Pictet Asset Management Holding SA Sells 30,616 Shares of Regeneron Pharmaceuticals, Inc. $REGN

Key Points

• Pictet Asset Management cut its Regeneron stake by 8.3% in the first quarter, selling 30,616 shares and leaving it with 337,254 shares valued at about $258.4 million.
• Regeneron reported better-than-expected Q1 results, with EPS of $9.47 versus $8.91 expected and revenue of $3.61 billion, up 19% year over year.
• Analysts remain mixed but generally constructive: the stock’s consensus rating is Moderate Buy, though several firms recently cut price targets, and shares were trading at $632.90 versus a 12-month high of $821.11.

Pictet Asset Management Holding SA lowered its position in Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN - Free Report) by 8.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 337,254 shares of the biopharmaceutical company's stock after selling 30,616 shares during the period. Pictet Asset Management Holding SA owned about 0.32% of Regeneron Pharmaceuticals worth $258,358,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. WPG Advisers LLC lifted its position in shares of Regeneron Pharmaceuticals by 312.5% during the 4th quarter. WPG Advisers LLC now owns 33 shares of the biopharmaceutical company's stock worth $25,000 after buying an additional 25 shares in the last quarter. SHP Wealth Management bought a new position in shares of Regeneron Pharmaceuticals in the fourth quarter valued at approximately $26,000. Titan Wealth CI Ltd bought a new position in shares of Regeneron Pharmaceuticals in the fourth quarter valued at approximately $29,000. Board of the Pension Protection Fund bought a new position in shares of Regeneron Pharmaceuticals in the fourth quarter valued at approximately $31,000. Finally, Kemnay Advisory Services Inc. purchased a new stake in shares of Regeneron Pharmaceuticals during the fourth quarter valued at approximately $31,000. 83.31% of the stock is owned by institutional investors.

Insider Buying and Selling at Regeneron Pharmaceuticals

In other news, Director Arthur F. Ryan sold 100 shares of Regeneron Pharmaceuticals stock in a transaction on Friday, May 1st. The stock was sold at an average price of $705.24, for a total value of $70,524.00. Following the completion of the transaction, the director directly owned 17,503 shares in the company, valued at approximately $12,343,815.72. The trade was a 0.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 6.97% of the company's stock.

Regeneron Pharmaceuticals Stock Performance

Shares of REGN stock opened at $632.90 on Friday. The stock has a market capitalization of $66.91 billion, a P/E ratio of 15.42, a PEG ratio of 1.39 and a beta of 0.25. The company has a current ratio of 3.57, a quick ratio of 2.96 and a debt-to-equity ratio of 0.06. The firm's 50 day moving average is $663.51 and its 200 day moving average is $728.45. Regeneron Pharmaceuticals, Inc. has a 12 month low of $517.39 and a 12 month high of $821.11.

Regeneron Pharmaceuticals (NASDAQ:REGN - Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The biopharmaceutical company reported $9.47 earnings per share for the quarter, beating analysts' consensus estimates of $8.91 by $0.56. Regeneron Pharmaceuticals had a net margin of 29.65% and a return on equity of 13.16%. The business had revenue of $3.61 billion during the quarter, compared to analyst estimates of $3.48 billion. During the same period in the previous year, the business earned $8.22 EPS. Regeneron Pharmaceuticals's revenue was up 19.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Regeneron Pharmaceuticals, Inc. will post 37.44 earnings per share for the current year.

Regeneron Pharmaceuticals Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Wednesday, May 20th were issued a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend was Wednesday, May 20th. Regeneron Pharmaceuticals's dividend payout ratio (DPR) is presently 9.16%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on REGN shares. Canaccord Genuity Group dropped their price target on Regeneron Pharmaceuticals from $1,057.00 to $875.00 and set a "buy" rating on the stock in a report on Tuesday, May 19th. Citigroup downgraded Regeneron Pharmaceuticals from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $900.00 to $700.00 in a research note on Monday, May 18th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $800.00 target price on shares of Regeneron Pharmaceuticals in a research report on Thursday, April 23rd. Leerink Partners reiterated a "market perform" rating and set a $641.00 target price (down from $792.00) on shares of Regeneron Pharmaceuticals in a research note on Monday, May 18th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Regeneron Pharmaceuticals in a report on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $792.65.

Regeneron Pharmaceuticals Company Profile

Regeneron Pharmaceuticals, Inc NASDAQ: REGN is a U.S.-based biotechnology company founded in 1988 and headquartered in Tarrytown, New York. It focuses on discovering, developing, manufacturing and commercializing medicines for serious medical conditions. The company combines laboratory research, clinical development and in-house manufacturing to advance a pipeline of biologic therapies across multiple therapeutic areas.

Regeneron is known for its proprietary drug discovery technologies, including its VelocImmune platform, which is used to generate fully human monoclonal antibodies.

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