Ballentine Partners LLC Lowers Stock Holdings in Sanofi $SNY

Key Points

• Ballentine Partners LLC reduced its stake in Sanofi by 24.3% in the 2nd quarter, now owning 19,724 shares worth approximately $953,000.
• Several hedge funds have either added to or reduced their stakes in Sanofi, with 14.04% of the stock currently owned by institutional investors and hedge funds.
• Research analysts have a consensus rating of "Buy" for Sanofi, with Morgan Stanley raising its price target from $56.00 to $58.00.

Ballentine Partners LLC cut its stake in shares of Sanofi (NASDAQ:SNY - Free Report) by 24.3% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 19,724 shares of the company's stock after selling 6,339 shares during the period. Ballentine Partners LLC's holdings in Sanofi were worth $953,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in SNY. Accent Capital Management LLC purchased a new stake in shares of Sanofi during the first quarter worth approximately $29,000. Eastern Bank raised its position in Sanofi by 121.0% during the 1st quarter. Eastern Bank now owns 548 shares of the company's stock worth $30,000 after buying an additional 300 shares during the last quarter. Banque Transatlantique SA purchased a new position in Sanofi during the 1st quarter worth $33,000. Golden State Wealth Management LLC lifted its stake in shares of Sanofi by 619.3% in the 1st quarter. Golden State Wealth Management LLC now owns 633 shares of the company's stock worth $35,000 after acquiring an additional 545 shares during the period. Finally, Brentview Investment Management LLC purchased a new stake in shares of Sanofi in the first quarter valued at about $42,000. 14.04% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Sanofi Trading Down 2.9%

NASDAQ SNY opened at $45.07 on Friday. The company's fifty day simple moving average is $48.32 and its 200-day simple moving average is $50.51. The company has a current ratio of 1.27, a quick ratio of 0.94 and a debt-to-equity ratio of 0.19. The stock has a market cap of $110.67 billion, a P/E ratio of 10.83, a PEG ratio of 1.09 and a beta of 0.51. Sanofi has a 52 week low of $44.73 and a 52 week high of $60.12.

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

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.

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