Nikko Asset Management Americas Inc. Cuts Stake in Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN)

Key Points

• Nikko Asset Management Americas Inc. reduced its holdings in Regeneron Pharmaceuticals by 7.6%, owning 24,164 shares valued at approximately $15.31 million after selling 1,990 shares.
• A variety of institutional investors have adjusted their stakes in Regeneron, including GAMMA Investing LLC, which raised its holdings by a remarkable 89,825.0%, now owning 815,620 shares worth about $517.29 million.
• Analysts have mixed views on Regeneron, with multiple firms updating price targets and ratings; the current consensus price target stands at $837.61, indicating a generally positive outlook despite recent earnings misses.

Nikko Asset Management Americas Inc. lowered its position in shares of Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN - Free Report) by 7.6% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,164 shares of the biopharmaceutical company's stock after selling 1,990 shares during the quarter. Nikko Asset Management Americas Inc.'s holdings in Regeneron Pharmaceuticals were worth $15,311,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Capital International Investors increased its position in Regeneron Pharmaceuticals by 41.6% in the fourth quarter. Capital International Investors now owns 4,736,929 shares of the biopharmaceutical company's stock worth $3,373,859,000 after purchasing an additional 1,390,534 shares during the period. Norges Bank bought a new position in Regeneron Pharmaceuticals in the fourth quarter valued at approximately $802,036,000. GAMMA Investing LLC raised its stake in shares of Regeneron Pharmaceuticals by 89,825.0% in the 1st quarter. GAMMA Investing LLC now owns 815,620 shares of the biopharmaceutical company's stock valued at $517,291,000 after purchasing an additional 814,713 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of Regeneron Pharmaceuticals by 63.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,085,447 shares of the biopharmaceutical company's stock worth $1,485,527,000 after purchasing an additional 810,144 shares in the last quarter. Finally, Pacer Advisors Inc. increased its stake in Regeneron Pharmaceuticals by 2,296.9% in the 1st quarter. Pacer Advisors Inc. now owns 407,370 shares of the biopharmaceutical company's stock valued at $258,366,000 after buying an additional 390,374 shares during the last quarter. Institutional investors own 83.31% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Wells Fargo & Company lowered shares of Regeneron Pharmaceuticals from an "overweight" rating to an "equal weight" rating and lowered their price objective for the stock from $700.00 to $580.00 in a research note on Friday, May 30th. UBS Group boosted their price objective on shares of Regeneron Pharmaceuticals from $560.00 to $584.00 and gave the company a "neutral" rating in a report on Friday, July 11th. The Goldman Sachs Group cut their price target on shares of Regeneron Pharmaceuticals from $917.00 to $804.00 and set a "buy" rating for the company in a report on Wednesday, April 30th. Truist Financial lowered their price objective on shares of Regeneron Pharmaceuticals from $975.00 to $940.00 and set a "buy" rating for the company in a research report on Wednesday, April 30th. Finally, Cantor Fitzgerald began coverage on shares of Regeneron Pharmaceuticals in a research report on Tuesday, April 22nd. They set an "overweight" rating and a $695.00 price objective for the company. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Regeneron Pharmaceuticals has an average rating of "Moderate Buy" and an average price target of $837.61.

Regeneron Pharmaceuticals Stock Performance

REGN traded up $2.26 during trading hours on Wednesday, hitting $560.41. The stock had a trading volume of 203,812 shares, compared to its average volume of 1,111,524. The company's fifty day simple moving average is $540.67 and its 200 day simple moving average is $606.53. Regeneron Pharmaceuticals, Inc. has a 1 year low of $476.49 and a 1 year high of $1,211.20. The stock has a market cap of $60.50 billion, a PE ratio of 14.27, a price-to-earnings-growth ratio of 2.10 and a beta of 0.33. The company has a quick ratio of 4.03, a current ratio of 4.93 and a debt-to-equity ratio of 0.09.

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

Regeneron Pharmaceuticals Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Tuesday, May 20th were given a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date of this dividend was Tuesday, May 20th. Regeneron Pharmaceuticals's payout ratio is 8.96%.

Regeneron Pharmaceuticals 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.