PNC Financial Services Group Inc. Increases Position in Sanofi (NASDAQ:SNY)

PNC Financial Services Group Inc. grew its stake in Sanofi (NASDAQ:SNY - Free Report) by 16.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 116,797 shares of the company's stock after purchasing an additional 16,710 shares during the period. PNC Financial Services Group Inc.'s holdings in Sanofi were worth $6,478,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in SNY. Cardinal Capital Management increased its position in shares of Sanofi by 0.3% during the first quarter. Cardinal Capital Management now owns 69,004 shares of the company's stock worth $3,827,000 after buying an additional 199 shares during the period. Gradient Investments LLC raised its position in shares of Sanofi by 2.1% in the 1st quarter. Gradient Investments LLC now owns 9,764 shares of the company's stock worth $542,000 after acquiring an additional 200 shares in the last quarter. Perigon Wealth Management LLC lifted its stake in shares of Sanofi by 3.1% in the 1st quarter. Perigon Wealth Management LLC now owns 6,618 shares of the company's stock valued at $367,000 after purchasing an additional 201 shares during the period. Beacon Financial Group boosted its position in shares of Sanofi by 1.6% during the 1st quarter. Beacon Financial Group now owns 14,398 shares of the company's stock valued at $799,000 after purchasing an additional 222 shares in the last quarter. Finally, AdvisorNet Financial Inc boosted its position in shares of Sanofi by 16.4% during the 1st quarter. AdvisorNet Financial Inc now owns 1,613 shares of the company's stock valued at $89,000 after purchasing an additional 227 shares in the last quarter. 14.04% of the stock is owned by institutional investors.

Sanofi Stock Down 0.6%

NASDAQ SNY traded down $0.28 during mid-day trading on Friday, hitting $47.16. The company's stock had a trading volume of 2,968,334 shares, compared to its average volume of 2,590,792. The company has a current ratio of 1.27, a quick ratio of 0.94 and a debt-to-equity ratio of 0.19. The company's 50 day simple moving average is $48.72 and its 200 day simple moving average is $52.00. Sanofi has a twelve month low of $44.73 and a twelve month high of $60.12. The firm has a market capitalization of $115.79 billion, a price-to-earnings ratio of 11.34, a PEG ratio of 1.10 and a beta of 0.48.

Sanofi (NASDAQ:SNY - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The company reported $0.90 earnings per share for the quarter, missing the consensus estimate of $0.96 by ($0.06). The business had revenue of $11.34 billion during the quarter, compared to the consensus estimate of $9.91 billion. Sanofi had a net margin of 21.47% and a return on equity of 16.86%. Sanofi's revenue was down 7.0% compared to the same quarter last year. During the same period in the previous year, the business posted $1.73 EPS. Analysts anticipate that Sanofi will post 4.36 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on SNY shares. BNP Paribas started coverage on Sanofi in a report on Tuesday, April 15th. They issued an "outperform" rating and a $65.00 target price for the company. JPMorgan Chase & Co. upgraded shares of Sanofi from a "neutral" rating to an "overweight" rating in a research note on Friday. Wall Street Zen raised shares of Sanofi from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Morgan Stanley set a $56.00 price target on shares of Sanofi in a research note on Monday, June 2nd. Finally, Barclays reiterated an "overweight" rating on shares of Sanofi in a report on Wednesday, July 2nd. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $62.00.

Sanofi Company Profile

Sanofi, a healthcare company, engages in the research, development, manufacture, and marketing of therapeutic solutions in the United States, Europe, Canada, and internationally. It operates through Pharmaceuticals, Vaccines, and Consumer Healthcare segments. The company provides specialty care, such as DUPIXENT, neurology and immunology, rare diseases, oncology, and rare blood disorders; medicines for diabetes and cardiovascular diseases; and established prescription products.