Shares of pharmaceutical giant Pfizer Inc. (NYSE: PFE) are under pressure in Tuesday’s afternoon session, with the stock price falling to $23.12 USD as of 2:05 pm GMT-4 on May 28th. This represents an intraday decline of $0.50, or 2.10%, signaling a bearish turn for the healthcare major.
Pfizer’s stock opened the trading day at $23.61, which was also its previous closing price. The shares reached an intraday high of $23.66 early in the session. However, selling pressure has since intensified, pushing the stock down to its current level of $23.12, which also marks the day’s low so far.
The intraday chart for PFE shows a consistent downward trend throughout the trading day. After opening flat, the stock experienced a gradual decline, which accelerated in the early afternoon, breaking below previous support levels.
From a valuation perspective, Pfizer’s market capitalization is currently 13.14KCr. The company has a Price-to-Earnings (P/E) ratio of 16.73. A notable metric for income-focused investors is Pfizer’s significant dividend yield, which stands at an attractive 7.44%.
Over the past 52 weeks, Pfizer’s stock has seen a high of $31.54 and a low of $20.92. Today’s decline brings the stock closer to its annual low, a level investors will be watching closely. The performance of pharmaceutical stocks can be influenced by a variety of factors, including clinical trial results, regulatory news, and broader healthcare sector trends.
