Perpetual Ltd Sells 1,598 Shares of Regeneron Pharmaceuticals, Inc. $REGN

Key Points

• Perpetual Ltd cut its Regeneron stake by 66.4% in the third quarter, selling 1,598 shares and retaining 809 shares valued at approximately $613,000.
• Regeneron has a “Moderate Buy” consensus rating from analysts, with an average price target of $834.24; several firms recently raised their targets, including HSBC to $920 and JPMorgan to $950.
• The company reported strong quarterly results, with earnings of $14.29 per share and revenue of $4.29 billion, both exceeding expectations; revenue rose 16.7% year over year.

Perpetual Ltd reduced its stake in Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN - Free Report) by 66.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 809 shares of the biopharmaceutical company's stock after selling 1,598 shares during the quarter. Perpetual Ltd's holdings in Regeneron Pharmaceuticals were worth $613,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. BlackRock Inc. purchased a new stake in Regeneron Pharmaceuticals in the second quarter worth about $5,682,636,000. State Street Corp lifted its position in shares of Regeneron Pharmaceuticals by 3.6% during the 2nd quarter. State Street Corp now owns 4,834,688 shares of the biopharmaceutical company's stock valued at $3,014,621,000 after buying an additional 170,210 shares in the last quarter. Invesco Ltd. lifted its position in shares of Regeneron Pharmaceuticals by 7.2% during the 4th quarter. Invesco Ltd. now owns 1,591,105 shares of the biopharmaceutical company's stock valued at $1,228,127,000 after buying an additional 106,632 shares in the last quarter. Bank of America Corp DE grew its stake in shares of Regeneron Pharmaceuticals by 2.8% during the 1st quarter. Bank of America Corp DE now owns 1,189,584 shares of the biopharmaceutical company's stock valued at $919,120,000 after acquiring an additional 32,158 shares during the period. Finally, Amundi grew its stake in shares of Regeneron Pharmaceuticals by 27.5% during the 1st quarter. Amundi now owns 1,009,798 shares of the biopharmaceutical company's stock valued at $780,210,000 after acquiring an additional 217,892 shares during the period. 83.31% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Regeneron Pharmaceuticals

In other Regeneron Pharmaceuticals news, Director Huda Y. Zoghbi sold 800 shares of the stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $800.00, for a total transaction of $640,000.00. Following the completion of the transaction, the director owned 1,703 shares of the company's stock, valued at $1,362,400. This represents a 31.96% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kathryn Guarini sold 400 shares of the firm's stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $850.00, for a total value of $340,000.00. Following the transaction, the director owned 603 shares of the company's stock, valued at approximately $512,550. The trade was a 39.88% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 3,946 shares of company stock worth $3,302,458. Insiders own 6.97% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Morgan Stanley raised their target price on shares of Regeneron Pharmaceuticals from $758.00 to $779.00 and gave the stock an "equal weight" rating in a research note on Wednesday, October 7th. HSBC upped their price target on shares of Regeneron Pharmaceuticals from $800.00 to $920.00 and gave the stock a "buy" rating in a research report on Thursday, September 10th. The Goldman Sachs Group increased their price objective on shares of Regeneron Pharmaceuticals from $965.00 to $972.00 and gave the stock a "buy" rating in a research note on Friday, July 31st. JPMorgan Chase & Co. raised their price objective on shares of Regeneron Pharmaceuticals from $900.00 to $950.00 and gave the company an "overweight" rating in a research report on Tuesday, October 6th. Finally, Robert W. Baird raised their price objective on shares of Regeneron Pharmaceuticals from $742.00 to $761.00 and gave the company a "neutral" rating in a research report on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $834.24.

Regeneron Pharmaceuticals Trading Up 3.4%

Shares of REGN opened at $778.36 on Thursday. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.34 and a quick ratio of 2.78. Regeneron Pharmaceuticals, Inc. has a 1 year low of $564.00 and a 1 year high of $859.34. The company has a 50 day simple moving average of $791.11 and a two-hundred day simple moving average of $720.89. The firm has a market cap of $80.14 billion, a P/E ratio of 19.33, a price-to-earnings-growth ratio of 1.30 and a beta of 0.16.

Regeneron Pharmaceuticals (NASDAQ:REGN - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The biopharmaceutical company reported $14.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.16 by $4.13. Regeneron Pharmaceuticals had a net margin of 27.86% and a return on equity of 13.47%. The firm had revenue of $4.29 billion for the quarter, compared to analysts' expectations of $3.82 billion. During the same quarter last year, the business posted $12.81 earnings per share. The company's revenue for the quarter was up 16.7% compared to the same quarter last year. On average, equities analysts expect that Regeneron Pharmaceuticals, Inc. will post 47.93 earnings per share for the current fiscal year.

Regeneron Pharmaceuticals Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 31st. Shareholders of record on Tuesday, August 18th were issued a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date was Tuesday, August 18th. Regeneron Pharmaceuticals's payout ratio is currently 9.29%.

Regeneron Pharmaceuticals Company Profile

Regeneron Pharmaceuticals, Inc is a biotechnology company that discovers, develops and commercializes medicines for serious medical conditions. The company uses human genetics, antibody technology and other biological research platforms to develop treatments in areas including eye diseases, cancer, cardiovascular and metabolic disorders, inflammatory diseases, infectious diseases and rare conditions.

Regeneron's marketed products include EYLEA and EYLEA HD for certain retinal diseases; Dupixent, developed and commercialized with Sanofi, for multiple allergic and inflammatory conditions; Libtayo for certain cancers; Praluent for high cholesterol; Kevzara for rheumatoid arthritis and other inflammatory diseases; Evkeeza for homozygous familial hypercholesterolemia; and Veopoz for a rare immune-mediated disorder.

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