Forum Financial Management LP Trims Holdings in Sanofi $SNY

Forum Financial Management LP trimmed its holdings in shares of Sanofi (NASDAQ:SNY - Free Report) by 14.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 57,029 shares of the company's stock after selling 9,298 shares during the quarter. Forum Financial Management LP's holdings in Sanofi were worth $2,755,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Accent Capital Management LLC purchased a new position in Sanofi during the first quarter worth about $29,000. Eastern Bank grew its position in Sanofi by 121.0% during the first quarter. Eastern Bank now owns 548 shares of the company's stock worth $30,000 after buying an additional 300 shares in the last quarter. Ameritas Advisory Services LLC purchased a new position in Sanofi during the second quarter worth about $28,000. Golden State Wealth Management LLC grew its position in Sanofi by 619.3% during the first quarter. Golden State Wealth Management LLC now owns 633 shares of the company's stock worth $35,000 after buying an additional 545 shares in the last quarter. Finally, Banque Transatlantique SA purchased a new position in Sanofi during the first quarter worth about $33,000. 14.04% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on SNY shares. Deutsche Bank Aktiengesellschaft upgraded Sanofi from a "hold" rating to a "buy" rating in a report on Tuesday, September 2nd. Weiss Ratings reiterated a "hold (c)" rating on shares of Sanofi in a report on Wednesday, October 8th. Morgan Stanley upgraded Sanofi from an "equal weight" rating to an "overweight" rating and upped their price objective for the stock from $56.00 to $58.00 in a report on Monday, September 8th. Barclays reiterated an "overweight" rating on shares of Sanofi in a report on Wednesday, July 2nd. Finally, JPMorgan Chase & Co. upgraded Sanofi from a "neutral" rating to an "overweight" rating in a report on Friday, August 8th. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Sanofi presently has a consensus rating of "Buy" and an average target price of $62.67.

Sanofi Trading Up 0.7%

Shares of SNY stock opened at $49.99 on Thursday. The stock has a market capitalization of $122.75 billion, a PE ratio of 12.02, a P/E/G ratio of 1.20 and a beta of 0.51. Sanofi has a 1-year low of $44.62 and a 1-year high of $60.12. The business has a 50-day moving average of $48.60 and a 200 day moving average of $49.55. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.27 and a quick ratio of 0.94.

Sanofi (NASDAQ:SNY - Get Free Report) last issued 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 analysts' expectations of $9.91 billion. Sanofi had a net margin of 21.47% and a return on equity of 16.86%. The company's revenue was down 7.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.73 earnings per share. As a group, sell-side analysts anticipate that Sanofi will post 4.36 earnings per share for the current 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.

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