 month high of $36.51.

Pfizer (NYSE:PFE) last announced its quarterly earnings results on Tuesday, August 1st. The biopharmaceutical company reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.02. Pfizer had a net margin of 15.84% and a return on equity of 24.51%. The business had revenue of $12.90 billion during the quarter, compared to analysts’ expectations of $13.08 billion. During the same period last year, the business earned $0.64 earnings per share. The business’s revenue for the quarter was down 1.9% on a year-over-year basis. Equities research analysts anticipate that Pfizer will post $2.56 earnings per share for the current year.

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In other news, insider Laurie J. Olson sold 8,064 shares of Pfizer stock in a transaction on Monday, August 21st. The shares were sold at an average price of $32.70, for a total value of $263,692.80. Following the transaction, the insider now directly owns 74,506 shares of the company’s stock, valued at approximately $2,436,346.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Ian C. Read sold 197,168 shares of Pfizer stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $34.00, for a total transaction of $6,703,712.00. Following the completion of the transaction, the chief executive officer now directly owns 580,318 shares in the company, valued at $19,730,812. The disclosure for this sale can be found here. In the last three months, insiders have sold 464,521 shares of company stock worth $15,813,961. 0.06% of the stock is owned by corporate insiders.

Several institutional investors have recently made changes to their positions in the company. Northstar Group Inc. increased its holdings in shares of Pfizer by 0.4% in the 2nd quarter. Northstar Group Inc. now owns 8,602 shares of the biopharmaceutical company’s stock valued at $289,000 after acquiring an additional 35 shares during the period. Peregrine Asset Advisers Inc. increased its holdings in shares of Pfizer by 0.5% in the 2nd quarter. Peregrine Asset Advisers Inc. now owns 7,354 shares of the biopharmaceutical company’s stock valued at $247,000 after acquiring an additional 35 shares during the period. Northwest Quadrant Wealth Management LLC increased its holdings in shares of Pfizer by 0.8% in the 2nd quarter. Northwest Quadrant Wealth Management LLC now owns 6,329 shares of the biopharmaceutical company’s stock valued at $211,000 after acquiring an additional 50 shares during the period. River Wealth Advisors LLC increased its holdings in shares of Pfizer by 0.3% in the 2nd quarter. River Wealth Advisors LLC now owns 15,818 shares of the biopharmaceutical company’s stock valued at $531,000 after acquiring an additional 55 shares during the period. Finally, Meridian Wealth Management LLC increased its holdings in shares of Pfizer by 0.5% in the 2nd quarter. Meridian Wealth Management LLC now owns 11,966 shares of the biopharmaceutical company’s stock valued at $402,000 after acquiring an additional 57 shares during the period. 68.99% 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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