Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) Shares Sold by Cornerstone Advisors LLC

Key Points

• Cornerstone Advisors LLC reduced its holdings in Regeneron Pharmaceuticals by 22.8% in the first quarter, now owning 6,100 shares valued at approximately $3.87 million.
• Recent analyst reports have led to price target reductions, with Wells Fargo lowering its rating from "overweight" to "equal weight" and Goldman Sachs decreasing its target from $917 to $804, while maintaining a "buy" rating.
• Regeneron Pharmaceuticals reported a strong earnings quarter with an EPS of $12.89, significantly exceeding expectations of $8.43, alongside a proposed quarterly dividend of $0.88 per share.

Cornerstone Advisors LLC reduced its stake in shares of Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN - Free Report) by 22.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,100 shares of the biopharmaceutical company's stock after selling 1,800 shares during the quarter. Cornerstone Advisors LLC's holdings in Regeneron Pharmaceuticals were worth $3,869,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of REGN. Vanguard Group Inc. boosted its stake in Regeneron Pharmaceuticals by 1.3% during the first quarter. Vanguard Group Inc. now owns 9,407,891 shares of the biopharmaceutical company's stock valued at $5,966,767,000 after buying an additional 121,545 shares during the last quarter. 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 last quarter. Dodge & Cox raised its stake in Regeneron Pharmaceuticals by 0.4% during the fourth quarter. Dodge & Cox now owns 2,321,316 shares of the biopharmaceutical company's stock valued at $1,653,543,000 after purchasing an additional 9,381 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in Regeneron Pharmaceuticals by 63.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,085,447 shares of the biopharmaceutical company's stock valued at $1,485,527,000 after purchasing an additional 810,144 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in shares of Regeneron Pharmaceuticals by 18.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,143,093 shares of the biopharmaceutical company's stock worth $724,984,000 after buying an additional 174,056 shares in the last quarter. Institutional investors own 83.31% of the company's stock.

Regeneron Pharmaceuticals Stock Performance

Shares of REGN traded up $2.63 during trading hours on Friday, reaching $562.43. 104,166 shares of the company traded hands, compared to its average volume of 1,109,783. The stock has a market capitalization of $60.72 billion, a P/E ratio of 14.17, a P/E/G ratio of 1.91 and a beta of 0.33. The company has a quick ratio of 4.73, a current ratio of 4.60 and a debt-to-equity ratio of 0.09. The business has a fifty day moving average price of $535.40 and a 200-day moving average price of $600.61. 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 quarterly earnings results on Friday, August 1st. The biopharmaceutical company reported $12.89 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $8.43 by $4.46. The company had revenue of $3,675,600 billion during the quarter, compared to analyst estimates of $3.30 billion. Regeneron Pharmaceuticals had a net margin of 31.37% and a return on equity of 15.06%. Regeneron Pharmaceuticals's revenue for the quarter was up 3.6% compared to the same quarter last year. During the same period last year, the firm posted $11.56 EPS. Equities 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 will be paid on Wednesday, September 3rd. Stockholders of record on Monday, August 18th will be issued 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 is Monday, August 18th. Regeneron Pharmaceuticals's payout ratio is 8.87%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Morgan Stanley restated an "overweight" rating and set a $761.00 target price (up from $754.00) on shares of Regeneron Pharmaceuticals in a research report on Friday, August 1st. Wall Street Zen cut Regeneron Pharmaceuticals from a "buy" rating to a "hold" rating in a report on Thursday, May 1st. Truist Financial lowered their target price on shares of Regeneron Pharmaceuticals from $975.00 to $940.00 and set a "buy" rating for the company in a report on Wednesday, April 30th. UBS Group reaffirmed a "neutral" rating on shares of Regeneron Pharmaceuticals in a research note on Friday, August 1st. Finally, Canaccord Genuity Group reissued a "buy" rating and set a $850.00 price target on shares of Regeneron Pharmaceuticals in a research note on Wednesday, July 23rd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $841.30.

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.