Cibc World Market Inc. Makes New $13.60 Million Investment in Regeneron Pharmaceuticals, Inc. $REGN

Key Points

• Cibc World Market Inc. acquired 21,806 Regeneron shares worth approximately $13.6 million in the second quarter, while institutional investors collectively own 83.31% of the stock.
• Regeneron reported stronger-than-expected quarterly results, with EPS of $14.29 versus the $10.16 consensus and revenue of $4.29 billion, up 16.7% year over year.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $801.70; the company also announced a quarterly dividend of $0.94 per share, a 0.5% yield.

Cibc World Market Inc. bought a new stake in shares of Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 21,806 shares of the biopharmaceutical company's stock, valued at approximately $13,597,000.

Several other hedge funds have also made changes to their positions in the company. Western Wealth Management LLC purchased a new position in shares of Regeneron Pharmaceuticals during the first quarter valued at $26,000. SHP Wealth Management bought a new stake in shares of Regeneron Pharmaceuticals in the fourth quarter valued at about $26,000. Titan Wealth CI Ltd purchased a new stake in Regeneron Pharmaceuticals in the fourth quarter worth about $29,000. Kemnay Advisory Services Inc. purchased a new stake in Regeneron Pharmaceuticals in the fourth quarter worth about $31,000. Finally, Birchwood Financial Partners Inc. bought a new position in Regeneron Pharmaceuticals during the 4th quarter worth about $32,000. 83.31% of the stock is currently owned by hedge funds and other institutional investors.

Regeneron Pharmaceuticals Stock Down 0.7%

NASDAQ:REGN opened at $828.50 on Tuesday. The company's 50-day simple moving average is $701.36 and its 200-day simple moving average is $716.94. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.78 and a current ratio of 3.34. Regeneron Pharmaceuticals, Inc. has a fifty-two week low of $541.00 and a fifty-two week high of $847.00. The stock has a market capitalization of $85.30 billion, a P/E ratio of 20.48, a P/E/G ratio of 1.42 and a beta of 0.22.

Regeneron Pharmaceuticals (NASDAQ:REGN - Get Free Report) last posted its earnings results on Thursday, July 30th. The biopharmaceutical company reported $14.29 EPS for the quarter, beating analysts' consensus estimates of $10.16 by $4.13. The company had revenue of $4.29 billion during the quarter, compared to analysts' expectations of $3.82 billion. Regeneron Pharmaceuticals had a net margin of 27.86% and a return on equity of 13.47%. Regeneron Pharmaceuticals's revenue for the quarter was up 16.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $12.81 earnings per share. On average, equities analysts anticipate 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. Stockholders of record on Tuesday, August 18th will be issued a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Tuesday, August 18th. Regeneron Pharmaceuticals's dividend payout ratio is currently 9.29%.

Insider Transactions at Regeneron Pharmaceuticals

In related news, Director Kathryn Guarini sold 400 shares of the business's 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 transaction, the director directly owned 603 shares in the company, valued at $482,400. The trade was a 39.88% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Huda Y. Zoghbi sold 800 shares of the company's stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $800.00, for a total value of $640,000.00. Following the transaction, the director directly owned 1,703 shares in the company, valued at $1,362,400. This represents a 31.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 1,400 shares of company stock valued at $1,090,030 in the last quarter. 6.97% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

REGN has been the topic of a number of research reports. Sanford C. Bernstein raised shares of Regeneron Pharmaceuticals to a "hold" rating in a research report on Wednesday, July 29th. Cantor Fitzgerald increased their price objective on shares of Regeneron Pharmaceuticals from $750.00 to $795.00 and gave the company an "overweight" rating in a research note on Friday, July 31st. Citigroup increased their price objective on shares of Regeneron Pharmaceuticals from $700.00 to $740.00 and gave the company a "neutral" rating in a research note on Monday, August 3rd. Guggenheim lifted their price objective on shares of Regeneron Pharmaceuticals from $1,000.00 to $1,030.00 and gave the company a "buy" rating in a report on Monday, August 3rd. Finally, Wells Fargo & Company boosted their price objective on shares of Regeneron Pharmaceuticals from $700.00 to $750.00 and gave the stock an "equal weight" rating in a research note on Friday, July 31st. Sixteen research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $801.70.

Regeneron Pharmaceuticals Company 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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