Raymond James Financial Inc. Boosts Stock Position in Regeneron Pharmaceuticals, Inc. $REGN

Key Points

• Raymond James Financial Inc. increased its stake in Regeneron Pharmaceuticals by 21.9% during Q1, now owning 111,509 shares worth approximately $70.7 million.
• Regeneron reported Q2 earnings of $12.89 per share, significantly beating analyst estimates of $8.43, with revenue at $3.68 billion.
• The company declared a quarterly dividend of $0.88 per share, with a dividend yield of 0.6%, set to be paid on September 3rd.

Raymond James Financial Inc. grew its stake in shares of Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN - Free Report) by 21.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 111,509 shares of the biopharmaceutical company's stock after acquiring an additional 20,006 shares during the period. Raymond James Financial Inc. owned 0.10% of Regeneron Pharmaceuticals worth $70,722,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. Cresset Asset Management LLC lifted its position in shares of Regeneron Pharmaceuticals by 668.3% during the first quarter. Cresset Asset Management LLC now owns 4,143 shares of the biopharmaceutical company's stock worth $2,627,000 after acquiring an additional 4,872 shares in the last quarter. Alliance Wealth Advisors LLC UT lifted its position in shares of Regeneron Pharmaceuticals by 81.9% during the first quarter. Alliance Wealth Advisors LLC UT now owns 633 shares of the biopharmaceutical company's stock worth $401,000 after acquiring an additional 285 shares in the last quarter. Forvis Mazars Wealth Advisors LLC lifted its position in shares of Regeneron Pharmaceuticals by 4.3% during the first quarter. Forvis Mazars Wealth Advisors LLC now owns 3,394 shares of the biopharmaceutical company's stock worth $2,153,000 after acquiring an additional 139 shares in the last quarter. Tocqueville Asset Management L.P. purchased a new stake in shares of Regeneron Pharmaceuticals during the first quarter worth $54,499,000. Finally, Oak Grove Capital LLC lifted its position in shares of Regeneron Pharmaceuticals by 3.4% during the first quarter. Oak Grove Capital LLC now owns 3,030 shares of the biopharmaceutical company's stock worth $1,922,000 after acquiring an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 83.31% of the company's stock.

Regeneron Pharmaceuticals Trading Up 3.4%

NASDAQ REGN opened at $591.01 on Thursday. The stock's 50-day simple moving average is $547.75 and its two-hundred day simple moving average is $593.42. Regeneron Pharmaceuticals, Inc. has a twelve month low of $476.49 and a twelve month high of $1,211.20. 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 company has a market capitalization of $62.64 billion, a price-to-earnings ratio of 14.89, a PEG ratio of 1.90 and a beta of 0.33.

Regeneron Pharmaceuticals (NASDAQ:REGN - Get Free Report) last released its quarterly earnings results on Friday, August 1st. The biopharmaceutical company reported $12.89 earnings per share for the quarter, beating analysts' consensus estimates of $8.43 by $4.46. Regeneron Pharmaceuticals had a return on equity of 15.06% and a net margin of 31.37%.The business had revenue of $3,675,600 billion for the quarter, compared to the consensus estimate of $3.30 billion. During the same quarter last year, the business posted $11.56 earnings per share. The company's revenue for the quarter was up 3.6% on a year-over-year basis. Research analysts forecast that Regeneron Pharmaceuticals, Inc. will post 35.92 EPS for the current fiscal year.

Regeneron Pharmaceuticals Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 3rd. Shareholders of record on Monday, August 18th will be given a dividend of $0.88 per share. The ex-dividend date is Monday, August 18th. This represents a $3.52 dividend on an annualized basis and a yield of 0.6%. Regeneron Pharmaceuticals's dividend payout ratio (DPR) is presently 8.87%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on REGN shares. Robert W. Baird dropped their target price on Regeneron Pharmaceuticals from $759.00 to $652.00 and set a "neutral" rating on the stock in a research report on Friday, April 25th. Wells Fargo & Company downgraded Regeneron Pharmaceuticals from an "overweight" rating to an "equal weight" rating and set a $580.00 price objective on the stock. in a research report on Friday, August 1st. Truist Financial lowered their price objective on Regeneron Pharmaceuticals from $940.00 to $812.00 and set a "buy" rating on the stock in a research report on Monday, August 11th. Rothschild & Co Redburn initiated coverage on Regeneron Pharmaceuticals in a research report on Thursday, August 14th. They issued a "buy" rating and a $890.00 price objective on the stock. Finally, Argus downgraded Regeneron Pharmaceuticals from a "buy" rating to a "hold" rating in a research report on Monday, June 30th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $829.65.

Regeneron Pharmaceuticals Company Profile

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.

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