Ascent Group LLC Purchases Shares of 7,680 Sanofi $SNY

Key Points

• Ascent Group LLC acquired a new stake in Sanofi, purchasing 7,680 shares valued at approximately $426,000.
• Several institutional investors, including RNC Capital Management LLC and Parkwood LLC, have increased their positions in Sanofi, with Parkwood growing its stake by 76.1%.
• Analysts have shown optimism toward Sanofi, with recent upgrades from multiple brokerages resulting in a consensus rating of "Buy" and an average price target of $62.67.

Ascent Group LLC purchased a new stake in shares of Sanofi (NASDAQ:SNY - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 7,680 shares of the company's stock, valued at approximately $426,000.

Several other hedge funds have also bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Sanofi by 124.0% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 24,131 shares of the company's stock valued at $1,344,000 after acquiring an additional 13,358 shares in the last quarter. Axxcess Wealth Management LLC increased its holdings in shares of Sanofi by 130.5% in the 1st quarter. Axxcess Wealth Management LLC now owns 10,234 shares of the company's stock worth $568,000 after purchasing an additional 5,794 shares in the last quarter. Ballentine Partners LLC raised its stake in shares of Sanofi by 68.7% in the first quarter. Ballentine Partners LLC now owns 26,063 shares of the company's stock worth $1,445,000 after purchasing an additional 10,617 shares during the last quarter. Sowell Financial Services LLC bought a new position in shares of Sanofi during the first quarter valued at $328,000. Finally, Farther Finance Advisors LLC boosted its position in shares of Sanofi by 66.2% during the first quarter. Farther Finance Advisors LLC now owns 6,215 shares of the company's stock valued at $338,000 after buying an additional 2,476 shares during the last quarter. Institutional investors own 14.04% of the company's stock.

Sanofi Price Performance

Shares of SNY stock traded up $0.23 during midday trading on Wednesday, reaching $47.09. 991,532 shares of the company traded hands, compared to its average volume of 2,590,199. The firm's 50 day simple moving average is $48.58 and its two-hundred day simple moving average is $51.03. The firm has a market cap of $115.63 billion, a PE ratio of 11.32, a price-to-earnings-growth ratio of 1.10 and a beta of 0.51. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.27 and a quick ratio of 0.94. Sanofi has a 1-year low of $44.73 and a 1-year high of $60.12.

Sanofi (NASDAQ:SNY - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The company reported $0.90 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.96 by ($0.06). Sanofi had a return on equity of 16.86% and a net margin of 21.47%.The business had revenue of $11.34 billion during the quarter, compared to analyst estimates of $9.91 billion. During the same period in the previous year, the business posted $1.73 earnings per share. The firm's quarterly revenue was down 7.0% on a year-over-year basis. On average, equities research analysts expect that Sanofi will post 4.36 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on SNY. Morgan Stanley raised Sanofi from an "equal weight" rating to an "overweight" rating and raised their target price for the stock from $56.00 to $58.00 in a research report on Monday, September 8th. Guggenheim restated a "buy" rating on shares of Sanofi in a research report on Tuesday, June 3rd. Wall Street Zen upgraded shares of Sanofi from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Barclays reissued an "overweight" rating on shares of Sanofi in a research report on Wednesday, July 2nd. Finally, JPMorgan Chase & Co. raised Sanofi from a "neutral" rating to an "overweight" rating in a report on Friday, August 8th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, Sanofi presently has a consensus rating of "Buy" and an average target price of $62.67.

Sanofi Company Profile

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.