NewEdge Advisors LLC Trims Stock Position in Sanofi $SNY

Key Points

• NewEdge Advisors cut its Sanofi stake by 40% in the second quarter, selling 31,012 shares and retaining 46,489 shares valued at approximately $1.98 million.
• Analyst sentiment remains mixed, with Sanofi holding a consensus “Hold” rating and an average price target of $49.50; ratings range from Strong Buy to Sell.
• Sanofi reported quarterly revenue of $13.36 billion, up 16% year over year, while earnings fell to $2.41 per share from $3.24 in the prior-year quarter.

NewEdge Advisors LLC trimmed its position in Sanofi (NASDAQ:SNY - Free Report) by 40.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 46,489 shares of the company's stock after selling 31,012 shares during the period. NewEdge Advisors LLC's holdings in Sanofi were worth $1,983,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. IFP Advisors Inc grew its holdings in shares of Sanofi by 416.5% during the 2nd quarter. IFP Advisors Inc now owns 11,853 shares of the company's stock worth $506,000 after purchasing an additional 9,558 shares during the period. Squarepoint Ops LLC boosted its holdings in Sanofi by 7.0% in the second quarter. Squarepoint Ops LLC now owns 121,857 shares of the company's stock valued at $5,198,000 after purchasing an additional 8,000 shares during the last quarter. Baird Financial Group Inc. grew its stake in Sanofi by 1.5% during the 2nd quarter. Baird Financial Group Inc. now owns 143,292 shares of the company's stock valued at $6,113,000 after purchasing an additional 2,182 shares in the last quarter. Allworth Financial LP raised its position in shares of Sanofi by 2.7% in the 2nd quarter. Allworth Financial LP now owns 9,233 shares of the company's stock valued at $394,000 after purchasing an additional 243 shares in the last quarter. Finally, Waverly Advisors LLC grew its position in shares of Sanofi by 17.0% during the second quarter. Waverly Advisors LLC now owns 12,451 shares of the company's stock worth $531,000 after buying an additional 1,811 shares in the last quarter. Institutional investors and hedge funds own 14.03% of the company's stock.

Analysts Set New Price Targets

Several analysts have weighed in on SNY shares. Wall Street Zen upgraded shares of Sanofi from a "hold" rating to a "buy" rating in a research note on Saturday, August 29th. Morgan Stanley set a $49.00 target price on shares of Sanofi in a report on Wednesday, July 8th. HSBC reiterated a "buy" rating on shares of Sanofi in a research report on Thursday, September 10th. Weiss Ratings lowered Sanofi from a "hold (c-)" rating to a "sell (d)" rating in a research report on Monday, August 3rd. Finally, Royal Bank Of Canada started coverage on shares of Sanofi in a report on Tuesday, September 8th. They issued a "sector perform" rating on the stock. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $49.50.

Sanofi Stock Performance

Shares of SNY opened at $42.48 on Friday. The firm has a market cap of $102.99 billion, a price-to-earnings ratio of 22.24, a price-to-earnings-growth ratio of 1.30 and a beta of 0.35. The company's fifty day moving average is $43.92 and its 200-day moving average is $44.41. The company has a quick ratio of 0.64, a current ratio of 0.99 and a debt-to-equity ratio of 0.21. Sanofi has a 12 month low of $40.89 and a 12 month high of $52.68.

Sanofi (NASDAQ:SNY - Get Free Report) last announced its earnings results on Thursday, July 30th. The company reported $2.41 EPS for the quarter. Sanofi had a net margin of 8.66% and a return on equity of 14.19%. The firm had revenue of $13.36 billion for the quarter. During the same quarter last year, the business earned $3.24 EPS. The business's revenue was up 16.0% compared to the same quarter last year. Equities analysts expect that Sanofi will post 5.07 EPS for the current fiscal year.

Sanofi Company Profile

Sanofi is a global healthcare company headquartered in France that develops, manufactures and markets prescription medicines and vaccines. Its portfolio serves patients across areas including immunology, rare diseases, rare blood disorders, neurology, oncology and inflammatory conditions, as well as other specialty-care and general-medicine categories.

The company is also a major vaccine producer through its vaccines business, which supplies products for diseases such as influenza, polio, pertussis, meningitis and dengue.

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