Summit Global Investments Has $1.76 Million Holdings in Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN)

Summit Global Investments cut its stake in shares of Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN - Free Report) by 72.6% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,772 shares of the biopharmaceutical company's stock after selling 7,342 shares during the period. Summit Global Investments' holdings in Regeneron Pharmaceuticals were worth $1,758,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Tompkins Financial Corp purchased a new position in shares of Regeneron Pharmaceuticals during the first quarter valued at $32,000. GAMMA Investing LLC grew its holdings in shares of Regeneron Pharmaceuticals by 89,825.0% during the first quarter. GAMMA Investing LLC now owns 815,620 shares of the biopharmaceutical company's stock valued at $517,291,000 after buying an additional 814,713 shares in the last quarter. Moody National Bank Trust Division grew its holdings in shares of Regeneron Pharmaceuticals by 3.5% during the first quarter. Moody National Bank Trust Division now owns 1,551 shares of the biopharmaceutical company's stock valued at $984,000 after buying an additional 53 shares in the last quarter. Versant Capital Management Inc grew its holdings in shares of Regeneron Pharmaceuticals by 334.6% during the first quarter. Versant Capital Management Inc now owns 226 shares of the biopharmaceutical company's stock valued at $143,000 after buying an additional 174 shares in the last quarter. Finally, First Hawaiian Bank grew its holdings in shares of Regeneron Pharmaceuticals by 21.5% during the first quarter. First Hawaiian Bank now owns 3,639 shares of the biopharmaceutical company's stock valued at $2,308,000 after buying an additional 644 shares in the last quarter. 83.31% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on REGN. Leerink Partners upgraded Regeneron Pharmaceuticals from a "market perform" rating to an "outperform" rating and lifted their price target for the company from $762.00 to $834.00 in a report on Wednesday, February 5th. The Goldman Sachs Group lowered their price target on Regeneron Pharmaceuticals from $917.00 to $804.00 and set a "buy" rating on the stock in a report on Wednesday, April 30th. Truist Financial lowered their price target on Regeneron Pharmaceuticals from $975.00 to $940.00 and set a "buy" rating on the stock in a report on Wednesday, April 30th. TD Cowen lowered their price target on Regeneron Pharmaceuticals from $1,230.00 to $1,030.00 and set a "buy" rating on the stock in a report on Tuesday, February 4th. Finally, Cantor Fitzgerald assumed coverage on Regeneron Pharmaceuticals in a research note on Tuesday, April 22nd. They issued an "overweight" rating and a $695.00 target price on the stock. One analyst has rated the stock with a sell rating, six have given a hold rating, seventeen have issued a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, Regeneron Pharmaceuticals presently has a consensus rating of "Moderate Buy" and an average price target of $874.56.

Regeneron Pharmaceuticals Stock Down 18.5%

Shares of REGN traded down $112.15 during trading hours on Friday, hitting $493.24. 6,307,887 shares of the company were exchanged, compared to its average volume of 829,463. Regeneron Pharmaceuticals, Inc. has a 52 week low of $485.00 and a 52 week high of $1,211.20. The company has a debt-to-equity ratio of 0.09, a quick ratio of 3.95 and a current ratio of 4.73. The company has a market cap of $53.25 billion, a PE ratio of 12.89, a PEG ratio of 2.34 and a beta of 0.43. The firm's 50 day moving average is $584.25 and its 200-day moving average is $666.47.

Regeneron Pharmaceuticals (NASDAQ:REGN - Get Free Report) last issued its quarterly 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). Regeneron Pharmaceuticals had a return on equity of 16.32% and a net margin of 31.07%. The business had revenue of $3.03 billion for the quarter, compared to analyst estimates of $3.40 billion. During the same quarter last year, the firm earned $9.55 earnings per share. The firm's quarterly revenue was down 3.7% compared to the same quarter last year. On average, equities research analysts forecast that Regeneron Pharmaceuticals, Inc. will post 35.92 EPS for the current fiscal year.

Regeneron Pharmaceuticals Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Tuesday, May 20th will be issued a dividend of $0.88 per share. The ex-dividend date is Tuesday, May 20th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 0.71%. Regeneron Pharmaceuticals's dividend payout ratio (DPR) is presently 8.96%.

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.