Pfizer Inc. (PFE) Sees Large Drop in Short Interest

Pfizer Inc. (NYSE:PFE) was the target of a large decline in short interest in the month of March. As of March 15th, there was short interest totalling 103,486,562 shares, a decline of 25.1% from the February 28th total of 138,180,124 shares. Currently, 1.8% of the company’s shares are sold short. Based on an average daily volume of 29,558,567 shares, the days-to-cover ratio is currently 3.5 days.

PFE has been the subject of a number of analyst reports. ValuEngine cut Pfizer from a “buy” rating to a “hold” rating in a report on Thursday, January 24th. Citigroup reiterated a “neutral” rating and set a $41.00 target price on shares of Pfizer in a research note on Wednesday, February 20th. Cantor Fitzgerald reiterated a “buy” rating and set a $53.00 target price on shares of Pfizer in a research note on Tuesday, February 19th. Credit Suisse Group reiterated a “neutral” rating and set a $45.00 target price on shares of Pfizer in a research note on Thursday, December 20th. Finally, Zacks Investment Research cut Pfizer from a “hold” rating to a “sell” rating in a research note on Thursday, March 28th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and seven have issued a buy rating to the company’s stock. Pfizer has an average rating of “Hold” and a consensus price target of $45.61.

NYSE PFE traded up $0.38 during trading hours on Monday, hitting $42.09. The company had a trading volume of 17,260,053 shares, compared to its average volume of 24,090,061. Pfizer has a fifty-two week low of $34.37 and a fifty-two week high of $46.47. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.57 and a quick ratio of 1.33. The firm has a market capitalization of $248.41 billion, a PE ratio of 14.03, a P/E/G ratio of 2.55 and a beta of 0.75.

Pfizer (NYSE:PFE) last issued its earnings results on Tuesday, January 29th. The biopharmaceutical company reported $0.64 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.01. Pfizer had a return on equity of 26.02% and a net margin of 20.79%. The firm had revenue of $13.98 billion for the quarter, compared to analyst estimates of $13.92 billion. During the same period last year, the company earned $0.62 earnings per share. The firm’s revenue for the quarter was up 2.0% on a year-over-year basis. Equities research analysts expect that Pfizer will post 2.86 earnings per share for the current fiscal year.

In other news, EVP Douglas M. Lankler sold 38,800 shares of the business’s stock in a transaction dated Wednesday, January 30th. The stock was sold at an average price of $41.19, for a total transaction of $1,598,172.00. Following the completion of the sale, the executive vice president now owns 83,592 shares in the company, valued at approximately $3,443,154.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Rady A. Johnson sold 8,700 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $41.13, for a total value of $357,831.00. Following the completion of the transaction, the insider now owns 59,797 shares of the company’s stock, valued at approximately $2,459,450.61. The disclosure for this sale can be found here. Insiders have sold a total of 332,526 shares of company stock valued at $14,346,539 in the last quarter. Company insiders own 0.09% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. Chatham Capital Group Inc. raised its stake in shares of Pfizer by 0.8% during the 4th quarter. Chatham Capital Group Inc. now owns 31,090 shares of the biopharmaceutical company’s stock worth $1,357,000 after purchasing an additional 243 shares in the last quarter. TCI Wealth Advisors Inc. raised its stake in shares of Pfizer by 0.4% during the 1st quarter. TCI Wealth Advisors Inc. now owns 69,566 shares of the biopharmaceutical company’s stock worth $2,954,000 after purchasing an additional 244 shares in the last quarter. Home Federal Bank of Tennessee raised its stake in shares of Pfizer by 0.8% during the 4th quarter. Home Federal Bank of Tennessee now owns 29,695 shares of the biopharmaceutical company’s stock worth $1,297,000 after purchasing an additional 249 shares in the last quarter. Congress Asset Management Co. MA raised its stake in shares of Pfizer by 2.0% during the 4th quarter. Congress Asset Management Co. MA now owns 13,235 shares of the biopharmaceutical company’s stock worth $578,000 after purchasing an additional 254 shares in the last quarter. Finally, D.B. Root & Company LLC raised its stake in shares of Pfizer by 0.7% during the 4th quarter. D.B. Root & Company LLC now owns 36,078 shares of the biopharmaceutical company’s stock worth $1,575,000 after purchasing an additional 255 shares in the last quarter. 69.53% of the stock is owned by institutional investors.

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About Pfizer

Pfizer Inc discovers, develops, manufactures, and sells healthcare products worldwide. It offers medicines and vaccines in various therapeutic areas, including internal medicine, vaccines, oncology, inflammation and immunology, and rare diseases under the Lyrica, Chantix/Champix, Eliquis, Ibrance, Sutent, Xalkori, Inlyta, Xtandi, Enbrel, Xeljanz, Eucrisa, BeneFix, Genotropin, and Refacto AF/Xyntha brands.

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