OLD National Bancorp IN Decreases Stock Position in Sanofi $SNY

OLD National Bancorp IN cut its stake in Sanofi (NASDAQ:SNY - Free Report) by 29.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,541 shares of the company's stock after selling 5,110 shares during the period. OLD National Bancorp IN's holdings in Sanofi were worth $606,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SNY. Nuveen LLC purchased a new position in Sanofi in the first quarter valued at $177,831,000. Federated Hermes Inc. raised its stake in Sanofi by 58.5% in the first quarter. Federated Hermes Inc. now owns 3,947,583 shares of the company's stock valued at $218,933,000 after buying an additional 1,456,269 shares in the last quarter. OLD Mission Capital LLC acquired a new stake in Sanofi in the first quarter valued at $48,938,000. Raymond James Financial Inc. raised its stake in Sanofi by 15.1% in the first quarter. Raymond James Financial Inc. now owns 3,244,027 shares of the company's stock valued at $179,914,000 after buying an additional 425,597 shares in the last quarter. Finally, LPL Financial LLC raised its stake in Sanofi by 18.4% in the first quarter. LPL Financial LLC now owns 1,520,721 shares of the company's stock valued at $84,339,000 after buying an additional 236,625 shares in the last quarter. 14.04% of the stock is currently owned by hedge funds and other institutional investors.

Sanofi Stock Down 1.0%

SNY opened at $49.19 on Wednesday. The business's 50-day simple moving average is $48.19 and its 200-day simple moving average is $49.92. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.94 and a current ratio of 1.27. Sanofi has a one year low of $44.62 and a one year high of $60.12. The stock has a market capitalization of $120.79 billion, a P/E ratio of 11.82, a price-to-earnings-growth ratio of 1.21 and a beta of 0.51.

Sanofi (NASDAQ:SNY - Get Free Report) last posted its earnings results on Thursday, July 31st. The company reported $0.90 EPS 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 firm had revenue of $11.34 billion for the quarter, compared to analyst estimates of $9.91 billion. During the same quarter last year, the firm posted $1.73 EPS. The firm's revenue for the quarter was down 7.0% on a year-over-year basis. Analysts anticipate that Sanofi will post 4.36 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Weiss Ratings restated a "hold (c)" rating on shares of Sanofi in a research note on Saturday, September 27th. Barclays restated an "overweight" rating on shares of Sanofi in a research note on Wednesday, July 2nd. Deutsche Bank Aktiengesellschaft upgraded Sanofi from a "hold" rating to a "buy" rating in a research note on Tuesday, September 2nd. JPMorgan Chase & Co. upgraded Sanofi from a "neutral" rating to an "overweight" rating in a research note on Friday, August 8th. Finally, Wall Street Zen upgraded Sanofi from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Sanofi currently has a consensus rating of "Buy" and an average price target of $62.67.

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.

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