Raymond James Financial Inc. Has $179.91 Million Stake in Sanofi $SNY

Key Points

• Raymond James Financial Inc. increased its stake in Sanofi by 15.1% in the first quarter, acquiring an additional 425,597 shares for a total of 3,244,027 shares valued at approximately $179.9 million.
• Sanofi reported $11.34 billion in quarterly revenue, exceeding analysts' expectations of $9.91 billion, despite earnings per share falling short of estimates.
• Analysts have a positive outlook on Sanofi, with an average rating of "Buy" and a price target of $62.00, reflecting confidence in the company's financial performance and growth potential.

Raymond James Financial Inc. lifted its stake in Sanofi (NASDAQ:SNY - Free Report) by 15.1% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,244,027 shares of the company's stock after purchasing an additional 425,597 shares during the quarter. Raymond James Financial Inc. owned 0.13% of Sanofi worth $179,914,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Accent Capital Management LLC acquired a new position in shares of Sanofi in the 1st quarter valued at $29,000. Eastern Bank boosted its position in shares of Sanofi by 121.0% in the 1st quarter. Eastern Bank now owns 548 shares of the company's stock valued at $30,000 after purchasing an additional 300 shares during the period. Golden State Wealth Management LLC boosted its position in shares of Sanofi by 619.3% in the 1st quarter. Golden State Wealth Management LLC now owns 633 shares of the company's stock valued at $35,000 after purchasing an additional 545 shares during the period. Brentview Investment Management LLC acquired a new stake in Sanofi during the 1st quarter worth about $42,000. Finally, UMB Bank n.a. boosted its position in Sanofi by 30.7% during the 1st quarter. UMB Bank n.a. now owns 1,124 shares of the company's stock worth $62,000 after acquiring an additional 264 shares during the period. Institutional investors and hedge funds own 14.04% of the company's stock.

Sanofi Price Performance

Sanofi stock traded up $0.08 on Thursday, reaching $50.61. The company's stock had a trading volume of 1,491,271 shares, compared to its average volume of 2,567,537. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.94 and a current ratio of 1.27. The company has a market cap of $124.27 billion, a price-to-earnings ratio of 12.17, a PEG ratio of 1.20 and a beta of 0.48. The business's fifty day moving average price is $48.59 and its 200 day moving average price is $51.76. Sanofi has a twelve month low of $44.73 and a twelve month high of $60.12.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on SNY shares. Deutsche Bank Aktiengesellschaft restated a "hold" rating on shares of Sanofi in a research report on Tuesday, August 5th. JPMorgan Chase & Co. upgraded Sanofi from a "neutral" rating to an "overweight" rating in a report on Friday, August 8th. Morgan Stanley set a $56.00 price target on Sanofi in a report on Monday, June 2nd. Wall Street Zen upgraded Sanofi from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Finally, Guggenheim restated a "buy" rating on shares of Sanofi in a research report on Tuesday, June 3rd. Three equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company 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.