HB Wealth Management LLC Purchases 17,741 Shares of Sanofi (NASDAQ:SNY)

Key Points

• HB Wealth Management LLC increased its stake in Sanofi by 114.5% in the first quarter, now owning 33,237 shares valued at approximately $1.84 million.
• Several institutional investors, including Brighton Jones LLC and Orion Portfolio Solutions LLC, also boosted their stakes in Sanofi during the fourth quarter, reflecting growing interest in the company.
• Wall Street analysts have a consensus rating of "Buy" for Sanofi, with a target price averaging around $62.00, indicating a positive outlook for the stock.

HB Wealth Management LLC raised its position in Sanofi (NASDAQ:SNY - Free Report) by 114.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 33,237 shares of the company's stock after acquiring an additional 17,741 shares during the period. HB Wealth Management LLC's holdings in Sanofi were worth $1,843,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Cardinal Capital Management lifted its stake in Sanofi by 0.3% during the first 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 stake in Sanofi by 2.1% in the 1st quarter. Gradient Investments LLC now owns 9,764 shares of the company's stock valued at $542,000 after buying an additional 200 shares in the last quarter. Perigon Wealth Management LLC raised its stake in Sanofi by 3.1% during the first quarter. Perigon Wealth Management LLC now owns 6,618 shares of the company's stock worth $367,000 after acquiring an additional 201 shares in the last quarter. Beacon Financial Group lifted its holdings in shares of Sanofi by 1.6% during the first 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 lifted its holdings in shares of Sanofi by 16.4% during the first 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. Institutional investors own 14.04% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Barclays reiterated an "overweight" rating on shares of Sanofi in a research report on Wednesday, July 2nd. Hsbc Global Res raised Sanofi to a "strong-buy" rating in a research report on Monday, April 28th. Guggenheim reaffirmed a "buy" rating on shares of Sanofi in a research report on Tuesday, June 3rd. BNP Paribas assumed coverage on Sanofi in a research report on Tuesday, April 15th. They set an "outperform" rating and a $65.00 price target on the stock. Finally, Morgan Stanley set a $56.00 target price on shares of Sanofi in a report on Monday, June 2nd. Three investment analysts have rated the stock with a hold rating, three have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $62.00.

Sanofi Trading Up 1.6%

SNY traded up $0.73 during trading on Friday, reaching $46.37. 1,216,599 shares of the stock traded hands, compared to its average volume of 2,561,767. Sanofi has a 12 month low of $44.73 and a 12 month high of $60.12. The company has a quick ratio of 0.69, a current ratio of 1.37 and a debt-to-equity ratio of 0.16. The stock's 50-day moving average is $49.21 and its 200 day moving average is $52.09. The stock has a market capitalization of $113.72 billion, a PE ratio of 16.57, a P/E/G ratio of 1.12 and a beta of 0.48.

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.