Panagora Asset Management Inc. Sells 334 Shares of Regeneron Pharmaceuticals, Inc. $REGN

Panagora Asset Management Inc. cut its stake in shares of Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) by 0.3% in the first quarter, HoldingsChannel reports. The fund owned 102,948 shares of the biopharmaceutical company’s stock after selling 334 shares during the period. Panagora Asset Management Inc.’s holdings in Regeneron Pharmaceuticals were worth $65,293,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Activest Wealth Management grew its stake in shares of Regeneron Pharmaceuticals by 110.5% during the 1st quarter. Activest Wealth Management now owns 40 shares of the biopharmaceutical company’s stock valued at $25,000 after acquiring an additional 21 shares during the period. The Manufacturers Life Insurance Company boosted its stake in Regeneron Pharmaceuticals by 11.7% in the 1st quarter. The Manufacturers Life Insurance Company now owns 398,236 shares of the biopharmaceutical company’s stock worth $252,574,000 after purchasing an additional 41,826 shares during the period. Te Ahumairangi Investment Management Ltd bought a new position in Regeneron Pharmaceuticals in the 1st quarter worth approximately $896,000. Trexquant Investment LP boosted its stake in Regeneron Pharmaceuticals by 0.5% in the 1st quarter. Trexquant Investment LP now owns 56,931 shares of the biopharmaceutical company’s stock worth $36,107,000 after purchasing an additional 306 shares during the period. Finally, Landscape Capital Management L.L.C. bought a new position in Regeneron Pharmaceuticals in the 1st quarter worth approximately $1,033,000. 83.31% of the stock is currently owned by institutional investors.

Regeneron Pharmaceuticals Stock Performance

NASDAQ:REGN opened at $580.70 on Friday. The stock’s fifty day moving average is $557.26 and its 200 day moving average is $588.08. Regeneron Pharmaceuticals, Inc. has a fifty-two week low of $476.49 and a fifty-two week high of $1,210.97. The firm has a market capitalization of $61.55 billion, a PE ratio of 14.63, a PEG ratio of 1.93 and a beta of 0.33. The company has a debt-to-equity ratio of 0.09, a quick ratio of 3.72 and a current ratio of 4.60.

Regeneron Pharmaceuticals (NASDAQ:REGN) last released its quarterly earnings results on Friday, August 1st. The biopharmaceutical company reported $12.89 earnings per share for the quarter, beating the consensus estimate of $8.43 by $4.46. Regeneron Pharmaceuticals had a return on equity of 15.06% and a net margin of 31.37%.The company had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.30 billion. During the same quarter in the prior year, the firm posted $11.56 EPS. Regeneron Pharmaceuticals’s quarterly revenue was up 3.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Regeneron Pharmaceuticals, Inc. will post 35.92 earnings per share for the current year.

Regeneron Pharmaceuticals Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 3rd. Investors of record on Monday, August 18th will be issued a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 0.6%. The ex-dividend date is Monday, August 18th. Regeneron Pharmaceuticals’s dividend payout ratio is presently 8.87%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on REGN. Argus downgraded Regeneron Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Monday, June 30th. Redburn Atlantic upgraded Regeneron Pharmaceuticals to a “strong-buy” rating in a research note on Thursday, August 14th. Truist Financial dropped their price target on Regeneron Pharmaceuticals from $940.00 to $812.00 and set a “buy” rating for the company in a research note on Monday, August 11th. Guggenheim upped their price target on Regeneron Pharmaceuticals from $810.00 to $815.00 and gave the stock a “buy” rating in a research note on Friday, August 1st. Finally, Morgan Stanley restated an “overweight” rating and issued a $761.00 price target (up from $754.00) on shares of Regeneron Pharmaceuticals in a research note on Friday, August 1st. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $817.67.

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.