Berenberg Bank Reiterates $36.00 Price Target for Pfizer, Inc. (PFE)

Pfizer, Inc. (NYSE:PFE) received a $36.00 price target from equities research analysts at Berenberg Bank in a note issued to investors on Tuesday. The firm currently has a “neutral” rating on the biopharmaceutical company’s stock. Berenberg Bank’s target price would suggest a potential upside of 2.42% from the stock’s current price.

A number of other research analysts have also commented on PFE. Cowen and Company set a $43.00 price objective on Pfizer and gave the company a “buy” rating in a research report on Monday, July 10th. BidaskClub downgraded Pfizer from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 13th. Zacks Investment Research raised Pfizer from a “sell” rating to a “hold” rating in a research note on Friday, July 14th. Jefferies Group LLC reissued a “hold” rating and issued a $35.00 price target (up previously from $34.00) on shares of Pfizer in a research note on Friday, July 14th. Finally, Sanford C. Bernstein set a $39.00 price target on Pfizer and gave the company a “buy” rating in a research note on Monday, July 17th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $38.32.

Shares of Pfizer (NYSE:PFE) traded down 1.25% during mid-day trading on Tuesday, reaching $34.71. The company’s stock had a trading volume of 5,108,221 shares. The firm has a market capitalization of $206.43 billion, a P/E ratio of 25.39 and a beta of 1.00. Pfizer has a 12 month low of $29.83 and a 12 month high of $36.78. The company has a 50 day moving average of $35.84 and a 200-day moving average of $33.91.

Pfizer (NYSE:PFE) last announced its quarterly earnings data on Monday, October 30th. The biopharmaceutical company reported $0.67 EPS for the quarter, beating the Zacks’ consensus estimate of $0.64 by $0.03. The firm had revenue of $13.17 billion for the quarter, compared to analyst estimates of $13.17 billion. Pfizer had a return on equity of 24.51% and a net margin of 15.84%. The business’s quarterly revenue was up .9% compared to the same quarter last year. During the same period last year, the company earned $0.61 EPS. Equities research analysts forecast that Pfizer will post $2.56 EPS for the current year.

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In other Pfizer news, insider Sally Susman sold 38,230 shares of the stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $35.00, for a total transaction of $1,338,050.00. Following the completion of the transaction, the insider now owns 145,649 shares in the company, valued at approximately $5,097,715. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Alexander R. Mackenzie sold 7,350 shares of the stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $34.00, for a total value of $249,900.00. Following the transaction, the insider now owns 124,774 shares of the company’s stock, valued at approximately $4,242,316. The disclosure for this sale can be found here. In the last quarter, insiders have sold 464,521 shares of company stock valued at $15,813,961. Corporate insiders own 0.06% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the business. Miller Howard Investments Inc. NY increased its holdings in Pfizer by 17.6% during the 3rd quarter. Miller Howard Investments Inc. NY now owns 2,342,077 shares of the biopharmaceutical company’s stock worth $83,612,000 after purchasing an additional 351,008 shares in the last quarter. Essex Investment Management Co. LLC increased its holdings in Pfizer by 16.5% during the 3rd quarter. Essex Investment Management Co. LLC now owns 19,213 shares of the biopharmaceutical company’s stock worth $686,000 after purchasing an additional 2,720 shares in the last quarter. Canada Pension Plan Investment Board increased its holdings in Pfizer by 1.0% during the 3rd quarter. Canada Pension Plan Investment Board now owns 10,818,226 shares of the biopharmaceutical company’s stock worth $386,211,000 after purchasing an additional 104,600 shares in the last quarter. Longview Partners Guernsey LTD increased its holdings in Pfizer by 32.0% during the 3rd quarter. Longview Partners Guernsey LTD now owns 24,369,672 shares of the biopharmaceutical company’s stock worth $869,997,000 after purchasing an additional 5,901,100 shares in the last quarter. Finally, Brightworth bought a new position in Pfizer during the 3rd quarter worth about $340,000. Hedge funds and other institutional investors own 69.01% of the company’s stock.

About Pfizer

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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