Assetmark Inc. Sells 9,539 Shares of Regeneron Pharmaceuticals, Inc. $REGN

Key Points

• Assetmark trimmed its stake by 45.8%, selling 9,539 shares in Q4 and now holds 11,280 shares of Regeneron valued at about $8.71 million.
• Regeneron beat Q4 estimates (EPS $11.44 vs. $10.74) and recently raised its quarterly dividend to $0.94, while the stock trades around $750 with a market cap near $79.4 billion.
• Analysts maintain a consensus rating of "Moderate Buy" with an average target of $811.96, amid high institutional ownership (~83.3%) and recent insider selling of 3,774 shares.

Assetmark Inc. trimmed its position in Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN - Free Report) by 45.8% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 11,280 shares of the biopharmaceutical company's stock after selling 9,539 shares during the period. Assetmark Inc.'s holdings in Regeneron Pharmaceuticals were worth $8,707,000 as of its most recent filing with the SEC.

Several other large investors have also bought and sold shares of the stock. Dodge & Cox grew its stake in shares of Regeneron Pharmaceuticals by 18.9% in the 3rd quarter. Dodge & Cox now owns 4,550,845 shares of the biopharmaceutical company's stock valued at $2,558,804,000 after buying an additional 724,562 shares during the period. Franklin Resources Inc. grew its stake in Regeneron Pharmaceuticals by 6.0% in the 3rd quarter. Franklin Resources Inc. now owns 2,453,143 shares of the biopharmaceutical company's stock valued at $1,379,329,000 after buying an additional 139,647 shares in the last quarter. Capital World Investors grew its position in shares of Regeneron Pharmaceuticals by 1.6% during the 3rd quarter. Capital World Investors now owns 1,998,366 shares of the biopharmaceutical company's stock valued at $1,123,609,000 after purchasing an additional 32,348 shares in the last quarter. Invesco Ltd. grew its position in Regeneron Pharmaceuticals by 38.0% in the third quarter. Invesco Ltd. now owns 1,484,473 shares of the biopharmaceutical company's stock worth $834,675,000 after acquiring an additional 408,649 shares in the last quarter. Finally, Northern Trust Corp grew its position in Regeneron Pharmaceuticals by 2.7% in the third quarter. Northern Trust Corp now owns 984,792 shares of the biopharmaceutical company's stock worth $553,719,000 after acquiring an additional 26,223 shares in the last quarter. 83.31% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Truist Financial lowered their price target on shares of Regeneron Pharmaceuticals from $818.00 to $801.00 and set a "buy" rating for the company in a research note on Tuesday, March 31st. Guggenheim increased their price target on shares of Regeneron Pharmaceuticals from $865.00 to $975.00 and gave the stock a "buy" rating in a research note on Monday, February 9th. Oppenheimer reiterated an "outperform" rating and set a $865.00 price target (up from $750.00) on shares of Regeneron Pharmaceuticals in a report on Monday, February 2nd. JPMorgan Chase & Co. increased their price target on shares of Regeneron Pharmaceuticals from $850.00 to $950.00 and gave the company an "overweight" rating in a report on Monday, February 2nd. Finally, Sanford C. Bernstein decreased their price target on shares of Regeneron Pharmaceuticals from $925.00 to $921.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 8th. Two analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and nine have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $811.96.

Insider Buying and Selling at Regeneron Pharmaceuticals

In related news, SVP Jason Pitofsky sold 2,036 shares of the company's stock in a transaction on Monday, February 9th. The shares were sold at an average price of $778.52, for a total value of $1,585,066.72. Following the completion of the sale, the senior vice president owned 4,272 shares in the company, valued at $3,325,837.44. This represents a 32.28% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Huda Y. Zoghbi sold 1,638 shares of the company's stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $781.33, for a total transaction of $1,279,818.54. Following the transaction, the director directly owned 1,703 shares in the company, valued at approximately $1,330,604.99. This trade represents a 49.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 3,774 shares of company stock worth $2,942,738 over the last three months. Insiders own 7.02% of the company's stock.

Regeneron Pharmaceuticals Price Performance

Shares of REGN opened at $750.57 on Friday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 3.39 and a current ratio of 4.13. The stock has a market capitalization of $79.35 billion, a PE ratio of 18.06, a PEG ratio of 1.66 and a beta of 0.40. The company has a 50 day moving average price of $765.63 and a 200-day moving average price of $725.44. Regeneron Pharmaceuticals, Inc. has a fifty-two week low of $476.49 and a fifty-two week high of $821.11.

Regeneron Pharmaceuticals (NASDAQ:REGN - Get Free Report) last issued its quarterly earnings results on Friday, January 30th. The biopharmaceutical company reported $11.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $10.74 by $0.70. The business had revenue of $3.88 billion for the quarter, compared to analyst estimates of $3.76 billion. Regeneron Pharmaceuticals had a net margin of 31.41% and a return on equity of 13.04%. Regeneron Pharmaceuticals's revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $12.07 EPS. Equities analysts predict that Regeneron Pharmaceuticals, Inc. will post 35.92 earnings per share for the current fiscal year.

Regeneron Pharmaceuticals Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 5th. Investors of record on Friday, February 20th were given a dividend of $0.94 per share. The ex-dividend date was Friday, February 20th. This is an increase from Regeneron Pharmaceuticals's previous quarterly dividend of $0.88. This represents a $3.76 annualized dividend and a yield of 0.5%. Regeneron Pharmaceuticals's dividend payout ratio (DPR) is 9.05%.

About Regeneron Pharmaceuticals

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.

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