OVERSEA CHINESE BANKING Corp Ltd Invests $30.17 Million in Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN)

OVERSEA CHINESE BANKING Corp Ltd purchased a new position in shares of Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 47,567 shares of the biopharmaceutical company's stock, valued at approximately $30,168,000.

A number of other institutional investors and hedge funds have also made changes to their positions in REGN. Pinney & Scofield Inc. acquired a new stake in shares of Regeneron Pharmaceuticals during the 4th quarter worth approximately $25,000. E Fund Management Hong Kong Co. Ltd. raised its position in shares of Regeneron Pharmaceuticals by 344.4% during the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 40 shares of the biopharmaceutical company's stock worth $25,000 after purchasing an additional 31 shares during the period. Tompkins Financial Corp acquired a new stake in shares of Regeneron Pharmaceuticals during the 1st quarter worth approximately $32,000. Curat Global LLC acquired a new stake in Regeneron Pharmaceuticals in the 1st quarter valued at approximately $32,000. Finally, Avalon Trust Co acquired a new stake in Regeneron Pharmaceuticals in the 4th quarter valued at approximately $36,000. 83.31% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

REGN has been the topic of several analyst reports. The Goldman Sachs Group lowered their target price on Regeneron Pharmaceuticals from $917.00 to $804.00 and set a "buy" rating on the stock in a research report on Wednesday, April 30th. Wells Fargo & Company lowered Regeneron Pharmaceuticals from an "overweight" rating to an "equal weight" rating and decreased their price target for the company from $700.00 to $580.00 in a research note on Friday, May 30th. UBS Group increased their price target on Regeneron Pharmaceuticals from $560.00 to $584.00 and gave the company a "neutral" rating in a research note on Friday. Citigroup decreased their price target on Regeneron Pharmaceuticals from $700.00 to $650.00 and set a "buy" rating for the company in a research note on Monday, June 2nd. Finally, JPMorgan Chase & Co. decreased their price target on Regeneron Pharmaceuticals from $950.00 to $800.00 and set an "overweight" rating for the company in a research note on Monday, June 9th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, sixteen have issued a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $823.54.

Regeneron Pharmaceuticals Price Performance

Shares of NASDAQ:REGN opened at $567.74 on Monday. Regeneron Pharmaceuticals, Inc. has a 1 year low of $476.49 and a 1 year high of $1,211.20. The business has a fifty day simple moving average of $545.22 and a 200 day simple moving average of $619.17. The company has a current ratio of 4.93, a quick ratio of 4.03 and a debt-to-equity ratio of 0.09. The firm has a market cap of $61.30 billion, a price-to-earnings ratio of 14.45, a P/E/G ratio of 2.11 and a beta of 0.33.

Regeneron Pharmaceuticals (NASDAQ:REGN - Get Free Report) last posted its earnings results on Tuesday, April 29th. The biopharmaceutical company reported $8.22 earnings per share for the quarter, missing the consensus estimate of $8.83 by ($0.61). Regeneron Pharmaceuticals had a net margin of 31.94% and a return on equity of 15.27%. The company had revenue of $3.03 billion for the quarter, compared to the consensus estimate of $3.40 billion. During the same quarter last year, the business earned $9.55 earnings per share. Regeneron Pharmaceuticals's quarterly revenue was down 3.7% on a year-over-year basis. As a group, sell-side analysts predict that Regeneron Pharmaceuticals, Inc. will post 35.92 earnings per share for the current fiscal year.

Regeneron Pharmaceuticals Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Tuesday, May 20th were issued a dividend of $0.88 per share. The ex-dividend date was Tuesday, May 20th. This represents a $3.52 annualized dividend and a yield of 0.62%. Regeneron Pharmaceuticals's dividend payout ratio (DPR) is currently 8.96%.

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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