Manhattan West Asset Management LLC Purchases 5,503 Shares of Sanofi (NASDAQ:SNY)

Key Points

• Manhattan West Asset Management LLC increased its stake in Sanofi by 8.2% during the first quarter, holding a total of 72,480 shares valued at approximately $4,020,000.
• Several institutional investors, including Eastern Bank and Bessemer Group Inc., have also significantly raised their positions in Sanofi, reflecting growing interest in the stock.
• Analysts have generally rated Sanofi positively, with a consensus rating of "Buy" and an average target price of $62.00, highlighting the stock's potential for future growth.

Manhattan West Asset Management LLC boosted its holdings in Sanofi (NASDAQ:SNY - Free Report) by 8.2% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 72,480 shares of the company's stock after purchasing an additional 5,503 shares during the quarter. Manhattan West Asset Management LLC's holdings in Sanofi were worth $4,020,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Benjamin Edwards Inc. raised its position in shares of Sanofi by 18.5% in the 1st quarter. Benjamin Edwards Inc. now owns 19,832 shares of the company's stock valued at $1,100,000 after buying an additional 3,092 shares in the last quarter. Koss Olinger Consulting LLC acquired a new position in shares of Sanofi in the 1st quarter valued at approximately $275,000. Townsquare Capital LLC raised its position in shares of Sanofi by 5.7% in the 1st quarter. Townsquare Capital LLC now owns 32,821 shares of the company's stock valued at $1,820,000 after buying an additional 1,760 shares in the last quarter. Zions Bancorporation National Association UT acquired a new position in shares of Sanofi in the 1st quarter valued at approximately $11,499,000. Finally, Citigroup Inc. raised its position in shares of Sanofi by 31.3% in the 1st quarter. Citigroup Inc. now owns 756,253 shares of the company's stock valued at $41,942,000 after buying an additional 180,127 shares in the last quarter. Institutional investors and hedge funds own 14.04% of the company's stock.

Sanofi Trading Down 0.6%

SNY traded down $0.28 during trading on Friday, reaching $47.16. 2,968,334 shares of the company's stock were exchanged, compared to its average volume of 2,515,274. Sanofi has a one year low of $44.73 and a one year high of $60.12. The company has a current ratio of 1.27, a quick ratio of 0.94 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $115.79 billion, a PE ratio of 11.34, a price-to-earnings-growth ratio of 1.13 and a beta of 0.48. The firm has a fifty day moving average price of $48.67 and a two-hundred day moving average price of $51.97.

Sanofi (NASDAQ:SNY - Get Free Report) last posted its earnings results on Thursday, July 31st. The company reported $0.90 earnings per share for the quarter, missing analysts' consensus estimates of $0.96 by ($0.06). Sanofi had a return on equity of 16.86% and a net margin of 21.47%. The business had revenue of $11.34 billion for the quarter, compared to the consensus estimate of $9.91 billion. During the same period in the previous year, the firm earned $1.73 earnings per share. The company's revenue was down 7.0% compared to the same quarter last year. As a group, equities research analysts forecast that Sanofi will post 4.36 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on SNY shares. JPMorgan Chase & Co. upgraded shares of Sanofi from a "neutral" rating to an "overweight" rating in a research report on Friday. Morgan Stanley set a $56.00 price target on shares of Sanofi in a report on Monday, June 2nd. Wall Street Zen raised shares of Sanofi from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Guggenheim reaffirmed a "buy" rating on shares of Sanofi in a report on Tuesday, June 3rd. Finally, Hsbc Global Res raised shares of Sanofi to a "strong-buy" rating in a report on Monday, April 28th. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, Sanofi currently has a consensus rating of "Buy" and a consensus target price of $62.00.

Sanofi Company 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.