Procyon Advisors LLC Sells 5,942 Shares of Regeneron Pharmaceuticals, Inc. $REGN

Key Points

• Procyon Advisors LLC significantly reduced its holdings in Regeneron Pharmaceuticals, selling 5,942 shares and decreasing its ownership by 91.8%, leaving it with just 531 shares valued at approximately $279,000.
• The stock currently has an average price target of $817.67 and a "Moderate Buy" rating from analysts, with three analysts giving a "Strong Buy" rating.
• Regeneron Pharmaceuticals reported quarterly earnings of $12.89 EPS, exceeding expectations and marking a revenue increase of 3.6% year-over-year.

Procyon Advisors LLC trimmed its holdings in Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN - Free Report) by 91.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 531 shares of the biopharmaceutical company's stock after selling 5,942 shares during the period. Procyon Advisors LLC's holdings in Regeneron Pharmaceuticals were worth $279,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Pinney & Scofield Inc. bought a new stake in Regeneron Pharmaceuticals during the fourth quarter valued at $25,000. E Fund Management Hong Kong Co. Ltd. grew its position in shares of Regeneron Pharmaceuticals by 344.4% during the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 40 shares of the biopharmaceutical company's stock worth $25,000 after acquiring an additional 31 shares during the last quarter. Activest Wealth Management increased its holdings in shares of Regeneron Pharmaceuticals by 110.5% in the 1st quarter. Activest Wealth Management now owns 40 shares of the biopharmaceutical company's stock worth $25,000 after acquiring an additional 21 shares during the period. Costello Asset Management INC acquired a new stake in shares of Regeneron Pharmaceuticals in the 1st quarter worth about $27,000. Finally, Saudi Central Bank acquired a new stake in shares of Regeneron Pharmaceuticals in the 1st quarter worth about $27,000. 83.31% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

REGN has been the subject of several research analyst reports. Jefferies Financial Group upped their price objective on shares of Regeneron Pharmaceuticals from $813.00 to $831.00 and gave the stock a "buy" rating in a report on Wednesday, August 27th. Truist Financial reduced their price objective on shares of Regeneron Pharmaceuticals from $940.00 to $812.00 and set a "buy" rating for the company in a report on Monday, August 11th. Royal Bank Of Canada upped their price objective on shares of Regeneron Pharmaceuticals from $688.00 to $695.00 and gave the stock a "sector perform" rating in a report on Monday, August 4th. Wells Fargo & Company downgraded shares of Regeneron Pharmaceuticals from an "overweight" rating to an "equal weight" rating and set a $580.00 price target for the company. in a report on Friday, August 1st. Finally, Citigroup reissued a "buy" rating and issued a $650.00 price target on shares of Regeneron Pharmaceuticals in a report on Friday, August 1st. Three research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $817.67.

Regeneron Pharmaceuticals Stock Down 3.3%

Shares of REGN traded down $19.94 on Tuesday, hitting $575.74. The company's stock had a trading volume of 340,737 shares, compared to its average volume of 1,094,547. The company has a quick ratio of 3.72, a current ratio of 4.60 and a debt-to-equity ratio of 0.09. The firm's fifty day moving average price is $568.27 and its 200-day moving average price is $573.48. Regeneron Pharmaceuticals, Inc. has a fifty-two week low of $476.49 and a fifty-two week high of $1,080.00. The firm has a market capitalization of $61.02 billion, a price-to-earnings ratio of 14.54, a P/E/G ratio of 1.98 and a beta of 0.35.

Regeneron Pharmaceuticals (NASDAQ:REGN - Get Free Report) last issued its quarterly earnings data on Friday, August 1st. The biopharmaceutical company reported $12.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.43 by $4.46. The business had revenue of $3.68 billion during the quarter, compared to analyst estimates of $3.30 billion. Regeneron Pharmaceuticals had a return on equity of 15.06% and a net margin of 31.37%.Regeneron Pharmaceuticals's quarterly revenue was up 3.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $11.56 EPS. On average, equities research analysts expect that Regeneron Pharmaceuticals, Inc. will post 35.92 EPS for the current year.

Regeneron Pharmaceuticals Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 3rd. Shareholders of record on Monday, August 18th were paid a $0.88 dividend. The ex-dividend date was Monday, August 18th. This represents a $3.52 annualized dividend and a yield of 0.6%. Regeneron Pharmaceuticals's payout ratio is presently 8.87%.

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.