Picton Mahoney Asset Management Acquires 8,234 Shares of Regeneron Pharmaceuticals, Inc. $REGN

Key Points

• Picton Mahoney Asset Management bought 8,234 shares of Regeneron in the quarter, increasing its stake to 8,235 shares (reported as an 823,400% increase) worth about $4.63 million.
• Equity analysts hold a consensus rating of "Moderate Buy" with a consensus target price of $796.52, and several firms recently raised their targets (as high as $875 and $865).
• Regeneron topped estimates for the quarter with $11.44 EPS (vs. $10.74 est.) and $3.88 billion revenue, and boosted its quarterly dividend to $0.94 (annualized $3.76, ~0.5% yield).

Picton Mahoney Asset Management increased its holdings in Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN - Free Report) by 823,400.0% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 8,235 shares of the biopharmaceutical company's stock after buying an additional 8,234 shares during the quarter. Picton Mahoney Asset Management's holdings in Regeneron Pharmaceuticals were worth $4,632,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Dodge & Cox boosted its holdings in shares of Regeneron Pharmaceuticals by 64.6% during the 2nd quarter. Dodge & Cox now owns 3,826,283 shares of the biopharmaceutical company's stock valued at $2,008,799,000 after acquiring an additional 1,502,198 shares during the last quarter. Norges Bank bought a new position in Regeneron Pharmaceuticals during the second quarter valued at approximately $628,151,000. Acadian Asset Management LLC boosted its holdings in Regeneron Pharmaceuticals by 234.7% in the second quarter. Acadian Asset Management LLC now owns 465,740 shares of the biopharmaceutical company's stock worth $244,480,000 after purchasing an additional 326,583 shares during the last quarter. Loomis Sayles & Co. L P grew its position in Regeneron Pharmaceuticals by 18.6% in the 2nd quarter. Loomis Sayles & Co. L P now owns 1,941,070 shares of the biopharmaceutical company's stock worth $1,019,062,000 after purchasing an additional 305,089 shares during the period. Finally, Invesco Ltd. raised its stake in Regeneron Pharmaceuticals by 26.5% during the 2nd quarter. Invesco Ltd. now owns 1,075,824 shares of the biopharmaceutical company's stock valued at $564,808,000 after buying an additional 225,078 shares during the last quarter. Hedge funds and other institutional investors own 83.31% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on REGN. Scotiabank increased their price target on Regeneron Pharmaceuticals from $650.00 to $770.00 and gave the company a "sector perform" rating in a report on Monday, November 24th. Weiss Ratings reissued a "hold (c)" rating on shares of Regeneron Pharmaceuticals in a report on Monday, December 29th. Truist Financial cut their price target on Regeneron Pharmaceuticals from $820.00 to $818.00 and set a "buy" rating for the company in a research note on Monday, February 2nd. Evercore upped their price target on shares of Regeneron Pharmaceuticals from $750.00 to $875.00 and gave the company an "outperform" rating in a research report on Thursday, January 22nd. Finally, Oppenheimer reissued an "outperform" rating and issued a $865.00 price objective (up from $750.00) on shares of Regeneron Pharmaceuticals in a report on Monday, February 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, Regeneron Pharmaceuticals presently has a consensus rating of "Moderate Buy" and a consensus target price of $796.52.

Insider Activity

In related news, Director Huda Y. Zoghbi sold 1,638 shares of Regeneron Pharmaceuticals stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $781.33, for a total transaction of $1,279,818.54. Following the transaction, the director owned 1,703 shares in the company, valued at approximately $1,330,604.99. The trade was a 49.03% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Jason Pitofsky sold 2,036 shares of the company's stock in a transaction on Monday, February 9th. The stock was sold at an average price of $778.52, for a total transaction of $1,585,066.72. Following the completion of the transaction, the senior vice president directly owned 4,272 shares of the company's stock, valued at $3,325,837.44. This represents a 32.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 5,274 shares of company stock valued at $4,142,738 over the last 90 days. Company insiders own 7.02% of the company's stock.

Regeneron Pharmaceuticals Stock Down 2.9%

NASDAQ REGN opened at $764.93 on Friday. Regeneron Pharmaceuticals, Inc. has a 52 week low of $476.49 and a 52 week high of $821.11. The company has a quick ratio of 3.39, a current ratio of 4.13 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $80.87 billion, a P/E ratio of 18.41, a price-to-earnings-growth ratio of 2.12 and a beta of 0.41. The stock's 50-day moving average price is $771.31 and its 200-day moving average price is $686.65.

Regeneron Pharmaceuticals (NASDAQ:REGN - Get Free Report) last released its earnings results on Friday, January 30th. The biopharmaceutical company reported $11.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.74 by $0.70. Regeneron Pharmaceuticals had a net margin of 31.41% and a return on equity of 13.04%. The company had revenue of $3.88 billion during the quarter, compared to analyst estimates of $3.76 billion. During the same period in the prior year, the firm posted $12.07 EPS. The firm's quarterly revenue was up 2.5% compared to the same quarter last year. On average, equities research analysts predict that Regeneron Pharmaceuticals, Inc. will post 35.92 earnings per share for the current year.

Regeneron Pharmaceuticals Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 5th. Stockholders of record on Friday, February 20th were paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.5%. This is a boost from Regeneron Pharmaceuticals's previous quarterly dividend of $0.88. The ex-dividend date of this dividend was Friday, February 20th. Regeneron Pharmaceuticals's dividend payout ratio is currently 9.05%.

About Regeneron Pharmaceuticals

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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