Elevation Point Wealth Partners LLC bought a new position in Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 1,241 shares of the biopharmaceutical company's stock, valued at approximately $724,000.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Brighton Jones LLC grew its position in Regeneron Pharmaceuticals by 261.8% in the fourth quarter. Brighton Jones LLC now owns 948 shares of the biopharmaceutical company's stock worth $675,000 after acquiring an additional 686 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Regeneron Pharmaceuticals during the first quarter worth about $226,000. Arrowstreet Capital Limited Partnership bought a new stake in Regeneron Pharmaceuticals during the second quarter worth about $3,183,000. Gabelli Funds LLC boosted its holdings in shares of Regeneron Pharmaceuticals by 3.0% in the 2nd quarter. Gabelli Funds LLC now owns 1,863 shares of the biopharmaceutical company's stock worth $978,000 after purchasing an additional 55 shares in the last quarter. Finally, Sei Investments Co. boosted its holdings in shares of Regeneron Pharmaceuticals by 18.8% in the 2nd quarter. Sei Investments Co. now owns 32,341 shares of the biopharmaceutical company's stock worth $16,985,000 after purchasing an additional 5,120 shares in the last quarter. Institutional investors own 83.31% of the company's stock.
Insiders Place Their Bets
In other news, Director Huda Y. Zoghbi sold 800 shares of the stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $800.00, for a total value of $640,000.00. Following the completion of the transaction, the director owned 1,703 shares of the company's stock, valued at approximately $1,362,400. This represents a 31.96% decrease in their position. 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. Also, Director Arthur F. Ryan sold 200 shares of the firm's stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $650.15, for a total value of $130,030.00. Following the completion of the transaction, the director owned 17,303 shares of the company's stock, valued at approximately $11,249,545.45. The trade was a 1.14% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 1,400 shares of company stock worth $1,090,030. Company insiders own 6.97% of the company's stock.
Wall Street Analyst Weigh In
REGN has been the subject of several research reports. Wells Fargo & Company upped their target price on Regeneron Pharmaceuticals from $700.00 to $750.00 and gave the stock an "equal weight" rating in a research note on Friday, July 31st. BMO Capital Markets lowered their price objective on shares of Regeneron Pharmaceuticals from $900.00 to $730.00 and set an "outperform" rating for the company in a report on Monday, May 18th. Royal Bank Of Canada upped their price objective on shares of Regeneron Pharmaceuticals from $696.00 to $737.00 and gave the company a "sector perform" rating in a research note on Friday, July 31st. Guggenheim lifted their target price on shares of Regeneron Pharmaceuticals from $1,000.00 to $1,030.00 and gave the stock a "buy" rating in a research report on Monday, August 3rd. Finally, Wall Street Zen raised shares of Regeneron Pharmaceuticals from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 15th. Sixteen investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $801.70.
Check Out Our Latest Stock Analysis on REGN
Regeneron Pharmaceuticals Price Performance
REGN stock opened at $828.50 on Tuesday. The stock has a market capitalization of $85.30 billion, a price-to-earnings ratio of 20.48, a PEG ratio of 1.42 and a beta of 0.22. The firm's 50-day moving average price is $701.36 and its two-hundred day moving average price is $716.94. The company has a current ratio of 3.34, a quick ratio of 2.78 and a debt-to-equity ratio of 0.06. Regeneron Pharmaceuticals, Inc. has a 12-month low of $541.00 and a 12-month high of $847.00.
Regeneron Pharmaceuticals (NASDAQ:REGN - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The biopharmaceutical company reported $14.29 EPS for the quarter, topping the consensus estimate of $10.16 by $4.13. The business had revenue of $4.29 billion during the quarter, compared to analyst estimates of $3.82 billion. Regeneron Pharmaceuticals had a net margin of 27.86% and a return on equity of 13.47%. The company's revenue for the quarter was up 16.7% on a year-over-year basis. During the same period in the prior year, the business earned $12.81 EPS. As a group, equities analysts predict that Regeneron Pharmaceuticals, Inc. will post 44.25 earnings per share for the current year.
Regeneron Pharmaceuticals Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Tuesday, August 18th will be given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Tuesday, August 18th. Regeneron Pharmaceuticals's payout ratio is presently 9.29%.
Regeneron Pharmaceuticals Company Profile
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Free Report)
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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