ProVise Management Group LLC Increases Position in Sanofi (NASDAQ:SNY)

Key Points

• ProVise Management Group LLC increased its holdings in Sanofi by 3.1% during the first quarter, owning 193,213 shares valued at $10.7 million as per recent SEC disclosures.
• Multiple hedge funds, including Price T Rowe Associates and Point72 Asset Management, made significant increases to their positions in Sanofi, with some raising holdings by as much as 969.6%.
• Research analysts maintain a positive outlook on Sanofi, with an average rating of "Buy" and a consensus price target of $62.00, reflecting confidence in the stock's potential performance.

ProVise Management Group LLC grew its holdings in shares of Sanofi (NASDAQ:SNY - Free Report) by 3.1% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 193,213 shares of the company's stock after purchasing an additional 5,786 shares during the period. ProVise Management Group LLC's holdings in Sanofi were worth $10,716,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD raised its holdings in Sanofi by 88.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 10,843,682 shares of the company's stock worth $522,991,000 after buying an additional 5,091,304 shares during the last quarter. Federated Hermes Inc. increased its position in shares of Sanofi by 58.5% during the first quarter. Federated Hermes Inc. now owns 3,947,583 shares of the company's stock valued at $218,933,000 after acquiring an additional 1,456,269 shares in the last quarter. Point72 Asset Management L.P. raised its holdings in Sanofi by 969.6% in the 4th quarter. Point72 Asset Management L.P. now owns 950,649 shares of the company's stock worth $45,850,000 after acquiring an additional 861,770 shares during the last quarter. Regal Partners Ltd bought a new position in Sanofi in the 4th quarter valued at approximately $35,034,000. Finally, Vestal Point Capital LP boosted its stake in Sanofi by 400.0% during the 4th quarter. Vestal Point Capital LP now owns 750,000 shares of the company's stock valued at $36,172,000 after purchasing an additional 600,000 shares during the last quarter. 14.04% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Barclays restated an "overweight" rating on shares of Sanofi in a research note on Wednesday, July 2nd. Morgan Stanley set a $56.00 target price on Sanofi in a research report on Monday, June 2nd. Hsbc Global Res upgraded shares of Sanofi to a "strong-buy" rating in a research note on Monday, April 28th. BNP Paribas initiated coverage on shares of Sanofi in a report on Tuesday, April 15th. They set an "outperform" rating and a $65.00 price target on the stock. Finally, Guggenheim reissued a "buy" rating on shares of Sanofi in a report on Tuesday, June 3rd. Three equities research analysts have rated the stock with a hold rating, three have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, Sanofi presently has an average rating of "Buy" and a consensus price target of $62.00.

Sanofi Stock Performance

SNY opened at $45.64 on Friday. The company's 50 day moving average is $49.21 and its 200 day moving average is $52.09. The company has a current ratio of 1.37, a quick ratio of 0.69 and a debt-to-equity ratio of 0.16. The company has a market cap of $111.93 billion, a price-to-earnings ratio of 16.30, a PEG ratio of 1.12 and a beta of 0.48. Sanofi has a 12-month low of $44.73 and a 12-month high of $60.12.

Sanofi 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.

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