Vestcor Inc Decreases Stake in Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN)

Key Points

• Vestcor Inc significantly reduced its holdings in Regeneron Pharmaceuticals by 70.9% during Q1, after selling 14,679 shares, bringing their holdings to 6,027 shares valued at $3.82 million.
• Regeneron Pharmaceuticals reported a quarterly earnings miss with an EPS of $8.22, falling short of analyst estimates of $8.83, and experienced a 3.7% revenue decline compared to the previous year.
• Brokerages have lowered their price targets for Regeneron, with Wells Fargo cutting its target from $700 to $580 and Goldman Sachs reducing theirs from $917 to $804.

Vestcor Inc trimmed its holdings in Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN - Free Report) by 70.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,027 shares of the biopharmaceutical company's stock after selling 14,679 shares during the period. Vestcor Inc's holdings in Regeneron Pharmaceuticals were worth $3,823,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Pinney & Scofield Inc. bought a new position in Regeneron Pharmaceuticals in the 4th quarter valued at $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 period. Tompkins Financial Corp bought a new position in Regeneron Pharmaceuticals in the 1st quarter valued at $32,000. Curat Global LLC purchased a new position in shares of Regeneron Pharmaceuticals in the 1st quarter worth about $32,000. Finally, American National Bank & Trust purchased a new position in shares of Regeneron Pharmaceuticals in the 1st quarter worth about $44,000. 83.31% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on REGN shares. Wall Street Zen downgraded shares of Regeneron Pharmaceuticals from a "buy" rating to a "hold" rating in a research note on Thursday, May 1st. BMO Capital Markets decreased their price target on shares of Regeneron Pharmaceuticals from $800.00 to $600.00 and set an "outperform" rating for the company in a research note on Monday, June 2nd. Citigroup reissued a "buy" rating and set a $650.00 price objective on shares of Regeneron Pharmaceuticals in a research report on Friday. Truist Financial cut 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, Bank of America cut their price objective on shares of Regeneron Pharmaceuticals from $575.00 to $547.00 and set an "underperform" rating on the stock in a report on Thursday, April 17th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $837.61.

Regeneron Pharmaceuticals Stock Performance

Shares of REGN stock traded up $13.41 during trading hours on Friday, hitting $558.87. The company's stock had a trading volume of 1,656,418 shares, compared to its average volume of 858,977. The company has a 50 day moving average of $538.05 and a 200 day moving average of $604.08. The stock has a market cap of $60.34 billion, a PE ratio of 14.23, a price-to-earnings-growth ratio of 2.05 and a beta of 0.33. The company has a current ratio of 4.93, a quick ratio of 4.03 and a debt-to-equity ratio of 0.09. Regeneron Pharmaceuticals, Inc. has a 12-month low of $476.49 and a 12-month high of $1,211.20.

Regeneron Pharmaceuticals (NASDAQ:REGN - Get Free Report) last posted 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 business had revenue of $3.03 billion for the quarter, compared to analyst estimates 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 was down 3.7% on a year-over-year basis. During the same quarter last year, the business earned $9.55 earnings per share. On average, sell-side analysts forecast that Regeneron Pharmaceuticals, Inc. will post 35.92 EPS for the current fiscal year.

Regeneron Pharmaceuticals Announces Dividend

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