Sound Income Strategies LLC Increases Stock Position in Sanofi (NASDAQ:SNY)

Sound Income Strategies LLC boosted its stake in Sanofi (NASDAQ:SNY) by 9.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 73,420 shares of the company’s stock after purchasing an additional 6,073 shares during the quarter. Sound Income Strategies LLC’s holdings in Sanofi were worth $4,072,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of SNY. Lee Danner & Bass Inc. purchased a new stake in Sanofi in the fourth quarter valued at approximately $31,000. Bessemer Group Inc. raised its stake in Sanofi by 59.8% in the fourth quarter. Bessemer Group Inc. now owns 647 shares of the company’s stock valued at $32,000 after purchasing an additional 242 shares in the last quarter. Sierra Ocean LLC purchased a new stake in Sanofi in the fourth quarter valued at approximately $44,000. UMB Bank n.a. raised its stake in Sanofi by 30.7% in the first quarter. UMB Bank n.a. now owns 1,124 shares of the company’s stock valued at $62,000 after purchasing an additional 264 shares in the last quarter. Finally, Whipplewood Advisors LLC purchased a new stake in Sanofi in the fourth quarter valued at approximately $76,000. 14.04% of the stock is owned by hedge funds and other institutional investors.

Sanofi Stock Down 2.3%

Shares of NASDAQ SNY opened at $49.67 on Friday. The company has a quick ratio of 1.14, a current ratio of 1.46 and a debt-to-equity ratio of 0.15. Sanofi has a 52 week low of $45.80 and a 52 week high of $60.12. The firm’s fifty day moving average is $51.49 and its 200 day moving average is $52.03. The company has a market cap of $121.81 billion, a price-to-earnings ratio of 19.95, a PEG ratio of 1.01 and a beta of 0.50.

Sanofi (NASDAQ:SNY) last issued its earnings results on Thursday, April 24th. The company reported $0.94 EPS for the quarter, topping the consensus estimate of $0.90 by $0.04. Sanofi had a net margin of 12.77% and a return on equity of 25.61%. The company had revenue of $10.41 billion for the quarter, compared to the consensus estimate of $9.79 billion. During the same period in the previous year, the firm earned $1.78 earnings per share. The firm’s revenue for the quarter was down 11.0% on a year-over-year basis. On average, equities research analysts expect that Sanofi will post 4.36 earnings per share for the current year.

Sanofi Increases Dividend

The company also recently announced an annual dividend, which was paid on Thursday, June 12th. Investors of record on Friday, May 9th were paid a $2.0369 dividend. This represents a dividend yield of 3.1%. This is an increase from Sanofi’s previous annual dividend of $1.48. The ex-dividend date of this dividend was Friday, May 9th. Sanofi’s payout ratio is presently 56.79%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on SNY shares. BNP Paribas started coverage on shares of Sanofi in a research report on Tuesday, April 15th. They set an “outperform” rating and a $65.00 price target on the stock. Hsbc Global Res upgraded shares of Sanofi to a “strong-buy” rating in a research report on Monday, April 28th. Morgan Stanley set a $56.00 price target on shares of Sanofi in a research report on Monday, June 2nd. The Goldman Sachs Group started coverage on shares of Sanofi in a research report on Friday, March 21st. They set a “neutral” rating and a $65.00 price target on the stock. Finally, Guggenheim reiterated a “buy” rating on shares of Sanofi in a research report on Tuesday, June 3rd. Three analysts have rated the stock with a hold rating, three have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $61.50.

Sanofi Profile

Sanofi, a healthcare company, engages in the research, development, manufacture, and marketing of therapeutic solutions in the United States, Europe, Canada, and internationally. It operates through Pharmaceuticals, Vaccines, and Consumer Healthcare segments. The company provides specialty care, such as DUPIXENT, neurology and immunology, rare diseases, oncology, and rare blood disorders; medicines for diabetes and cardiovascular diseases; and established prescription products.