Meritage Portfolio Management Acquires Shares of 11,455 Regeneron Pharmaceuticals, Inc. $REGN

Key Points

• Meritage Portfolio Management acquired 11,455 shares of Regeneron Pharmaceuticals, Inc. valued at approximately $6 million during the second quarter.
• Regeneron's stock has a current price of $564.63, and the company has reported a strong financial performance with earnings of $12.89 per share, exceeding expectations.
• The firm also declared a dividend of $0.88 per share, reflecting an annualized dividend yield of 0.6%.

Meritage Portfolio Management acquired a new stake in shares of Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 11,455 shares of the biopharmaceutical company's stock, valued at approximately $6,014,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in REGN. Brighton Jones LLC lifted its holdings in Regeneron Pharmaceuticals by 261.8% during the fourth quarter. Brighton Jones LLC now owns 948 shares of the biopharmaceutical company's stock valued at $675,000 after purchasing an additional 686 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in Regeneron Pharmaceuticals by 9.6% during the first quarter. Farther Finance Advisors LLC now owns 628 shares of the biopharmaceutical company's stock valued at $387,000 after purchasing an additional 55 shares in the last quarter. Harbor Capital Advisors Inc. purchased a new position in Regeneron Pharmaceuticals during the first quarter valued at $981,000. GAMMA Investing LLC lifted its stake in shares of Regeneron Pharmaceuticals by 41.8% in the first quarter. GAMMA Investing LLC now owns 1,286 shares of the biopharmaceutical company's stock worth $816,000 after buying an additional 379 shares in the last quarter. Finally, Simplicity Wealth LLC purchased a new position in shares of Regeneron Pharmaceuticals in the first quarter worth about $210,000. 83.31% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. UBS Group reissued a "neutral" rating on shares of Regeneron Pharmaceuticals in a research note on Friday, August 1st. Redburn Atlantic raised shares of Regeneron Pharmaceuticals to a "strong-buy" rating in a research note on Thursday, August 14th. Jefferies Financial Group raised their price target on shares of Regeneron Pharmaceuticals from $813.00 to $831.00 and gave the stock a "buy" rating in a research note on Wednesday, August 27th. Weiss Ratings reissued a "hold (c-)" rating on shares of Regeneron Pharmaceuticals in a research note on Wednesday. Finally, Wells Fargo & Company downgraded shares of Regeneron Pharmaceuticals from an "overweight" rating to an "equal weight" rating and set a $580.00 price target on the stock. in a research note on Friday, August 1st. Three research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $817.46.

Regeneron Pharmaceuticals Price Performance

Regeneron Pharmaceuticals stock opened at $564.63 on Friday. Regeneron Pharmaceuticals, Inc. has a 12-month low of $476.49 and a 12-month high of $1,024.36. The stock has a market cap of $59.84 billion, a P/E ratio of 14.23, a PEG ratio of 1.80 and a beta of 0.31. The company has a 50-day moving average price of $573.95 and a 200 day moving average price of $564.51. The company has a current ratio of 4.60, a quick ratio of 3.72 and a debt-to-equity ratio of 0.09.

Regeneron Pharmaceuticals (NASDAQ:REGN - Get Free Report) last released its quarterly earnings data on Friday, August 1st. The biopharmaceutical company reported $12.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.43 by $4.46. Regeneron Pharmaceuticals had a net margin of 31.37% and a return on equity of 15.06%. The firm had revenue of $3.68 billion during the quarter, compared to analysts' expectations of $3.30 billion. During the same period last year, the business earned $11.56 earnings per share. Regeneron Pharmaceuticals's revenue was up 3.6% compared to the same quarter last year. Sell-side analysts anticipate that Regeneron Pharmaceuticals, Inc. will post 35.92 earnings per share for the current year.

Regeneron Pharmaceuticals Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 3rd. Shareholders of record on Monday, August 18th were given a dividend of $0.88 per share. The ex-dividend date was Monday, August 18th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 0.6%. Regeneron Pharmaceuticals's dividend payout ratio (DPR) is currently 8.87%.

Regeneron Pharmaceuticals Company 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.

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