Avantax Advisory Services Inc. Increases Position in Sanofi (NASDAQ:SNY)

Key Points

• Avantax Advisory Services Inc. increased its stake in Sanofi by 18.8% during Q1, acquiring an additional 8,374 shares, bringing its total holdings to 52,881 shares valued at approximately $2.93 million.
• Multiple institutional investors made moves regarding Sanofi, with significant investments from firms like One Wealth Advisors and Carnegie Investment Counsel, contributing to a total institutional ownership of 14.04%.
• Sanofi's current market capitalization is approximately $121.03 billion, with a consensus rating of "Buy" and a target price set at $62.00 among analysts.

Avantax Advisory Services Inc. lifted its position in shares of Sanofi (NASDAQ:SNY - Free Report) by 18.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 52,881 shares of the company's stock after purchasing an additional 8,374 shares during the period. Avantax Advisory Services Inc.'s holdings in Sanofi were worth $2,933,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Invesco Ltd. increased its stake in shares of Sanofi by 3.5% during the fourth quarter. Invesco Ltd. now owns 12,059,283 shares of the company's stock worth $581,619,000 after acquiring an additional 408,752 shares during the period. Bank of America Corp DE increased its stake in shares of Sanofi by 3.8% during the fourth quarter. Bank of America Corp DE now owns 12,017,140 shares of the company's stock worth $579,587,000 after acquiring an additional 441,637 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of Sanofi by 88.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 10,843,682 shares of the company's stock worth $522,991,000 after acquiring an additional 5,091,304 shares during the period. Franklin Resources Inc. increased its stake in shares of Sanofi by 10.8% during the fourth quarter. Franklin Resources Inc. now owns 3,776,982 shares of the company's stock worth $182,164,000 after acquiring an additional 369,530 shares during the period. Finally, Nuveen Asset Management LLC increased its stake in shares of Sanofi by 1.0% during the fourth quarter. Nuveen Asset Management LLC now owns 3,676,224 shares of the company's stock worth $177,304,000 after acquiring an additional 34,660 shares during the period. 14.04% of the stock is owned by hedge funds and other institutional investors.

Sanofi Trading Up 2.4%

Shares of SNY traded up $1.11 on Friday, hitting $46.75. 2,518,877 shares of the stock traded hands, compared to its average volume of 2,571,072. The company has a quick ratio of 0.69, a current ratio of 1.37 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $114.65 billion, a P/E ratio of 16.70, a P/E/G ratio of 1.12 and a beta of 0.48. The stock's 50 day moving average is $49.21 and its two-hundred day moving average is $52.09. Sanofi has a 1 year low of $44.73 and a 1 year high of $60.12.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Barclays restated an "overweight" rating on shares of Sanofi in a research report on Wednesday, July 2nd. Morgan Stanley set a $56.00 target price on shares of Sanofi in a research report on Monday, June 2nd. Guggenheim restated a "buy" rating on shares of Sanofi in a research report on Tuesday, June 3rd. BNP Paribas assumed coverage on shares of Sanofi in a research report on Tuesday, April 15th. They set an "outperform" rating and a $65.00 target price on the stock. Finally, Hsbc Global Res upgraded shares of Sanofi to a "strong-buy" rating in a research report on Monday, April 28th. Three research analysts have rated the stock with a hold rating, three have assigned a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $62.00.

Sanofi 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.