BlackRock Inc. Makes New $5.68 Billion Investment in Regeneron Pharmaceuticals, Inc. $REGN

Key Points

• BlackRock acquired 9.1 million Regeneron shares worth approximately $5.68 billion, giving it an 8.62% stake. Institutional investors and hedge funds collectively own 83.31% of the company.
• Analyst sentiment remains positive, with 16 Buy ratings and 10 Hold ratings producing a “Moderate Buy” consensus and an average price target of $801.70. Several firms recently adjusted their targets, both upward and downward.
• Regeneron reported strong quarterly results, with earnings of $14.29 per share and revenue of $4.29 billion, surpassing estimates and representing 16.7% year-over-year revenue growth. The company also declared a quarterly dividend of $0.94 per share.

BlackRock Inc. acquired a new position in Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The firm acquired 9,113,506 shares of the biopharmaceutical company's stock, valued at approximately $5,682,636,000. BlackRock Inc. owned 8.62% of Regeneron Pharmaceuticals at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Brighton Jones LLC raised its position in Regeneron Pharmaceuticals by 261.8% in the fourth quarter. Brighton Jones LLC now owns 948 shares of the biopharmaceutical company's stock valued at $675,000 after purchasing an additional 686 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in Regeneron Pharmaceuticals in the 1st quarter worth approximately $226,000. Arrowstreet Capital Limited Partnership acquired a new stake in Regeneron Pharmaceuticals in the second quarter valued at approximately $3,183,000. Gabelli Funds LLC grew its position in Regeneron Pharmaceuticals by 3.0% in the second quarter. Gabelli Funds LLC now owns 1,863 shares of the biopharmaceutical company's stock valued at $978,000 after acquiring an additional 55 shares in the last quarter. Finally, Sei Investments Co. raised its stake in shares of Regeneron Pharmaceuticals by 18.8% during the second quarter. Sei Investments Co. now owns 32,341 shares of the biopharmaceutical company's stock valued at $16,985,000 after purchasing an additional 5,120 shares during the period. 83.31% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Benchmark raised shares of Regeneron Pharmaceuticals from a "hold" rating to a "buy" rating and set a $185.00 target price on the stock in a research report on Tuesday, July 7th. BMO Capital Markets lowered their price target on shares of Regeneron Pharmaceuticals from $900.00 to $730.00 and set an "outperform" rating for the company in a report on Monday, May 18th. Canaccord Genuity Group dropped their price target on shares of Regeneron Pharmaceuticals from $1,057.00 to $875.00 and set a "buy" rating on the stock in a research note on Tuesday, May 19th. Cantor Fitzgerald boosted their price objective on shares of Regeneron Pharmaceuticals from $750.00 to $795.00 and gave the stock an "overweight" rating in a report on Friday, July 31st. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Regeneron Pharmaceuticals from $950.00 to $850.00 and set an "overweight" rating for the company in a research report on Monday, May 18th. Sixteen analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $801.70.

Insiders Place Their Bets

In other Regeneron Pharmaceuticals news, Director Arthur F. Ryan sold 200 shares of the business's stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $650.15, for a total transaction of $130,030.00. Following the completion of the sale, the director owned 17,303 shares in the company, valued at $11,249,545.45. The trade was a 1.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kathryn Guarini sold 400 shares of the stock in a transaction on Monday, August 10th. The stock was sold at an average price of $800.00, for a total transaction of $320,000.00. Following the sale, the director directly owned 603 shares in the company, valued at $482,400. This trade represents a 39.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 1,400 shares of company stock valued at $1,090,030 over the last 90 days. 6.97% of the stock is owned by company insiders.

Regeneron Pharmaceuticals Stock Up 0.3%

Shares of Regeneron Pharmaceuticals stock opened at $805.93 on Tuesday. The business has a 50-day moving average price of $679.69 and a 200 day moving average price of $714.24. Regeneron Pharmaceuticals, Inc. has a fifty-two week low of $541.00 and a fifty-two week high of $821.11. The firm has a market cap of $82.98 billion, a P/E ratio of 19.92, a P/E/G ratio of 1.37 and a beta of 0.21. The company has a quick ratio of 2.78, a current ratio of 3.34 and a debt-to-equity ratio of 0.06.

Regeneron Pharmaceuticals (NASDAQ:REGN - Get Free Report) last released its earnings results on Thursday, July 30th. The biopharmaceutical company reported $14.29 EPS for the quarter, topping analysts' consensus estimates of $10.16 by $4.13. Regeneron Pharmaceuticals had a return on equity of 13.47% and a net margin of 27.86%.The company had revenue of $4.29 billion for the quarter, compared to the consensus estimate of $3.82 billion. During the same quarter last year, the business posted $12.81 EPS. Regeneron Pharmaceuticals's quarterly revenue was up 16.7% compared to the same quarter last year. On average, sell-side analysts forecast that Regeneron Pharmaceuticals, Inc. will post 44.25 earnings per share for the current fiscal year.

Regeneron Pharmaceuticals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Tuesday, August 18th will be issued a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend is Tuesday, August 18th. Regeneron Pharmaceuticals's payout ratio is currently 9.29%.

Regeneron Pharmaceuticals Profile

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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