Wedge Capital Management L L P NC Buys New Position in Regeneron Pharmaceuticals, Inc. $REGN

Wedge Capital Management L L P NC bought a new position in shares of Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 45,195 shares of the biopharmaceutical company’s stock, valued at approximately $25,412,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of REGN. Dodge & Cox raised its holdings in shares of Regeneron Pharmaceuticals by 64.6% in the 2nd quarter. Dodge & Cox now owns 3,826,283 shares of the biopharmaceutical company’s stock worth $2,008,799,000 after purchasing an additional 1,502,198 shares in the last quarter. Norges Bank bought a new stake in Regeneron Pharmaceuticals during the second quarter worth approximately $628,151,000. Acadian Asset Management LLC grew its position in Regeneron Pharmaceuticals by 234.7% in the second quarter. Acadian Asset Management LLC now owns 465,740 shares of the biopharmaceutical company’s stock worth $244,480,000 after buying an additional 326,583 shares during the last quarter. Loomis Sayles & Co. L P increased its holdings in shares of Regeneron Pharmaceuticals by 18.6% in the second quarter. Loomis Sayles & Co. L P now owns 1,941,070 shares of the biopharmaceutical company’s stock valued at $1,019,062,000 after buying an additional 305,089 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in shares of Regeneron Pharmaceuticals by 26.5% in the second quarter. Invesco Ltd. now owns 1,075,824 shares of the biopharmaceutical company’s stock valued at $564,808,000 after buying an additional 225,078 shares in the last quarter. 83.31% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Regeneron Pharmaceuticals news, VP Jason Pitofsky sold 431 shares of Regeneron Pharmaceuticals stock in a transaction on Friday, November 7th. The shares were sold at an average price of $651.43, for a total transaction of $280,766.33. Following the completion of the sale, the vice president owned 4,233 shares of the company’s stock, valued at $2,757,503.19. This trade represents a 9.24% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Christine A. Poon sold 6,500 shares of the business’s stock in a transaction on Wednesday, October 29th. The shares were sold at an average price of $654.27, for a total transaction of $4,252,755.00. Following the transaction, the director 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 disclosure for this sale is available in the SEC filing. 7.02% of the stock is owned by corporate insiders.

Regeneron Pharmaceuticals Trading Up 2.6%

Shares of NASDAQ REGN opened at $767.96 on Friday. Regeneron Pharmaceuticals, Inc. has a one year low of $476.49 and a one year high of $790.98. The firm has a market capitalization of $80.71 billion, a PE ratio of 18.39, a PEG ratio of 2.21 and a beta of 0.37. The company has a current ratio of 4.06, a quick ratio of 3.33 and a debt-to-equity ratio of 0.09. The business has a 50-day moving average price of $682.40 and a two-hundred day moving average price of $600.42.

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

Regeneron Pharmaceuticals Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 5th. Shareholders of record on Thursday, November 20th were paid a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 0.5%. The ex-dividend date was Thursday, November 20th. Regeneron Pharmaceuticals’s dividend payout ratio is currently 8.43%.

Wall Street Analyst Weigh In

REGN has been the subject of several research reports. Hsbc Global Res raised Regeneron Pharmaceuticals to a “strong-buy” rating in a research note on Monday, November 24th. Raymond James Financial upgraded Regeneron Pharmaceuticals to a “moderate buy” rating in a research report on Tuesday, September 2nd. Citigroup lifted their price target on Regeneron Pharmaceuticals from $660.00 to $700.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. Jefferies Financial Group upped their price objective on shares of Regeneron Pharmaceuticals from $813.00 to $831.00 and gave the company a “buy” rating in a research note on Wednesday, August 27th. Finally, Truist Financial initiated coverage on shares of Regeneron Pharmaceuticals in a report on Monday, November 24th. They issued a “buy” rating and a $798.00 target price for the company. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Regeneron Pharmaceuticals presently has an average rating of “Moderate Buy” and an average target price of $779.45.

Regeneron Pharmaceuticals Company Profile

Regeneron Pharmaceuticals, Inc (NASDAQ: REGN) is a U.S.-based biotechnology company founded in 1988 and headquartered in Tarrytown, New York. It focuses on discovering, developing, manufacturing and commercializing medicines for serious medical conditions. The company combines laboratory research, clinical development and in-house manufacturing to advance a pipeline of biologic therapies across multiple therapeutic areas.

Regeneron is known for its proprietary drug discovery technologies, including its VelocImmune platform, which is used to generate fully human monoclonal antibodies.