Citigroup Inc. Acquires 180,127 Shares of Sanofi (NASDAQ:SNY)

Key Points

• Citigroup Inc. increased its stake in Sanofi by 31.3%, acquiring an additional 180,127 shares in the first quarter, bringing its total holdings to 756,253 shares valued at approximately $41.94 million.
• Several other major institutional investors, including Bank of America and Price T Rowe Associates, have also increased their shares in Sanofi, indicating growing investor interest in the company.
• Sanofi reported a net margin of 21.47% and earnings per share of $0.90 for the last quarter, falling short of analysts' estimates by $0.06 despite revenue exceeding expectations at $11.34 billion.

Citigroup Inc. raised its position in shares of Sanofi (NASDAQ:SNY - Free Report) by 31.3% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 756,253 shares of the company's stock after purchasing an additional 180,127 shares during the quarter. Citigroup Inc.'s holdings in Sanofi were worth $41,942,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Accent Capital Management LLC purchased a new position in shares of Sanofi during the 1st quarter valued at about $29,000. Eastern Bank lifted its position in shares of Sanofi by 121.0% during the 1st quarter. Eastern Bank now owns 548 shares of the company's stock valued at $30,000 after buying an additional 300 shares in the last quarter. Golden State Wealth Management LLC lifted its holdings in Sanofi by 619.3% in the 1st quarter. Golden State Wealth Management LLC now owns 633 shares of the company's stock worth $35,000 after purchasing an additional 545 shares in the last quarter. Bessemer Group Inc. lifted its holdings in Sanofi by 59.8% in the 4th quarter. Bessemer Group Inc. now owns 647 shares of the company's stock worth $32,000 after purchasing an additional 242 shares in the last quarter. Finally, Brentview Investment Management LLC purchased a new position in Sanofi in the 1st quarter worth approximately $42,000. 14.04% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on SNY. Morgan Stanley set a $56.00 price target on Sanofi in a report on Monday, June 2nd. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating on shares of Sanofi in a report on Tuesday, August 5th. JPMorgan Chase & Co. raised Sanofi from a "neutral" rating to an "overweight" rating in a report on Friday. Hsbc Global Res raised Sanofi to a "strong-buy" rating in a report on Monday, April 28th. Finally, Guggenheim reaffirmed a "buy" rating on shares of Sanofi in a report on Tuesday, June 3rd. Two analysts have rated the stock with a hold rating, five have issued a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $62.00.

Sanofi Trading Up 1.8%

Shares of NASDAQ SNY traded up $0.84 during trading hours on Tuesday, hitting $48.05. 1,925,749 shares of the company traded hands, compared to its average volume of 2,580,255. The stock has a market capitalization of $117.99 billion, a price-to-earnings ratio of 11.55, a price-to-earnings-growth ratio of 1.13 and a beta of 0.48. The company has a current ratio of 1.27, a quick ratio of 0.94 and a debt-to-equity ratio of 0.19. The company's 50 day moving average price is $48.61 and its 200 day moving average price is $51.91. Sanofi has a 12 month low of $44.73 and a 12 month high of $60.12.

Sanofi (NASDAQ:SNY - Get Free Report) last released its earnings results on Thursday, July 31st. The company reported $0.90 earnings per share for the quarter, missing the consensus estimate of $0.96 by ($0.06). The company had revenue of $11.34 billion for the quarter, compared to the consensus estimate of $9.91 billion. Sanofi had a net margin of 21.47% and a return on equity of 16.86%. The business's revenue for the quarter was down 7.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.73 EPS. On average, equities research analysts anticipate that Sanofi will post 4.36 earnings per share for the current fiscal year.

Sanofi Profile

Sanofi, a healthcare company, engages in the research, development, manufacture, and marketing of therapeutic solutions in the United States, Europe, Canada, and internationally. It operates through Pharmaceuticals, Vaccines, and Consumer Healthcare segments. The company provides specialty care, such as DUPIXENT, neurology and immunology, rare diseases, oncology, and rare blood disorders; medicines for diabetes and cardiovascular diseases; and established prescription products.