iA Global Asset Management Inc. Purchases 7,586 Shares of Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN)

Key Points

• iA Global Asset Management Inc. increased its stake in Regeneron Pharmaceuticals by 65.1%, now owning 19,234 shares valued at approximately $12.20 million.
• Regeneron reported $12.89 EPS for its most recent quarter, exceeding the consensus estimate of $8.43, along with a 3.6% year-over-year revenue growth.
• The company announced a quarterly dividend of $0.88 per share, representing an annualized yield of 0.6% and a dividend payout ratio of 8.87%.

iA Global Asset Management Inc. increased its stake in shares of Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN - Free Report) by 65.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,234 shares of the biopharmaceutical company's stock after buying an additional 7,586 shares during the quarter. iA Global Asset Management Inc.'s holdings in Regeneron Pharmaceuticals were worth $12,199,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the company. ABC Arbitrage SA grew its holdings in Regeneron Pharmaceuticals by 18.4% during the first quarter. ABC Arbitrage SA now owns 2,511 shares of the biopharmaceutical company's stock valued at $1,593,000 after purchasing an additional 391 shares during the period. American Assets Inc. boosted its stake in Regeneron Pharmaceuticals by 200.0% during the first quarter. American Assets Inc. now owns 1,800 shares of the biopharmaceutical company's stock valued at $1,142,000 after buying an additional 1,200 shares during the period. LCM Capital Management Inc raised its stake in Regeneron Pharmaceuticals by 5.5% in the first quarter. LCM Capital Management Inc now owns 575 shares of the biopharmaceutical company's stock valued at $365,000 after purchasing an additional 30 shares in the last quarter. Costello Asset Management INC bought a new position in Regeneron Pharmaceuticals in the first quarter valued at $27,000. Finally, American Assets Investment Management LLC bought a new stake in Regeneron Pharmaceuticals in the 1st quarter worth approximately $1,903,000. 83.31% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on REGN. Cantor Fitzgerald initiated coverage on Regeneron Pharmaceuticals in a research note on Tuesday, April 22nd. They issued an "overweight" rating and a $695.00 price target on the stock. Bank of America decreased their price objective on Regeneron Pharmaceuticals from $575.00 to $547.00 and set an "underperform" rating for the company in a report on Thursday, April 17th. The Goldman Sachs Group reduced their price objective on Regeneron Pharmaceuticals from $917.00 to $804.00 and set a "buy" rating for the company in a report on Wednesday, April 30th. Argus cut shares of Regeneron Pharmaceuticals from a "buy" rating to a "hold" rating in a research note on Monday, June 30th. Finally, Canaccord Genuity Group restated a "buy" rating and set a $850.00 price objective on shares of Regeneron Pharmaceuticals in a research report on Wednesday, July 23rd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Regeneron Pharmaceuticals currently has an average rating of "Moderate Buy" and a consensus price target of $841.30.

Regeneron Pharmaceuticals Price Performance

Shares of REGN traded up $4.67 on Thursday, reaching $559.80. The stock had a trading volume of 811,220 shares, compared to its average volume of 970,308. The company has a quick ratio of 4.73, a current ratio of 4.60 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $60.44 billion, a PE ratio of 14.11, a PEG ratio of 1.91 and a beta of 0.33. Regeneron Pharmaceuticals, Inc. has a twelve month low of $476.49 and a twelve month high of $1,211.20. The firm has a 50-day moving average of $535.40 and a 200 day moving average of $600.61.

Regeneron Pharmaceuticals (NASDAQ:REGN - Get Free Report) last issued its quarterly earnings results on Friday, August 1st. The biopharmaceutical company reported $12.89 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $8.43 by $4.46. The firm had revenue of $3,675,600 billion for the quarter, compared to analyst estimates of $3.30 billion. Regeneron Pharmaceuticals had a return on equity of 15.06% and a net margin of 31.37%. The firm's quarterly revenue was up 3.6% on a year-over-year basis. During the same period last year, the company earned $11.56 EPS. Sell-side analysts expect that Regeneron Pharmaceuticals, Inc. will post 35.92 EPS for the current year.

Regeneron Pharmaceuticals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 3rd. Shareholders of record on Monday, August 18th will be issued a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Monday, August 18th. Regeneron Pharmaceuticals's payout ratio is currently 8.87%.

Regeneron Pharmaceuticals Profile

Regeneron Pharmaceuticals, Inc discovers, invents, develops, manufactures, and commercializes medicines for treating various diseases worldwide. The company's products include EYLEA injection to treat wet age-related macular degeneration and diabetic macular edema; myopic choroidal neovascularization; diabetic retinopathy; neovascular glaucoma; and retinopathy of prematurity.