Pfizer (PFE) Raised to Buy at Zacks Investment Research

Pfizer (NYSE:PFE) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Wednesday. The brokerage presently has a $41.00 price objective on the biopharmaceutical company’s stock. Zacks Investment Research‘s target price points to a potential upside of 10.39% from the stock’s current price.

According to Zacks, “Pfizer is working on strengthening its product portfolio through acquisitions and licensing deals. However, Pfizer continues to face 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. 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 with blockbuster potential. Bavencio is being considered a key long-term growth driver. The company has a mixed record of earnings surprises in recent quarters. Estimates have remained stable ahead of its Q4 results.”

Several other equities analysts have also weighed in on PFE. BMO Capital Markets set a $39.00 price objective on shares of Pfizer and gave the company a “buy” rating in a research report on Monday, January 8th. Vetr raised shares of Pfizer from a “hold” rating to a “buy” rating and set a $37.98 price target on the stock in a research report on Monday, January 8th. Jefferies Group set a $40.00 price target on shares of Pfizer and gave the company a “neutral” rating in a research report on Tuesday. Nord/LB reissued a “neutral” rating on shares of Pfizer in a research report on Tuesday, January 2nd. Finally, Morgan Stanley set a $41.00 price target on shares of Pfizer and gave the company a “buy” rating in a research report on Friday, January 5th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $38.94.

Shares of Pfizer (PFE) traded up $0.54 on Wednesday, reaching $37.14. 6,291,661 shares of the company traded hands, compared to its average volume of 16,976,520. The company has a market capitalization of $220,400.00, a price-to-earnings ratio of 22.79, a PEG ratio of 2.44 and a beta of 1.01. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.15 and a current ratio of 1.43. Pfizer has a 52-week low of $30.90 and a 52-week high of $37.35.

Pfizer (NYSE:PFE) last issued its quarterly earnings data on Tuesday, October 31st. The biopharmaceutical company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.02. The firm had revenue of $13.17 billion for the quarter, compared to analyst estimates of $13.17 billion. Pfizer had a net margin of 18.69% and a return on equity of 25.41%. The company’s revenue for the quarter was up .9% on a year-over-year basis. During the same quarter last year, the firm earned $0.61 earnings per share. research analysts expect that Pfizer will post 2.59 EPS for the current year.

Pfizer announced that its Board of Directors has initiated a stock repurchase program on Monday, December 18th that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the biopharmaceutical company to buy shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

In other news, insider Alexander R. Mackenzie sold 14,700 shares of the firm’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $35.30, for a total value of $518,910.00. Following the sale, the insider now owns 117,432 shares in the company, valued at $4,145,349.60. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Alexander R. Mackenzie sold 6,750 shares of the firm’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of $37.00, for a total transaction of $249,750.00. Following the completion of the sale, the insider now owns 103,458 shares in the company, valued at approximately $3,827,946. The disclosure for this sale can be found here. In the last 90 days, insiders sold 29,450 shares of company stock worth $1,065,220. 0.06% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently bought and sold shares of the business. Shine Investment Advisory Services Inc. acquired a new stake in Pfizer during the second quarter worth $102,000. Mckinley Capital Management LLC Delaware acquired a new stake in Pfizer during the second quarter worth $103,000. D. Scott Neal Inc. boosted its stake in Pfizer by 19.3% during the second quarter. D. Scott Neal Inc. now owns 3,112 shares of the biopharmaceutical company’s stock worth $105,000 after buying an additional 504 shares in the last quarter. Herndon Capital Management LLC acquired a new stake in Pfizer during the second quarter worth $120,000. Finally, Americafirst Capital Management LLC acquired a new stake in Pfizer during the third quarter worth $127,000. Hedge funds and other institutional investors own 69.75% of the company’s stock.

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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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