Bank of New York Mellon Corp Raises Stock Position in Regeneron Pharmaceuticals, Inc. $REGN

Key Points

• Bank of New York Mellon increased its Regeneron stake by 13.8% in the fourth quarter, bringing its holdings to 764,242 shares worth about $589.9 million.
• Regeneron beat Wall Street expectations in its latest quarter, reporting EPS of $9.47 versus $8.91 expected and revenue of $3.61 billion versus $3.48 billion estimated, with revenue up 19% year over year.
• Analysts remain generally positive despite some lower price targets: the stock carries a Moderate Buy consensus and an average price target of $792.65, while Regeneron also announced a quarterly dividend of $0.94 per share.

Bank of New York Mellon Corp boosted its position in shares of Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN - Free Report) by 13.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 764,242 shares of the biopharmaceutical company's stock after acquiring an additional 92,612 shares during the period. Bank of New York Mellon Corp owned 0.73% of Regeneron Pharmaceuticals worth $589,896,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. WPG Advisers LLC grew its stake in Regeneron Pharmaceuticals by 312.5% during the fourth quarter. WPG Advisers LLC now owns 33 shares of the biopharmaceutical company's stock valued at $25,000 after acquiring an additional 25 shares in the last quarter. Board of the Pension Protection Fund purchased a new position in Regeneron Pharmaceuticals during the fourth quarter valued at approximately $31,000. Entrust Financial LLC purchased a new position in Regeneron Pharmaceuticals during the fourth quarter valued at approximately $32,000. Caitlin John LLC purchased a new position in Regeneron Pharmaceuticals during the third quarter valued at approximately $34,000. Finally, FNY Investment Advisers LLC purchased a new position in Regeneron Pharmaceuticals during the fourth quarter valued at approximately $38,000. Hedge funds and other institutional investors own 83.31% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Piper Sandler cut their price target on shares of Regeneron Pharmaceuticals from $875.00 to $855.00 and set an "overweight" rating for the company in a research note on Monday, May 18th. Truist Financial cut their price target on shares of Regeneron Pharmaceuticals from $796.00 to $778.00 and set a "buy" rating for the company in a research note on Monday, May 18th. Weiss Ratings reissued a "hold (c)" rating on shares of Regeneron Pharmaceuticals in a research note on Friday, March 27th. Guggenheim boosted their price target on shares of Regeneron Pharmaceuticals from $975.00 to $995.00 and gave the stock a "buy" rating in a research note on Friday, May 1st. Finally, JPMorgan Chase & Co. reduced their target price on shares of Regeneron Pharmaceuticals from $950.00 to $850.00 and set an "overweight" rating on the stock in a report on Monday, May 18th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat.com, Regeneron Pharmaceuticals has a consensus rating of "Moderate Buy" and an average price target of $792.65.

Regeneron Pharmaceuticals Stock Up 2.7%

Shares of NASDAQ REGN opened at $618.95 on Thursday. The company has a current ratio of 3.57, a quick ratio of 2.96 and a debt-to-equity ratio of 0.06. Regeneron Pharmaceuticals, Inc. has a 12 month low of $476.49 and a 12 month high of $821.11. The firm has a market capitalization of $65.44 billion, a PE ratio of 15.08, a price-to-earnings-growth ratio of 1.33 and a beta of 0.25. The firm has a fifty day simple moving average of $711.47 and a two-hundred day simple moving average of $743.37.

Regeneron Pharmaceuticals (NASDAQ:REGN - Get Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The biopharmaceutical company reported $9.47 EPS for the quarter, topping the consensus estimate of $8.91 by $0.56. The business had revenue of $3.61 billion during the quarter, compared to analyst estimates of $3.48 billion. Regeneron Pharmaceuticals had a net margin of 29.65% and a return on equity of 13.16%. The company's revenue for the quarter was up 19.0% on a year-over-year basis. During the same period in the prior year, the business earned $8.22 EPS. Equities analysts expect that Regeneron Pharmaceuticals, Inc. will post 37.25 earnings per share for the current year.

Regeneron Pharmaceuticals Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 4th. Stockholders of record on Wednesday, May 20th will be given a $0.94 dividend. The ex-dividend date of this dividend is Wednesday, May 20th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.6%. Regeneron Pharmaceuticals's dividend payout ratio is currently 9.16%.

Insider Buying and Selling at Regeneron Pharmaceuticals

In other news, Director Arthur F. Ryan sold 100 shares of the company's stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $705.24, for a total value of $70,524.00. Following the sale, the director directly owned 17,503 shares of the company's stock, valued at $12,343,815.72. This represents a 0.57% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 6.97% of the stock is owned by corporate insiders.

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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