What’s Next for Pfizer Inc. (PFE) After Forming Double Top Pattern?

December 7, 2017 - By Stephen Andrade

Investors sentiment decreased to 0.94 in Q2 2017. Its down 0.01, from 0.95 in 2017Q1. It is negative, as 58 investors sold Pfizer Inc. shares while 716 reduced holdings. 112 funds opened positions while 612 raised stakes. 4.02 billion shares or 1.07% less from 4.06 billion shares in 2017Q1 were reported.
California State Teachers Retirement stated it has 11.31M shares. Wilkins Inv Counsel holds 2.91% or 272,394 shares. Mount Vernon Assoc Md stated it has 1.88% in Pfizer Inc. (NYSE:PFE). Maryland Mngmt holds 120,192 shares. Mcdaniel Terry & holds 16,257 shares. Union Savings Bank Corporation invested in 123,620 shares. Callahan Lc has invested 2.07% of its portfolio in Pfizer Inc. (NYSE:PFE). Moreover, Abner Herrman Brock Limited Company has 0.12% invested in Pfizer Inc. (NYSE:PFE). Robeco Institutional Asset Mngmt Bv holds 3.26M shares or 0.71% of its portfolio. Cincinnati holds 3.37% or 3.24 million shares in its portfolio. Walleye Trading Limited Liability Co invested 0.08% in Pfizer Inc. (NYSE:PFE). South Dakota Inv Council reported 2.20M shares. Teacher Retirement Of Texas has 3.99 million shares for 0.93% of their portfolio. Lodestar Counsel Ltd Company Il holds 0.31% in Pfizer Inc. (NYSE:PFE) or 73,545 shares. Lafayette holds 0.25% of its portfolio in Pfizer Inc. (NYSE:PFE) for 19,778 shares.

The chart of Pfizer Inc. (PFE) shows a double top with $37.99 target or 7.00 % above today’s $35.50 share price. The 9 months chart pattern indicates low risk for the $211.61B company. It was reported on Dec, 7 by Finviz.com. If the $37.99 price target is reached, the company will be worth $14.81B more. Double tops are rare but powerful chart patterns.

The stock decreased 0.17% or $0.06 during the last trading session, reaching $35.5. About 14.99 million shares traded. Pfizer Inc. (NYSE:PFE) has declined 2.76% since December 7, 2016 and is downtrending. It has underperformed by 19.46% the S&P500.

Analysts await Pfizer Inc. (NYSE:PFE) to report earnings on January, 30. They expect $0.55 earnings per share, up 17.02 % or $0.08 from last year’s $0.47 per share. PFE’s profit will be $3.28 billion for 16.14 P/E if the $0.55 EPS becomes a reality. After $0.67 actual earnings per share reported by Pfizer Inc. for the previous quarter, Wall Street now forecasts -17.91 % negative EPS growth.

Pfizer Inc. (NYSE:PFE) Ratings Coverage

Among 21 analysts covering Pfizer (NYSE:PFE), 9 have Buy rating, 1 Sell and 11 Hold. Therefore 43% are positive. Pfizer had 66 analyst reports since July 29, 2015 according to SRatingsIntel. The stock has “Overweight” rating by Barclays Capital on Tuesday, November 29. On Friday, October 2 the stock rating was upgraded by Morgan Stanley to “Overweight”. As per Monday, June 20, the company rating was maintained by Jefferies. Jefferies maintained the stock with “Buy” rating in Tuesday, June 14 report. The firm has “Hold” rating by Jefferies given on Wednesday, August 16. The firm has “Neutral” rating by Suntrust Robinson given on Wednesday, November 25. Goldman Sachs maintained Pfizer Inc. (NYSE:PFE) on Monday, April 18 with “Neutral” rating. The rating was maintained by Piper Jaffray with “Buy” on Wednesday, August 2. The rating was initiated by Guggenheim with “Neutral” on Friday, December 2. Deutsche Bank maintained the shares of PFE in report on Wednesday, October 28 with “Buy” rating.

More notable recent Pfizer Inc. (NYSE:PFE) news were published by: Moodys.com which released: “Moody’s assigns A1 to Pfizer’s new sterling notes; stable outlook” on December 07, 2017, also Fool.com with their article: “Better Buy: Pfizer Inc. vs. Johnson & Johnson” published on December 01, 2017, Mlive.com published: “Pfizer Inc. is looking to fill 200 new positions in Portage” on November 13, 2017. More interesting news about Pfizer Inc. (NYSE:PFE) were released by: Livetradingnews.com and their article: “Pfizer Inc (NYSE:PFE) Heffx Technical Analysis” published on December 05, 2017 as well as Businesswire.com‘s news article titled: “Pfizer Inc. Announces (i) Private Exchange Offer for its 6.500 per cent. Notes …” with publication date: December 07, 2017.

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