Pfizer (NYSE:PFE) updated its FY 2019 earnings guidance on Tuesday. The company provided earnings per share guidance of $2.82-2.92 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $3.04. The company issued revenue guidance of $52-54 billion, compared to the consensus revenue estimate of $54.36 billion.Pfizer also updated its FY19 guidance to $2.82-2.92 EPS.
A number of research analysts recently issued reports on the stock. Argus upgraded shares of Pfizer from a hold rating to a buy rating and set a $55.00 price objective for the company in a report on Thursday, January 31st. Credit Suisse Group raised shares of Pfizer from a neutral rating to an outperform rating in a research note on Thursday, January 31st. Zacks Investment Research lowered shares of Pfizer from a hold rating to a sell rating in a research note on Friday, January 25th. ValuEngine lowered shares of Pfizer from a buy rating to a hold rating in a research note on Thursday, January 24th. Finally, UBS Group lowered shares of Pfizer from a buy rating to a neutral rating in a research report on Wednesday, January 23rd. Three investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and seven have issued a buy rating to the company. Pfizer presently has a consensus rating of Hold and a consensus price target of $44.68.
NYSE:PFE opened at $41.70 on Thursday. Pfizer has a one year low of $34.32 and a one year high of $46.47. The firm has a market capitalization of $248.12 billion, a price-to-earnings ratio of 13.90, a P/E/G ratio of 2.42 and a beta of 0.77. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.15 and a current ratio of 1.43.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 1st. Shareholders of record on Friday, February 1st will be issued a $0.36 dividend. This is an increase from Pfizer’s previous quarterly dividend of $0.34. This represents a $1.44 annualized dividend and a dividend yield of 3.45%. The ex-dividend date is Thursday, January 31st. Pfizer’s payout ratio is currently 48.00%.
Pfizer declared that its board has approved a stock buyback plan on Friday, December 14th that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the biopharmaceutical company to repurchase up to 3.8% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.
In related news, EVP Douglas M. Lankler sold 5,000 shares of the company’s stock in a transaction dated Friday, February 1st. The shares were sold at an average price of $42.75, for a total value of $213,750.00. Following the transaction, the executive vice president now directly owns 83,592 shares in the company, valued at $3,573,558. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Douglas M. Lankler sold 38,800 shares of the company’s stock in a transaction dated Wednesday, January 30th. The shares were sold at an average price of $41.19, for a total transaction of $1,598,172.00. Following the completion of the transaction, the executive vice president now owns 83,592 shares in the company, valued at $3,443,154.48. The disclosure for this sale can be found here. Corporate insiders own 0.06% of the company’s stock.
Institutional investors have recently made changes to their positions in the business. 1 North Wealth Services LLC bought a new position in shares of Pfizer in the fourth quarter worth about $40,000. Portfolio Solutions LLC bought a new position in shares of Pfizer in the fourth quarter worth about $113,000. Essex Investment Management Co. LLC bought a new position in shares of Pfizer in the fourth quarter worth about $136,000. Spectrum Management Group Inc. lifted its holdings in shares of Pfizer by 8.1% in the fourth quarter. Spectrum Management Group Inc. now owns 4,247 shares of the biopharmaceutical company’s stock worth $185,000 after acquiring an additional 320 shares during the last quarter. Finally, Lipe & Dalton lifted its holdings in shares of Pfizer by 28.4% in the fourth quarter. Lipe & Dalton now owns 4,519 shares of the biopharmaceutical company’s stock worth $197,000 after acquiring an additional 1,000 shares during the last quarter. Hedge funds and other institutional investors own 70.61% of the company’s stock.
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Pfizer Company Profile
Pfizer Inc discovers, develops, manufactures, and sells healthcare products worldwide. It operates in two segments, Pfizer Innovative Health (IH) and Pfizer Essential Health (EH). The IH segment focuses on the development and commercialization of medicines and vaccines, and consumer healthcare products in various therapeutic areas, including internal medicine, vaccines, oncology, inflammation and immunology, and rare diseases, as well as consumer healthcare, such as over-the-counter brands comprising dietary supplements, pain management, gastrointestinal, and respiratory and personal care.
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