24,392 Regeneron Pharmaceuticals, Inc. $REGN Shares Sold by Pictet Asset Management Holding SA

Key Points

• Pictet Asset Management cut its Regeneron stake by 15.9%, selling 24,392 shares in the third quarter and retaining 129,108 shares valued at about $97.2 million.
• Regeneron reported quarterly EPS of $20.07, beating the $16.51 consensus, while revenue of $5.12 billion topped estimates and rose 36.3% year over year.
• Analysts’ consensus rating is “Moderate Buy”, with an average price target of $898.97; meanwhile, company insiders sold 27,028 shares worth about $25 million over the past 90 days.

Pictet Asset Management Holding SA lessened its stake in Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN - Free Report) by 15.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 129,108 shares of the biopharmaceutical company's stock after selling 24,392 shares during the period. Pictet Asset Management Holding SA owned 0.13% of Regeneron Pharmaceuticals worth $97,236,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in Regeneron Pharmaceuticals in the 2nd quarter worth about $5,682,636,000. State Street Corp increased its position in shares of Regeneron Pharmaceuticals by 3.6% during the second quarter. State Street Corp now owns 4,834,688 shares of the biopharmaceutical company's stock worth $3,014,621,000 after acquiring an additional 170,210 shares during the period. Bank of America Corp DE increased its position in shares of Regeneron Pharmaceuticals by 2.8% during the first quarter. Bank of America Corp DE now owns 1,189,584 shares of the biopharmaceutical company's stock worth $919,120,000 after acquiring an additional 32,158 shares during the period. Amundi boosted its holdings in shares of Regeneron Pharmaceuticals by 27.5% in the first quarter. Amundi now owns 1,009,798 shares of the biopharmaceutical company's stock valued at $780,210,000 after purchasing an additional 217,892 shares during the period. Finally, Legal & General Group Plc purchased a new stake in shares of Regeneron Pharmaceuticals in the second quarter valued at approximately $473,872,000. Institutional investors own 83.31% of the company's stock.

Insider Activity at Regeneron Pharmaceuticals

In other Regeneron Pharmaceuticals news, Director Christine Poon sold 7,830 shares of the stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $969.09, for a total transaction of $7,587,974.70. Following the sale, the director owned 5,219 shares of the company's stock, valued at approximately $5,057,680.71. This trade represents a 60.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kathryn Guarini sold 400 shares of the stock in a transaction on Friday, October 30th. The shares were sold at an average price of $900.00, for a total value of $360,000.00. Following the sale, the director directly owned 603 shares in the company, valued at $542,700. This trade represents a 39.88% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 27,028 shares of company stock valued at $25,025,950 over the last 90 days. Insiders own 6.97% of the company's stock.

Regeneron Pharmaceuticals Trading Up 1.7%

NASDAQ:REGN opened at $919.96 on Tuesday. The firm has a 50-day simple moving average of $806.90 and a 200-day simple moving average of $743.66. Regeneron Pharmaceuticals, Inc. has a one year low of $591.52 and a one year high of $991.73. The firm has a market cap of $94.72 billion, a P/E ratio of 19.49, a P/E/G ratio of 1.38 and a beta of 0.10. The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.66 and a current ratio of 3.35.

Regeneron Pharmaceuticals (NASDAQ:REGN - Get Free Report) last released its quarterly earnings data on Friday, October 30th. The biopharmaceutical company reported $20.07 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $16.51 by $3.56. The firm had revenue of $5.12 billion for the quarter, compared to the consensus estimate of $4.58 billion. Regeneron Pharmaceuticals had a net margin of 28.51% and a return on equity of 16.01%. The company's quarterly revenue was up 36.3% on a year-over-year basis. During the same period last year, the firm earned $11.83 earnings per share. Equities analysts anticipate that Regeneron Pharmaceuticals, Inc. will post 58.26 EPS for the current fiscal year.

Regeneron Pharmaceuticals Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 3rd. Shareholders of record on Friday, November 20th will be issued a dividend of $0.94 per share. The ex-dividend date is Friday, November 20th. This represents a $3.76 dividend on an annualized basis and a yield of 0.4%. Regeneron Pharmaceuticals's dividend payout ratio is currently 8.30%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on REGN shares. Royal Bank Of Canada increased their price objective on Regeneron Pharmaceuticals from $810.00 to $913.00 and gave the stock a "sector perform" rating in a research note on Monday, November 2nd. Wall Street Zen raised Regeneron Pharmaceuticals from a "buy" rating to a "strong-buy" rating in a research report on Sunday, September 20th. Piper Sandler upped their target price on Regeneron Pharmaceuticals from $854.00 to $865.00 and gave the stock an "overweight" rating in a report on Monday, October 19th. Raymond James Financial increased their price target on Regeneron Pharmaceuticals from $902.00 to $911.00 and gave the stock an "outperform" rating in a research report on Friday, July 31st. Finally, Bank of America raised their price target on Regeneron Pharmaceuticals from $908.00 to $1,030.00 and gave the company a "buy" rating in a research note on Monday, November 2nd. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $898.97.

Regeneron Pharmaceuticals Profile

Regeneron Pharmaceuticals, Inc is a biotechnology company that discovers, develops, manufactures and commercializes medicines for serious diseases. Its research and product portfolio spans areas including eye disease, allergic and inflammatory conditions, cancer, cardiovascular and metabolic disorders, infectious diseases and rare conditions.

The company's medicines include EYLEA for certain eye diseases, Dupixent for inflammatory conditions and Libtayo for cancer. Regeneron also develops and markets treatments with pharmaceutical partners, including Sanofi, and its products reach patients in the United States and international markets through its own operations and collaborations.

Founded in 1988, Regeneron is headquartered in Tarrytown, New York.

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