M&T Bank Corp Raises Stake in Sanofi (NASDAQ:SNY)

M&T Bank Corp raised its position in shares of Sanofi (NASDAQ:SNY) by 30.1% during the 1st quarter, Holdings Channel.com reports. The firm owned 451,456 shares of the company’s stock after purchasing an additional 104,427 shares during the period. M&T Bank Corp’s holdings in Sanofi were worth $25,037,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of SNY. Lee Danner & Bass Inc. bought a new position in Sanofi during the fourth quarter valued at approximately $31,000. Bessemer Group Inc. raised its holdings in shares of Sanofi by 59.8% during the 4th quarter. Bessemer Group Inc. now owns 647 shares of the company’s stock worth $32,000 after acquiring an additional 242 shares in the last quarter. Golden State Wealth Management LLC boosted its position in shares of Sanofi by 619.3% during the 1st quarter. Golden State Wealth Management LLC now owns 633 shares of the company’s stock valued at $35,000 after acquiring an additional 545 shares during the last quarter. UMB Bank n.a. grew its holdings in shares of 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, Wayfinding Financial LLC bought a new stake in Sanofi in the first quarter worth $63,000. Hedge funds and other institutional investors own 14.04% of the company’s stock.

Sanofi Trading Down 0.3%

SNY stock opened at $48.18 on Wednesday. The company has a quick ratio of 0.69, a current ratio of 1.37 and a debt-to-equity ratio of 0.16. Sanofi has a twelve month low of $45.80 and a twelve month high of $60.12. The stock has a market capitalization of $118.16 billion, a price-to-earnings ratio of 17.21, a price-to-earnings-growth ratio of 1.05 and a beta of 0.48. The firm’s fifty day simple moving average is $50.41 and its two-hundred day simple moving average is $52.09.

Sanofi (NASDAQ:SNY) last posted its quarterly earnings data on Thursday, April 24th. The company reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.04. Sanofi had a net margin of 14.56% and a return on equity of 17.15%. The business had revenue of $10.41 billion for the quarter, compared to analysts’ expectations of $9.79 billion. During the same quarter in the previous year, the business posted $1.78 earnings per share. The business’s revenue was down 11.0% compared to the same quarter last year. As a group, analysts anticipate that Sanofi will post 4.36 earnings per share for the current year.

Sanofi Increases Dividend

The company also recently disclosed an annual dividend, which was paid on Thursday, June 12th. Shareholders of record on Friday, May 9th were given a dividend of $2.0369 per share. This is a boost from Sanofi’s previous annual dividend of $1.48. The ex-dividend date of this dividend was Friday, May 9th. This represents a yield of 3.1%. Sanofi’s payout ratio is 57.14%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on SNY shares. Hsbc Global Res raised shares of Sanofi to a “strong-buy” rating in a research note on Monday, April 28th. Barclays restated an “overweight” rating on shares of Sanofi in a research report on Wednesday, July 2nd. Morgan Stanley set a $56.00 price target on shares of Sanofi in a report on Monday, June 2nd. Guggenheim reissued a “buy” rating on shares of Sanofi in a research note on Tuesday, June 3rd. Finally, The Goldman Sachs Group assumed coverage on Sanofi in a research report on Friday, March 21st. They set a “neutral” rating and a $65.00 price objective on the stock. Three analysts have rated the stock with a hold rating, four have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $61.50.

About Sanofi

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.