Sumitomo Life Insurance Co. Reduces Holdings in Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN)

Sumitomo Life Insurance Co. reduced its position in Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN - Free Report) by 25.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,320 shares of the biopharmaceutical company's stock after selling 792 shares during the quarter. Sumitomo Life Insurance Co.'s holdings in Regeneron Pharmaceuticals were worth $1,471,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Pinney & Scofield Inc. purchased a new position in shares of Regeneron Pharmaceuticals during the fourth quarter worth approximately $25,000. E Fund Management Hong Kong Co. Ltd. increased its holdings in Regeneron Pharmaceuticals by 344.4% during the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 40 shares of the biopharmaceutical company's stock valued at $25,000 after buying an additional 31 shares during the period. Tompkins Financial Corp acquired a new stake in Regeneron Pharmaceuticals in the first quarter valued at approximately $32,000. Curat Global LLC acquired a new stake in Regeneron Pharmaceuticals in the first quarter valued at approximately $32,000. Finally, Avalon Trust Co acquired a new stake in Regeneron Pharmaceuticals in the fourth quarter valued at approximately $36,000. 83.31% of the stock is owned by hedge funds and other institutional investors.

Regeneron Pharmaceuticals Price Performance

Shares of REGN stock traded up $2.07 on Thursday, reaching $550.00. 989,175 shares of the company were exchanged, compared to its average volume of 922,416. The company has a market cap of $59.38 billion, a price-to-earnings ratio of 14.00, a P/E/G ratio of 2.03 and a beta of 0.33. The business has a 50-day moving average price of $544.09 and a 200 day moving average price of $617.21. 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 1 year low of $476.49 and a 1 year high of $1,211.20.

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

Regeneron Pharmaceuticals Announces Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend was Tuesday, May 20th. This represents a $3.52 annualized dividend and a yield of 0.64%. Regeneron Pharmaceuticals's dividend payout ratio is presently 8.96%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Royal Bank Of Canada downgraded shares of Regeneron Pharmaceuticals from a "moderate buy" rating to a "hold" rating and set a $662.00 target price for the company. in a research note on Friday, May 30th. JPMorgan Chase & Co. lowered their target price on shares of Regeneron Pharmaceuticals from $950.00 to $800.00 and set an "overweight" rating for the company in a research note on Monday, June 9th. The Goldman Sachs Group dropped 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. Wall Street Zen lowered shares of Regeneron Pharmaceuticals from a "buy" rating to a "hold" rating in a report on Thursday, May 1st. Finally, BMO Capital Markets dropped their price objective on shares of Regeneron Pharmaceuticals from $800.00 to $600.00 and set an "outperform" rating on the stock in a report on Monday, June 2nd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, sixteen have issued a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Regeneron Pharmaceuticals presently has a consensus rating of "Moderate Buy" and an average price target of $823.54.

About Regeneron Pharmaceuticals

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.