Regeneron Pharmaceuticals, Inc. $REGN Stock Position Reduced by Canada Pension Plan Investment Board

Key Points

• The Canada Pension Plan Investment Board reduced its holdings in Regeneron Pharmaceuticals by 16.4%, selling 39,918 shares and now owns about 0.19% of the company, valued at $129 million.
• Analyst ratings for Regeneron are largely positive, with three "Strong Buy" ratings and a consensus target price of $817.67 following several upgrades from prominent financial institutions.
• Regeneron Pharmaceuticals reported strong quarterly earnings with $12.89 EPS, beating estimates by over $4, and a revenue of $3.68 billion for the quarter.

Canada Pension Plan Investment Board decreased its stake in shares of Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN - Free Report) by 16.4% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 203,555 shares of the biopharmaceutical company's stock after selling 39,918 shares during the period. Canada Pension Plan Investment Board owned 0.19% of Regeneron Pharmaceuticals worth $129,101,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of REGN. Brighton Jones LLC increased its position in Regeneron Pharmaceuticals by 261.8% during the fourth quarter. Brighton Jones LLC now owns 948 shares of the biopharmaceutical company's stock worth $675,000 after buying an additional 686 shares in the last quarter. American Assets Inc. purchased a new position in Regeneron Pharmaceuticals during the fourth quarter worth $427,000. Lido Advisors LLC increased its position in Regeneron Pharmaceuticals by 9.5% during the fourth quarter. Lido Advisors LLC now owns 2,314 shares of the biopharmaceutical company's stock worth $1,649,000 after buying an additional 201 shares in the last quarter. Voleon Capital Management LP purchased a new position in Regeneron Pharmaceuticals during the fourth quarter worth $478,000. Finally, Rehmann Capital Advisory Group increased its position in Regeneron Pharmaceuticals by 26.8% during the fourth quarter. Rehmann Capital Advisory Group now owns 682 shares of the biopharmaceutical company's stock worth $487,000 after buying an additional 144 shares in the last quarter. Hedge funds and other institutional investors own 83.31% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Morgan Stanley reissued an "overweight" rating and set a $761.00 price target (up previously from $754.00) on shares of Regeneron Pharmaceuticals in a research report on Friday, August 1st. Guggenheim lifted their price objective on Regeneron Pharmaceuticals from $810.00 to $815.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Argus downgraded Regeneron Pharmaceuticals from a "buy" rating to a "hold" rating in a research report on Monday, June 30th. Redburn Atlantic raised Regeneron Pharmaceuticals to a "strong-buy" rating in a research report on Thursday, August 14th. Finally, Truist Financial lowered their price objective on Regeneron Pharmaceuticals from $940.00 to $812.00 and set a "buy" rating for the company in a research report on Monday, August 11th. Three research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $817.67.

Regeneron Pharmaceuticals Stock Down 2.4%

Shares of NASDAQ REGN traded down $14.12 on Wednesday, hitting $563.78. The company had a trading volume of 673,343 shares, compared to its average volume of 1,100,310. Regeneron Pharmaceuticals, Inc. has a 12-month low of $476.49 and a 12-month high of $1,182.31. The business has a 50 day moving average of $559.74 and a two-hundred day moving average of $586.24. The company has a quick ratio of 3.72, a current ratio of 4.60 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $59.75 billion, a P/E ratio of 14.21, a PEG ratio of 1.93 and a beta of 0.35.

Regeneron Pharmaceuticals (NASDAQ:REGN - Get Free Report) last issued its earnings results on Friday, August 1st. The biopharmaceutical company reported $12.89 earnings per share for the quarter, topping the consensus estimate of $8.43 by $4.46. Regeneron Pharmaceuticals had a return on equity of 15.06% and a net margin of 31.37%.The company had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $3.30 billion. During the same quarter in the prior year, the business earned $11.56 earnings per share. The company's revenue was up 3.6% compared to the same quarter last year. As a group, equities research analysts forecast that Regeneron Pharmaceuticals, Inc. will post 35.92 earnings per share for the current fiscal year.

Regeneron Pharmaceuticals Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 3rd. Investors of record on Monday, August 18th will be issued a $0.88 dividend. The ex-dividend date of this dividend is Monday, August 18th. This represents a $3.52 dividend on an annualized basis and a yield of 0.6%. Regeneron Pharmaceuticals's dividend payout ratio is currently 8.87%.

About Regeneron Pharmaceuticals

Regeneron Pharmaceuticals, Inc discovers, invents, develops, manufactures, and commercializes medicines for treating various diseases worldwide. The company's products include EYLEA injection to treat wet age-related macular degeneration and diabetic macular edema; myopic choroidal neovascularization; diabetic retinopathy; neovascular glaucoma; and retinopathy of prematurity.