Northern Trust Corp Purchases 124,230 Shares of Sanofi $SNY

Key Points

• Northern Trust Corp increased its stake in Sanofi by 6.4%, owning 2,054,790 shares worth approximately $113.96 million.
• Sanofi reported $0.90 earnings per share for the last quarter, missing analysts' expectations; however, its revenue of $11.34 billion exceeded projections of $9.91 billion.
• Analysts have a generally favorable outlook on Sanofi, with a consensus target price of $62.00 and three analysts rating the stock as a strong buy.

Northern Trust Corp raised its holdings in shares of Sanofi (NASDAQ:SNY - Free Report) by 6.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,054,790 shares of the company's stock after purchasing an additional 124,230 shares during the period. Northern Trust Corp owned 0.08% of Sanofi worth $113,959,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Sanofi by 124.0% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 24,131 shares of the company's stock worth $1,344,000 after buying an additional 13,358 shares during the period. Axxcess Wealth Management LLC lifted its holdings in Sanofi by 130.5% in the 1st quarter. Axxcess Wealth Management LLC now owns 10,234 shares of the company's stock worth $568,000 after buying an additional 5,794 shares during the period. Ballentine Partners LLC lifted its holdings in Sanofi by 68.7% in the 1st quarter. Ballentine Partners LLC now owns 26,063 shares of the company's stock worth $1,445,000 after buying an additional 10,617 shares during the period. Sowell Financial Services LLC purchased a new stake in Sanofi in the 1st quarter worth approximately $328,000. Finally, Farther Finance Advisors LLC lifted its holdings in Sanofi by 66.2% in the 1st quarter. Farther Finance Advisors LLC now owns 6,215 shares of the company's stock worth $338,000 after buying an additional 2,476 shares during the period. Hedge funds and other institutional investors own 14.04% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Barclays reiterated an "overweight" rating on shares of Sanofi in a report on Wednesday, July 2nd. JPMorgan Chase & Co. upgraded shares of Sanofi from a "neutral" rating to an "overweight" rating in a report on Friday, August 8th. Guggenheim restated a "buy" rating on shares of Sanofi in a report on Tuesday, June 3rd. Morgan Stanley set a $56.00 price objective on shares of Sanofi in a report on Monday, June 2nd. Finally, Deutsche Bank Aktiengesellschaft restated a "hold" rating on shares of Sanofi in a report on Tuesday, August 5th. Three research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $62.00.

Sanofi Stock Down 0.9%

Shares of SNY stock traded down $0.46 during trading hours on Friday, hitting $49.48. 2,437,389 shares of the company's stock traded hands, compared to its average volume of 2,321,432. The stock's fifty day simple moving average is $48.81 and its two-hundred day simple moving average is $51.61. Sanofi has a 12-month low of $44.73 and a 12-month high of $60.12. The stock has a market cap of $121.50 billion, a price-to-earnings ratio of 11.89, a PEG ratio of 1.19 and a beta of 0.48. The company has a quick ratio of 0.94, a current ratio of 1.27 and a debt-to-equity ratio of 0.19.

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

About Sanofi

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.