CIBC Asset Management Inc Acquires 10,329 Shares of Regeneron Pharmaceuticals, Inc. $REGN

Key Points

• CIBC Asset Management increased its stake in Regeneron Pharmaceuticals by 31.9% in the fourth quarter, buying 10,329 additional shares and bringing its total holding to 42,667 shares worth about $32.9 million.
• Regeneron reported better-than-expected quarterly results, with EPS of $9.47 versus estimates of $8.91 and revenue of $3.61 billion versus $3.48 billion expected. Revenue rose 19% year over year.
• The stock has drawn mixed analyst views, with several firms cutting price targets, but the overall consensus remains a Moderate Buy with an average price target of $792.65.

CIBC Asset Management Inc grew its position in shares of Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN - Free Report) by 31.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,667 shares of the biopharmaceutical company's stock after purchasing an additional 10,329 shares during the period. CIBC Asset Management Inc's holdings in Regeneron Pharmaceuticals were worth $32,933,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. TD Private Client Wealth LLC grew its position in shares of Regeneron Pharmaceuticals by 9.7% during the 4th quarter. TD Private Client Wealth LLC now owns 169 shares of the biopharmaceutical company's stock valued at $130,000 after purchasing an additional 15 shares in the last quarter. CYBER HORNET ETFs LLC grew its position in shares of Regeneron Pharmaceuticals by 6.0% during the 4th quarter. CYBER HORNET ETFs LLC now owns 301 shares of the biopharmaceutical company's stock valued at $232,000 after purchasing an additional 17 shares in the last quarter. Meyer Handelman Co. grew its position in shares of Regeneron Pharmaceuticals by 0.6% during the 4th quarter. Meyer Handelman Co. now owns 2,878 shares of the biopharmaceutical company's stock valued at $2,221,000 after purchasing an additional 18 shares in the last quarter. Gateway Investment Advisers LLC grew its position in shares of Regeneron Pharmaceuticals by 4.3% during the 4th quarter. Gateway Investment Advisers LLC now owns 464 shares of the biopharmaceutical company's stock valued at $358,000 after purchasing an additional 19 shares in the last quarter. Finally, MGO One Seven LLC grew its position in shares of Regeneron Pharmaceuticals by 3.3% during the 4th quarter. MGO One Seven LLC now owns 589 shares of the biopharmaceutical company's stock valued at $455,000 after purchasing an additional 19 shares in the last quarter. 83.31% of the stock is currently owned by hedge funds and other institutional investors.

Regeneron Pharmaceuticals Stock Up 2.7%

Shares of NASDAQ:REGN opened at $618.95 on Thursday. Regeneron Pharmaceuticals, Inc. has a 52-week low of $476.49 and a 52-week high of $821.11. The firm has a fifty day moving average of $711.47 and a 200 day moving average of $743.37. 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 company has a debt-to-equity ratio of 0.06, a quick ratio of 2.96 and a current ratio of 3.57.

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

Regeneron Pharmaceuticals Dividend Announcement

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

Analyst Upgrades and Downgrades

REGN has been the subject of a number of recent analyst reports. Truist Financial reduced 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 report on Monday, May 18th. Weiss Ratings restated a "hold (c)" rating on shares of Regeneron Pharmaceuticals in a research report on Friday, March 27th. Canaccord Genuity Group reduced their price target on shares of Regeneron Pharmaceuticals from $1,057.00 to $875.00 and set a "buy" rating for the company in a research report on Tuesday, May 19th. Citigroup lowered shares of Regeneron Pharmaceuticals from a "buy" rating to a "neutral" rating and reduced their price target for the company from $900.00 to $700.00 in a research report on Monday, May 18th. Finally, TD Cowen boosted their price target on shares of Regeneron Pharmaceuticals from $880.00 to $960.00 and gave the company a "buy" rating in a research report on Thursday, April 23rd. Two investment 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 company. According to data from MarketBeat.com, Regeneron Pharmaceuticals currently has a consensus rating of "Moderate Buy" and a consensus price target of $792.65.

Insider Transactions at Regeneron Pharmaceuticals

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

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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