Mirae Asset Global Investments Co. Ltd. Grows Stake in Regeneron Pharmaceuticals, Inc. $REGN

Key Points

• Mirae Asset Global Investments Co. Ltd. increased its stake in Regeneron Pharmaceuticals by 7.7% during the second quarter, bringing its total ownership to 57,166 shares valued at approximately $30 million.
• Regeneron reported an EPS of $12.89 for the last quarter, significantly beating analyst expectations of $8.43, with revenue also exceeding forecasts at $3.68 billion.
• The stock currently has a consensus rating of "Moderate Buy" with an average price target of $817.67 based on recent analyst evaluations.

Mirae Asset Global Investments Co. Ltd. raised its stake in Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN - Free Report) by 7.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 57,166 shares of the biopharmaceutical company's stock after acquiring an additional 4,080 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned approximately 0.05% of Regeneron Pharmaceuticals worth $30,012,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Tower View Wealth Management LLC purchased a new position in Regeneron Pharmaceuticals in the second quarter valued at about $109,000. RK Asset Management LLC boosted its stake in Regeneron Pharmaceuticals by 0.3% in the second quarter. RK Asset Management LLC now owns 12,602 shares of the biopharmaceutical company's stock valued at $6,616,000 after acquiring an additional 39 shares during the last quarter. Hudson Value Partners LLC purchased a new position in Regeneron Pharmaceuticals in the second quarter valued at about $398,000. Marino Stram & Associates LLC boosted its stake in Regeneron Pharmaceuticals by 5.3% in the second quarter. Marino Stram & Associates LLC now owns 396 shares of the biopharmaceutical company's stock valued at $208,000 after acquiring an additional 20 shares during the last quarter. Finally, Generali Investments CEE investicni spolecnost a.s. boosted its stake in Regeneron Pharmaceuticals by 33.1% in the second quarter. Generali Investments CEE investicni spolecnost a.s. now owns 2,170 shares of the biopharmaceutical company's stock valued at $1,139,000 after acquiring an additional 540 shares during the last quarter. 83.31% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on REGN shares. Rothschild & Co Redburn started coverage on shares of Regeneron Pharmaceuticals in a research note on Thursday, August 14th. They set a "buy" rating and a $890.00 price target on the stock. Canaccord Genuity Group restated a "buy" rating and set a $850.00 price target on shares of Regeneron Pharmaceuticals in a research note on Wednesday, July 23rd. Jefferies Financial Group upped their price target on shares of Regeneron Pharmaceuticals from $813.00 to $831.00 and gave the company a "buy" rating in a research note on Wednesday, August 27th. Sanford C. Bernstein upped their price target on shares of Regeneron Pharmaceuticals from $753.00 to $781.00 and gave the company an "outperform" rating in a research note on Wednesday, August 27th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Regeneron Pharmaceuticals from $950.00 to $800.00 and set an "overweight" rating on the stock in a research note on Monday, June 9th. Three research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $817.67.

Regeneron Pharmaceuticals Stock Performance

NASDAQ REGN opened at $600.00 on Friday. Regeneron Pharmaceuticals, Inc. has a 52-week low of $476.49 and a 52-week high of $1,024.36. The company has a fifty day moving average of $572.12 and a 200-day moving average of $567.94. The company has a market capitalization of $63.59 billion, a P/E ratio of 15.12, a P/E/G ratio of 1.92 and a beta of 0.31. The company has a debt-to-equity ratio of 0.09, a quick ratio of 3.72 and a current ratio of 4.60.

Regeneron Pharmaceuticals (NASDAQ:REGN - Get Free Report) last released its earnings results on Friday, August 1st. The biopharmaceutical company reported $12.89 EPS for the quarter, beating analysts' consensus estimates of $8.43 by $4.46. Regeneron Pharmaceuticals had a return on equity of 15.06% and a net margin of 31.37%.The business had revenue of $3.68 billion for the quarter, compared to analysts' expectations of $3.30 billion. During the same quarter in the prior year, the firm earned $11.56 earnings per share. The firm's revenue was up 3.6% on a year-over-year basis. As a group, equities research analysts predict that Regeneron Pharmaceuticals, Inc. will post 35.92 EPS for the current fiscal year.

Regeneron Pharmaceuticals Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 3rd. Shareholders of record on Monday, August 18th were paid a $0.88 dividend. The ex-dividend date of this dividend was Monday, August 18th. This represents a $3.52 annualized dividend and a yield of 0.6%. Regeneron Pharmaceuticals's dividend 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.

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