Assenagon Asset Management S.A. Lowers Position in Regeneron Pharmaceuticals, Inc. $REGN

Key Points

• Assenagon Asset Management S.A. reduced its stake in Regeneron Pharmaceuticals by 12.1%, bringing its total ownership to 423,325 shares valued at approximately $222.25 million.
• The company reported a significant earnings beat for the last quarter with $12.89 EPS, exceeding estimates by $4.46, alongside revenues of $3.68 billion.
• Analysts rate Regeneron Pharmaceuticals as a Moderate Buy with an average target price of $817.67, reflecting confident future performance expectations.

Assenagon Asset Management S.A. cut its stake in Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN - Free Report) by 12.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 423,325 shares of the biopharmaceutical company's stock after selling 58,064 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.39% of Regeneron Pharmaceuticals worth $222,246,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in Regeneron Pharmaceuticals by 1.3% in the first quarter. Vanguard Group Inc. now owns 9,407,891 shares of the biopharmaceutical company's stock valued at $5,966,767,000 after acquiring an additional 121,545 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in Regeneron Pharmaceuticals by 4.3% in 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 acquiring an additional 89,579 shares during the period. Amundi lifted its holdings in Regeneron Pharmaceuticals by 3.4% in the first quarter. Amundi now owns 1,603,901 shares of the biopharmaceutical company's stock valued at $979,794,000 after acquiring an additional 52,166 shares during the period. Goldman Sachs Group Inc. lifted its holdings in Regeneron Pharmaceuticals by 18.0% in the first quarter. Goldman Sachs Group Inc. now owns 1,143,093 shares of the biopharmaceutical company's stock valued at $724,984,000 after acquiring an additional 174,056 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in Regeneron Pharmaceuticals by 89,825.0% in the first quarter. GAMMA Investing LLC now owns 815,620 shares of the biopharmaceutical company's stock valued at $517,291,000 after acquiring an additional 814,713 shares during the period. 83.31% of the stock is owned by institutional investors and hedge funds.

Regeneron Pharmaceuticals Price Performance

NASDAQ REGN traded down $6.72 during mid-day trading on Friday, hitting $591.99. The stock had a trading volume of 2,177,965 shares, compared to its average volume of 914,839. The firm's 50 day moving average is $567.77 and its 200 day moving average is $575.13. Regeneron Pharmaceuticals, Inc. has a twelve month low of $476.49 and a twelve month high of $1,154.56. The company has a debt-to-equity ratio of 0.09, a current ratio of 4.60 and a quick ratio of 3.72. The stock has a market capitalization of $62.74 billion, a price-to-earnings ratio of 14.92, a PEG ratio of 1.98 and a beta of 0.35.

Regeneron Pharmaceuticals (NASDAQ:REGN - Get Free Report) last posted its quarterly earnings data on Friday, August 1st. The biopharmaceutical company reported $12.89 EPS 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 firm had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $3.30 billion. During the same period in the prior year, the company earned $11.56 EPS. The firm's revenue was up 3.6% compared to the same quarter last year. Equities research analysts forecast that Regeneron Pharmaceuticals, Inc. will post 35.92 earnings per share for the current fiscal year.

Regeneron Pharmaceuticals Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 3rd. Shareholders of record on Monday, August 18th were issued a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 0.6%. The ex-dividend date was Monday, August 18th. Regeneron Pharmaceuticals's dividend payout ratio is presently 8.87%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Sanford C. Bernstein boosted their price target on Regeneron Pharmaceuticals from $753.00 to $781.00 and gave the company an "outperform" rating in a report on Wednesday, August 27th. Argus downgraded Regeneron Pharmaceuticals from a "buy" rating to a "hold" rating in a research note on Monday, June 30th. Guggenheim upped their target price on Regeneron Pharmaceuticals from $810.00 to $815.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. BMO Capital Markets upped their target price on Regeneron Pharmaceuticals from $600.00 to $640.00 and gave the stock an "outperform" rating in a research note on Monday, August 4th. Finally, Rothschild & Co Redburn assumed coverage on Regeneron Pharmaceuticals in a research note on Thursday, August 14th. They set a "buy" rating and a $890.00 target price for the company. Three research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Regeneron Pharmaceuticals currently 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.