Pinnacle Associates Ltd. Increases Stock Position in Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN)

Pinnacle Associates Ltd. increased its stake in shares of Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN - Free Report) by 29.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 81,013 shares of the biopharmaceutical company's stock after purchasing an additional 18,550 shares during the quarter. Regeneron Pharmaceuticals accounts for 0.8% of Pinnacle Associates Ltd.'s holdings, making the stock its 24th largest holding. Pinnacle Associates Ltd. owned about 0.07% of Regeneron Pharmaceuticals worth $51,381,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Pinney & Scofield Inc. acquired a new position in Regeneron Pharmaceuticals in the fourth quarter valued at approximately $25,000. E Fund Management Hong Kong Co. Ltd. boosted its holdings in shares of Regeneron Pharmaceuticals by 344.4% in the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 40 shares of the biopharmaceutical company's stock valued at $25,000 after buying an additional 31 shares in the last quarter. Tompkins Financial Corp acquired a new position in shares of Regeneron Pharmaceuticals in the 1st quarter valued at $32,000. Curat Global LLC purchased a new position in shares of Regeneron Pharmaceuticals in the 1st quarter valued at $32,000. Finally, American National Bank & Trust acquired a new stake in Regeneron Pharmaceuticals during the 1st quarter worth $44,000. Hedge funds and other institutional investors own 83.31% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently commented on REGN. Bank of America cut their target price on Regeneron Pharmaceuticals from $575.00 to $547.00 and set an "underperform" rating on the stock in a research report on Thursday, April 17th. BMO Capital Markets cut their price target on Regeneron Pharmaceuticals from $800.00 to $600.00 and set an "outperform" rating on the stock in a research report on Monday, June 2nd. Guggenheim reiterated a "buy" rating on shares of Regeneron Pharmaceuticals in a research note on Friday, May 30th. Argus cut shares of Regeneron Pharmaceuticals from a "buy" rating to a "hold" rating in a report on Monday, June 30th. Finally, The Goldman Sachs Group decreased their price target on shares of Regeneron Pharmaceuticals from $917.00 to $804.00 and set a "buy" rating for the company in a research note on Wednesday, April 30th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $837.61.

Regeneron Pharmaceuticals Price Performance

Shares of NASDAQ:REGN traded down $1.54 on Friday, reaching $563.10. 755,785 shares of the company were exchanged, compared to its average volume of 906,903. The company has a 50-day moving average of $543.18 and a 200-day moving average of $610.72. 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 $60.79 billion, a price-to-earnings ratio of 14.34, a price-to-earnings-growth ratio of 2.11 and a beta of 0.33. Regeneron Pharmaceuticals, Inc. has a 1-year low of $476.49 and a 1-year high of $1,211.20.

Regeneron Pharmaceuticals (NASDAQ:REGN - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The biopharmaceutical company reported $8.22 EPS for the quarter, missing analysts' consensus estimates of $8.83 by ($0.61). Regeneron Pharmaceuticals had a return on equity of 15.27% and a net margin of 31.94%. The company had revenue of $3.03 billion for the quarter, compared to analysts' expectations of $3.40 billion. During the same period in the prior year, the firm posted $9.55 EPS. The firm's quarterly revenue was down 3.7% on a year-over-year basis. Equities analysts forecast that Regeneron Pharmaceuticals, Inc. will post 35.92 earnings per share for the current fiscal year.

Regeneron Pharmaceuticals Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 6th. Investors of record on Tuesday, May 20th were issued a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date was Tuesday, May 20th. Regeneron Pharmaceuticals's dividend payout ratio is currently 8.96%.

About Regeneron Pharmaceuticals

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.