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NEW YORK ( TheStreet) -- Pfizer (NYSE: PFE) hit a new 52-week high Wednesday as it is currently trading at $22.81, above its previous 52-week high of $22.80 with 1.3 million shares traded as of 9:35 a.m. ET. Average volume has been 35.1 million shares over the past 30 days. Pfizer has a market cap of $168.69 billion and is part of the health care sector and drugs industry. Shares are up 4.6% year to date as of the close of trading on Tuesday. Pfizer Inc., a biopharmaceutical company, engages in the discovery, development, manufacture, and sale of medicines for people and animals worldwide. The company has a P/E ratio of 20.2, above the average drugs industry P/E ratio of 17.5 and above the S&P 500 P/E ratio of 17.7.