Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) Shares Bought by Bank of Nova Scotia

Key Points

• Bank of Nova Scotia increased its holdings in Regeneron Pharmaceuticals by 36.0% in the 1st quarter, owning approximately 0.11% of the company's stock valued at about $77.75 million.
• Regeneron Pharmaceuticals reported earnings of $8.22 per share for the last quarter, missing analysts' expectations and demonstrating a 3.7% year-over-year revenue decline.
• The company recently announced a quarterly dividend of $0.88 per share, with a current dividend yield of 0.6% and a payout ratio of 8.96%.

Bank of Nova Scotia grew its holdings in shares of Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN - Free Report) by 36.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 122,589 shares of the biopharmaceutical company's stock after purchasing an additional 32,427 shares during the quarter. Bank of Nova Scotia owned approximately 0.11% of Regeneron Pharmaceuticals worth $77,750,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Pinney & Scofield Inc. acquired a new position in Regeneron Pharmaceuticals in the 4th quarter valued at about $25,000. E Fund Management Hong Kong Co. Ltd. boosted its holdings in Regeneron Pharmaceuticals by 344.4% in the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 40 shares of the biopharmaceutical company's stock valued at $25,000 after purchasing an additional 31 shares during the last quarter. Tompkins Financial Corp acquired a new position in Regeneron Pharmaceuticals in the 1st quarter valued at about $32,000. Curat Global LLC acquired a new position in Regeneron Pharmaceuticals in the 1st quarter valued at about $32,000. Finally, American National Bank & Trust acquired a new position in Regeneron Pharmaceuticals in the 1st quarter valued at about $44,000. Institutional investors and hedge funds own 83.31% of the company's stock.

Regeneron Pharmaceuticals Stock Up 2.5%

REGN stock opened at $558.87 on Friday. The company's 50 day moving average price is $538.05 and its 200 day moving average price is $604.08. The company has a debt-to-equity ratio of 0.09, a quick ratio of 4.03 and a current ratio of 4.93. Regeneron Pharmaceuticals, Inc. has a fifty-two week low of $476.49 and a fifty-two week high of $1,211.20. The firm has a market capitalization of $60.34 billion, a price-to-earnings ratio of 14.23, a PEG ratio of 2.05 and a beta of 0.33.

Regeneron Pharmaceuticals (NASDAQ:REGN - Get Free Report) last released its earnings results on Tuesday, April 29th. The biopharmaceutical company reported $8.22 earnings per share for the quarter, missing analysts' consensus estimates of $8.83 by ($0.61). Regeneron Pharmaceuticals had a return on equity of 15.27% and a net margin of 31.94%. The firm had revenue of $3.03 billion for the quarter, compared to analysts' expectations of $3.40 billion. During the same quarter in the previous year, the company posted $9.55 earnings per share. The firm's quarterly revenue was down 3.7% on a year-over-year basis. On average, equities research analysts anticipate that Regeneron Pharmaceuticals, Inc. will post 35.92 EPS for the current fiscal year.

Regeneron Pharmaceuticals Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 6th. Investors of record on Tuesday, May 20th were paid a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date was Tuesday, May 20th. Regeneron Pharmaceuticals's dividend payout ratio is presently 8.96%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on REGN shares. Wells Fargo & Company lowered shares of Regeneron Pharmaceuticals from an "overweight" rating to an "equal weight" rating and set a $580.00 price objective on the stock. in a report on Friday. The Goldman Sachs Group reduced their price objective on shares of Regeneron Pharmaceuticals from $917.00 to $804.00 and set a "buy" rating on the stock in a report on Wednesday, April 30th. Citigroup restated a "buy" rating and issued a $650.00 price objective on shares of Regeneron Pharmaceuticals in a report on Friday. Truist Financial reduced their price objective on shares of Regeneron Pharmaceuticals from $975.00 to $940.00 and set a "buy" rating on the stock in a report on Wednesday, April 30th. Finally, Morgan Stanley restated an "overweight" rating on shares of Regeneron Pharmaceuticals in a report on Friday. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $837.61.

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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