Harvey Capital Management Inc. Raises Stock Holdings in Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN)

Harvey Capital Management Inc. increased its position in Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) by 0.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,092 shares of the biopharmaceutical company’s stock after buying an additional 28 shares during the quarter. Regeneron Pharmaceuticals accounts for approximately 2.2% of Harvey Capital Management Inc.’s holdings, making the stock its 13th biggest holding. Harvey Capital Management Inc.’s holdings in Regeneron Pharmaceuticals were worth $8,303,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Capital International Investors boosted its position in Regeneron Pharmaceuticals by 41.6% during the 4th quarter. Capital International Investors now owns 4,736,929 shares of the biopharmaceutical company’s stock valued at $3,373,859,000 after acquiring an additional 1,390,534 shares in the last quarter. Geode Capital Management LLC raised its holdings in Regeneron Pharmaceuticals by 6.8% in the 4th quarter. Geode Capital Management LLC now owns 2,427,630 shares of the biopharmaceutical company’s stock worth $1,726,940,000 after acquiring an additional 155,369 shares during the last quarter. Dodge & Cox raised its stake in Regeneron Pharmaceuticals by 0.4% during the 4th quarter. Dodge & Cox now owns 2,321,316 shares of the biopharmaceutical company’s stock valued at $1,653,543,000 after buying an additional 9,381 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in Regeneron Pharmaceuticals by 63.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,085,447 shares of the biopharmaceutical company’s stock valued at $1,485,527,000 after buying an additional 810,144 shares during the last quarter. Finally, Franklin Resources Inc. increased its stake in shares of Regeneron Pharmaceuticals by 7.9% in the 4th quarter. Franklin Resources Inc. now owns 2,045,210 shares of the biopharmaceutical company’s stock worth $1,456,864,000 after purchasing an additional 149,124 shares in the last quarter. 83.31% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on REGN shares. UBS Group dropped their target price on shares of Regeneron Pharmaceuticals from $633.00 to $560.00 and set a “neutral” rating for the company in a report on Thursday, June 5th. Cantor Fitzgerald started coverage on shares of Regeneron Pharmaceuticals in a research note on Tuesday, April 22nd. They set an “overweight” rating and a $695.00 price target for the company. Bank of America reduced their price objective on shares of Regeneron Pharmaceuticals from $575.00 to $547.00 and set an “underperform” rating for the company in a research note on Thursday, April 17th. BMO Capital Markets dropped their price objective on shares of Regeneron Pharmaceuticals from $800.00 to $600.00 and set an “outperform” rating on the stock in a report on Monday, June 2nd. Finally, Argus downgraded shares of Regeneron Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Monday, June 30th. One analyst has rated the stock with a sell rating, seven have given a hold rating, sixteen have issued a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $822.58.

Regeneron Pharmaceuticals Stock Up 1.8%

Shares of REGN stock opened at $547.75 on Wednesday. The firm has a market capitalization of $59.14 billion, a P/E ratio of 13.94, a PEG ratio of 1.98 and a beta of 0.33. Regeneron Pharmaceuticals, Inc. has a 1 year low of $476.49 and a 1 year high of $1,211.20. The firm’s fifty day moving average price is $547.51 and its two-hundred day moving average price is $623.07. The company has a current ratio of 4.93, a quick ratio of 4.03 and a debt-to-equity ratio of 0.09.

Regeneron Pharmaceuticals (NASDAQ:REGN) last announced its earnings results on Tuesday, April 29th. The biopharmaceutical company reported $8.22 EPS for the quarter, missing the consensus estimate of $8.83 by ($0.61). The company had revenue of $3.03 billion for the quarter, compared to the consensus estimate of $3.40 billion. Regeneron Pharmaceuticals had a return on equity of 15.27% and a net margin of 31.94%. The business’s quarterly revenue was down 3.7% on a year-over-year basis. During the same period in the previous year, the firm posted $9.55 EPS. On average, equities analysts predict that Regeneron Pharmaceuticals, Inc. will post 35.92 EPS for the current fiscal year.

Regeneron Pharmaceuticals Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Tuesday, May 20th were given a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 0.64%. The ex-dividend date was Tuesday, May 20th. Regeneron Pharmaceuticals’s dividend payout ratio (DPR) is currently 8.96%.

Regeneron Pharmaceuticals Company Profile

Regeneron Pharmaceuticals, Inc discovers, invents, develops, manufactures, and commercializes medicines for treating various diseases worldwide. The company's products include EYLEA injection to treat wet age-related macular degeneration and diabetic macular edema; myopic choroidal neovascularization; diabetic retinopathy; neovascular glaucoma; and retinopathy of prematurity.