Pfizer Inc (PFE) released its first quarter results on Monday, May 10, 2021. The company reported net earnings of $0.86 per share for the first quarter ending March 31, 2021. Earnings for this past quarter were up 42 percent compared to the same period a year ago.
The company has collaboration agreements with Bristol-Myers Squibb Company; Astellas Pharma US, Inc.; Myovant Sciences Ltd.; Akcea Therapeutics, Inc; Merck KGaA; Valneva SE; BioNTech SE; and Syapse, Inc. Pfizer Inc. was founded in 1849 and is headquartered in New York, New York. Pfizer Inc. discovers, develops, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It offers medicines and vaccines in various therapeutic areas, including cardiovascular metabolic and pain under the Eliquis, Chantix/Champix, and Premarin family brands; biologics, small molecules, immunotherapies, and biosimilars under the Ibrance, Xtandi, Sutent, Inlyta, Retacrit, Lorbrena, and Braftovi brands; and sterile injectable and anti-infective medicines under the Sulperazon, Medrol, Zithromax, Vfend, and Panzyga brands.
Pfizer's revenue decreased 1 percent over the past trailing twelve-month period versus the previous twelve-month period. Gross margins decreased to 71.12% for the first quarter compared to the same period in the previous year, and operating margins decreased to 32.25% over the same period. Net earnings for past trailing twelve months were $10.825 billion, down 31% from the prior year.
Moving on to the balance sheet, Pfizer's cash levels jumped 37% for the first quarter over the same period last year. Overall liquidity of the balance sheet, as measured by the current ratio, increased 53.85% this past year. The current ratio for Pfizer now stands at 1.35. The company increased shares outstanding by 0.6%.
Shares of PFE are currently trading around $39.86. In terms of valuation, the stock is trading at a trailing twelve-month price to earnings ratio of 20.29 and price to book ratio of 3.57.