Norges Bank Invests $628.15 Million in Regeneron Pharmaceuticals, Inc. $REGN

Norges Bank purchased a new stake in shares of Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 1,196,479 shares of the biopharmaceutical company’s stock, valued at approximately $628,151,000. Norges Bank owned about 1.13% of Regeneron Pharmaceuticals as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in REGN. Vanguard Group Inc. boosted its stake in Regeneron Pharmaceuticals by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 9,407,891 shares of the biopharmaceutical company’s stock valued at $5,966,767,000 after purchasing an additional 121,545 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of Regeneron Pharmaceuticals by 1.6% during the second quarter. Franklin Resources Inc. now owns 2,313,496 shares of the biopharmaceutical company’s stock valued at $1,214,585,000 after purchasing an additional 36,821 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Regeneron Pharmaceuticals by 4.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,175,026 shares of the biopharmaceutical company’s stock valued at $1,379,467,000 after buying an additional 89,579 shares during the last quarter. Amundi increased its holdings in Regeneron Pharmaceuticals by 3.4% in the 1st quarter. Amundi now owns 1,603,901 shares of the biopharmaceutical company’s stock worth $979,794,000 after buying an additional 52,166 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its position in Regeneron Pharmaceuticals by 18.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,143,093 shares of the biopharmaceutical company’s stock worth $724,984,000 after buying an additional 174,056 shares during the last quarter. 83.31% of the stock is currently owned by hedge funds and other institutional investors.

Regeneron Pharmaceuticals Trading Down 0.7%

NASDAQ:REGN opened at $779.09 on Friday. Regeneron Pharmaceuticals, Inc. has a one year low of $476.49 and a one year high of $800.99. The business has a fifty day moving average price of $634.75 and a 200-day moving average price of $583.49. The firm has a market capitalization of $81.88 billion, a price-to-earnings ratio of 18.66, a price-to-earnings-growth ratio of 2.03 and a beta of 0.31. The company has a debt-to-equity ratio of 0.09, a current ratio of 4.06 and a quick ratio of 3.72.

Regeneron Pharmaceuticals (NASDAQ:REGN) last released its quarterly earnings results on Tuesday, October 28th. The biopharmaceutical company reported $11.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.73 by $2.10. Regeneron Pharmaceuticals had a return on equity of 13.76% and a net margin of 32.13%.The business had revenue of $3.75 billion during the quarter, compared to analyst estimates of $3.57 billion. During the same quarter in the previous year, the company posted $12.46 earnings per share. Regeneron Pharmaceuticals’s revenue for the quarter was up .9% on a year-over-year basis. Sell-side analysts forecast that Regeneron Pharmaceuticals, Inc. will post 35.92 EPS for the current year.

Regeneron Pharmaceuticals Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 5th. Shareholders of record on Thursday, November 20th will be given a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date is Thursday, November 20th. Regeneron Pharmaceuticals’s dividend payout ratio is presently 8.43%.

Insiders Place Their Bets

In other Regeneron Pharmaceuticals news, VP Jason Pitofsky sold 431 shares of the stock in a transaction on Friday, November 7th. The stock was sold at an average price of $651.43, for a total value of $280,766.33. Following the completion of the sale, the vice president owned 4,233 shares in the company, valued at approximately $2,757,503.19. This represents a 9.24% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Christine A. Poon sold 6,500 shares of the firm’s stock in a transaction dated Wednesday, October 29th. The shares were sold at an average price of $654.27, for a total value of $4,252,755.00. Following the sale, the director directly owned 2,352 shares in the company, valued at approximately $1,538,843.04. This represents a 73.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 7.02% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on REGN. HSBC began coverage on shares of Regeneron Pharmaceuticals in a report on Monday, November 24th. They set a “buy” rating and a $255.00 price target on the stock. Hsbc Global Res upgraded shares of Regeneron Pharmaceuticals to a “strong-buy” rating in a report on Monday, November 24th. Royal Bank Of Canada lifted their target price on shares of Regeneron Pharmaceuticals from $704.00 to $708.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 29th. UBS Group increased their price target on Regeneron Pharmaceuticals from $595.00 to $660.00 and gave the company a “neutral” rating in a report on Friday, November 7th. Finally, Redburn Atlantic raised Regeneron Pharmaceuticals to a “strong-buy” rating in a report on Thursday, August 14th. Three analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Regeneron Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus price target of $757.91.

About Regeneron Pharmaceuticals

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.