Sanofi $SNY Shares Sold by Contravisory Investment Management Inc.

Key Points

• Contravisory Investment Management Inc. reduced its stake in Sanofi by 84.2% during the 2nd quarter, leaving the firm with 2,675 shares valued at $129,000.
• Several institutional investors, including Eastern Bank and Golden State Wealth Management LLC, have significantly increased their holdings in Sanofi during the 1st quarter, reflecting a growing interest in the stock.
• Sanofi reported earnings per share of $0.90 for Q2, missing analysts' expectations, while its revenue of $11.34 billion surpassed projections, although this reflects a 7.0% decrease from the same period last year.

Contravisory Investment Management Inc. reduced its holdings in Sanofi (NASDAQ:SNY - Free Report) by 84.2% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,675 shares of the company's stock after selling 14,285 shares during the period. Contravisory Investment Management Inc.'s holdings in Sanofi were worth $129,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in SNY. Accent Capital Management LLC purchased a new position in shares of Sanofi in the 1st quarter worth $29,000. Eastern Bank boosted its stake in shares of Sanofi by 121.0% during the 1st quarter. Eastern Bank now owns 548 shares of the company's stock worth $30,000 after purchasing an additional 300 shares during the period. Banque Transatlantique SA purchased a new position in shares of Sanofi during the 1st quarter worth about $33,000. Golden State Wealth Management LLC boosted its stake in shares of Sanofi by 619.3% during 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 during the period. Finally, Brentview Investment Management LLC purchased a new position in shares of Sanofi during the 1st quarter worth about $42,000. 14.04% of the stock is owned by hedge funds and other institutional investors.

Sanofi Stock Down 0.1%

Shares of SNY traded down $0.04 during mid-day trading on Friday, hitting $47.64. The company's stock had a trading volume of 4,317,340 shares, compared to its average volume of 2,720,287. The company's 50-day moving average is $48.49 and its 200-day moving average is $50.87. Sanofi has a 52-week low of $44.73 and a 52-week high of $60.12. The firm has a market capitalization of $116.98 billion, a price-to-earnings ratio of 11.45, a PEG ratio of 1.12 and a beta of 0.51. The company has a current ratio of 1.27, a quick ratio of 0.94 and a debt-to-equity ratio of 0.19.

Sanofi (NASDAQ:SNY - Get Free Report) last announced its quarterly 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 business had revenue of $11.34 billion during the quarter, compared to analysts' expectations of $9.91 billion. Sanofi had a return on equity of 16.86% and a net margin of 21.47%.Sanofi's revenue for the quarter was down 7.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.73 EPS. On average, equities research analysts forecast that Sanofi will post 4.36 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. JPMorgan Chase & Co. raised shares of Sanofi from a "neutral" rating to an "overweight" rating in a research note on Friday, August 8th. Wall Street Zen raised shares of Sanofi from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Guggenheim reaffirmed a "buy" rating on shares of Sanofi in a research note on Tuesday, June 3rd. Barclays reissued an "overweight" rating on shares of Sanofi in a research report on Wednesday, July 2nd. Finally, Deutsche Bank Aktiengesellschaft raised shares of Sanofi from a "hold" rating to a "buy" rating in a research report on Tuesday, September 2nd. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $62.67.

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.