Federated Hermes Inc. Increases Stock Holdings in Sanofi (NASDAQ:SNY)

Key Points

• Federated Hermes Inc. has increased its stake in Sanofi by 58.5%, acquiring a total of 3,947,583 shares worth approximately $218.9 million.
• Other institutional investors, including Price T Rowe Associates and Point72 Asset Management, have also significantly increased their holdings in Sanofi during the fourth quarter.
• Sanofi's stock is currently down 1.8%, with a market cap of $121.35 billion and a consensus price target of $62.00 from analysts.

Federated Hermes Inc. boosted its position in Sanofi (NASDAQ:SNY - Free Report) by 58.5% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,947,583 shares of the company's stock after purchasing an additional 1,456,269 shares during the quarter. Federated Hermes Inc. owned about 0.16% of Sanofi worth $218,933,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Cardinal Capital Management grew its holdings in shares of Sanofi by 0.3% during the 1st quarter. Cardinal Capital Management now owns 69,004 shares of the company's stock worth $3,827,000 after purchasing an additional 199 shares during the period. Gradient Investments LLC boosted its holdings in Sanofi by 2.1% during the 1st quarter. Gradient Investments LLC now owns 9,764 shares of the company's stock valued at $542,000 after acquiring an additional 200 shares during the period. Perigon Wealth Management LLC boosted its holdings in Sanofi by 3.1% during the 1st quarter. Perigon Wealth Management LLC now owns 6,618 shares of the company's stock valued at $367,000 after acquiring an additional 201 shares during the period. Beacon Financial Group boosted its holdings in Sanofi by 1.6% during the 1st quarter. Beacon Financial Group now owns 14,398 shares of the company's stock valued at $799,000 after acquiring an additional 222 shares during the period. Finally, AdvisorNet Financial Inc boosted its holdings in Sanofi by 16.4% during the 1st quarter. AdvisorNet Financial Inc now owns 1,613 shares of the company's stock valued at $89,000 after acquiring an additional 227 shares during the period. 14.04% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

SNY has been the subject of a number of research analyst reports. BNP Paribas initiated coverage on Sanofi in a report on Tuesday, April 15th. They set an "outperform" rating and a $65.00 target price for the company. Barclays reiterated an "overweight" rating on shares of Sanofi in a research note on Wednesday, July 2nd. Hsbc Global Res upgraded Sanofi to a "strong-buy" rating in a research note on Monday, April 28th. Guggenheim reiterated a "buy" rating on shares of Sanofi in a research note on Tuesday, June 3rd. Finally, Morgan Stanley set a $56.00 price objective on Sanofi in a research note on Monday, June 2nd. Three investment analysts have rated the stock with a hold rating, three have issued a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Buy" and an average price target of $62.00.

Sanofi Stock Performance

SNY traded up $1.01 during trading on Friday, hitting $46.65. 1,695,960 shares of the stock were exchanged, compared to its average volume of 2,565,115. The firm has a market capitalization of $114.40 billion, a P/E ratio of 16.68, a PEG ratio of 1.12 and a beta of 0.48. Sanofi has a 1-year low of $44.73 and a 1-year high of $60.12. The stock has a fifty day moving average price of $49.21 and a two-hundred day moving average price of $52.09. The company has a quick ratio of 0.69, a current ratio of 1.37 and a debt-to-equity ratio of 0.16.

About Sanofi

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.