Oppenheimer Asset Management Inc. Grows Stake in Sanofi (NASDAQ:SNY)

Oppenheimer Asset Management Inc. increased its position in shares of Sanofi (NASDAQ:SNY - Free Report) by 22.5% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 155,380 shares of the company's stock after buying an additional 28,569 shares during the quarter. Oppenheimer Asset Management Inc.'s holdings in Sanofi were worth $8,617,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in SNY. Cambridge Investment Research Advisors Inc. increased its position in shares of Sanofi by 1.0% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 33,328 shares of the company's stock worth $1,848,000 after purchasing an additional 318 shares during the last quarter. Altrius Capital Management Inc raised its stake in shares of Sanofi by 1.0% in the 1st quarter. Altrius Capital Management Inc now owns 163,593 shares of the company's stock valued at $9,073,000 after acquiring an additional 1,653 shares during the period. Perfromance Wealth Partners LLC acquired a new position in shares of Sanofi in the 1st quarter worth approximately $222,000. Meriwether Wealth & Planning LLC boosted its position in shares of Sanofi by 16.6% during the 1st quarter. Meriwether Wealth & Planning LLC now owns 14,189 shares of the company's stock worth $787,000 after purchasing an additional 2,017 shares during the period. Finally, Good Steward Wealth Advisors LLC acquired a new stake in Sanofi in the 1st quarter valued at approximately $503,000. Hedge funds and other institutional investors own 14.04% of the company's stock.

Analyst Ratings Changes

A number of research analysts have commented on the company. BNP Paribas assumed coverage on Sanofi in a research note on Tuesday, April 15th. They set an "outperform" rating and a $65.00 price target on the stock. Hsbc Global Res raised Sanofi to a "strong-buy" rating in a research note on Monday, April 28th. Guggenheim restated a "buy" rating on shares of Sanofi in a report on Tuesday, June 3rd. Morgan Stanley set a $56.00 price target on shares of Sanofi in a research note on Monday, June 2nd. Finally, The Goldman Sachs Group began coverage on shares of Sanofi in a research note on Friday, March 21st. They issued a "neutral" rating and a $65.00 price objective for the company. Three research analysts have rated the stock with a hold rating, three have assigned a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $61.50.

Sanofi Stock Down 1.1%

NASDAQ:SNY traded down $0.52 during midday trading on Friday, reaching $47.85. The company had a trading volume of 2,642,025 shares, compared to its average volume of 2,349,273. Sanofi has a 12-month low of $45.80 and a 12-month high of $60.12. The firm has a market capitalization of $117.35 billion, a price-to-earnings ratio of 17.09, a PEG ratio of 0.99 and a beta of 0.50. The company has a current ratio of 1.37, a quick ratio of 0.69 and a debt-to-equity ratio of 0.16. The stock's fifty day simple moving average is $51.01 and its 200-day simple moving average is $52.00.

Sanofi (NASDAQ:SNY - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The company reported $0.94 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.90 by $0.04. The company had revenue of $10.41 billion for the quarter, compared to analyst estimates of $9.79 billion. Sanofi had a return on equity of 17.15% and a net margin of 14.56%. Sanofi's revenue for the quarter was down 11.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.78 EPS. On average, sell-side analysts anticipate that Sanofi will post 4.36 earnings per share for the current fiscal year.

Sanofi Increases Dividend

The company also recently announced an annual dividend, which was paid on Thursday, June 12th. Investors of record on Friday, May 9th were issued a $2.0369 dividend. This is a boost from Sanofi's previous annual dividend of $1.48. The ex-dividend date was Friday, May 9th. This represents a yield of 3.1%. Sanofi's dividend payout ratio (DPR) is 57.14%.

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.