Regeneron Pharmaceuticals, Inc. $REGN Shares Sold by Geode Capital Management LLC

Key Points

• Geode Capital Management trimmed its Regeneron stake by 0.6% in the fourth quarter, but still held about 2.52 million shares worth roughly $1.94 billion, or 2.4% of the company.
• Regeneron reported better-than-expected first-quarter results, with EPS of $9.47 and revenue of $3.61 billion, both topping analyst estimates and marking 19% year-over-year revenue growth.
• Analysts remain mixed but generally constructive: the stock has a Moderate Buy consensus, though price targets were adjusted recently, with Citigroup cutting its target to $700 while TD Cowen and Guggenheim raised theirs.

Geode Capital Management LLC lowered its stake in shares of Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN - Free Report) by 0.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,519,540 shares of the biopharmaceutical company's stock after selling 16,358 shares during the quarter. Geode Capital Management LLC owned approximately 2.40% of Regeneron Pharmaceuticals worth $1,936,711,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. King Luther Capital Management Corp grew its position in shares of Regeneron Pharmaceuticals by 5.0% during the fourth quarter. King Luther Capital Management Corp now owns 948 shares of the biopharmaceutical company's stock worth $732,000 after buying an additional 45 shares in the last quarter. Jackson Creek Investment Advisors LLC acquired a new stake in shares of Regeneron Pharmaceuticals during the fourth quarter worth approximately $583,000. Integrity Alliance LLC. acquired a new stake in shares of Regeneron Pharmaceuticals during the fourth quarter worth approximately $387,000. Cary Street Partners Investment Advisory LLC grew its position in shares of Regeneron Pharmaceuticals by 84.0% during the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 725 shares of the biopharmaceutical company's stock worth $560,000 after buying an additional 331 shares in the last quarter. Finally, Allstate Corp grew its position in shares of Regeneron Pharmaceuticals by 103.0% during the fourth quarter. Allstate Corp now owns 7,664 shares of the biopharmaceutical company's stock worth $5,916,000 after buying an additional 3,889 shares in the last quarter. Institutional investors and hedge funds own 83.31% of the company's stock.

Insider Buying and Selling

In other Regeneron Pharmaceuticals news, Director Arthur F. Ryan sold 100 shares of Regeneron Pharmaceuticals stock in a transaction on Friday, May 1st. The shares were sold at an average price of $705.24, for a total value of $70,524.00. Following the completion of the transaction, the director owned 17,503 shares of the company's stock, valued at $12,343,815.72. The trade was a 0.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 6.97% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Piper Sandler decreased their price target on shares of Regeneron Pharmaceuticals from $875.00 to $855.00 and set an "overweight" rating for the company in a research report on Monday, May 18th. TD Cowen raised their price target on shares of Regeneron Pharmaceuticals from $880.00 to $960.00 and gave the stock a "buy" rating in a research report on Thursday, April 23rd. Wall Street Zen raised shares of Regeneron Pharmaceuticals from a "hold" rating to a "buy" rating in a research report on Saturday, May 2nd. Guggenheim raised their price target on shares of Regeneron Pharmaceuticals from $975.00 to $995.00 and gave the stock a "buy" rating in a research report on Friday, May 1st. Finally, Citigroup downgraded shares of Regeneron Pharmaceuticals from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $900.00 to $700.00 in a research report on Monday, May 18th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and ten have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Regeneron Pharmaceuticals has an average rating of "Moderate Buy" and a consensus target price of $792.65.

Regeneron Pharmaceuticals Stock Performance

Regeneron Pharmaceuticals stock opened at $621.52 on Friday. The company has a market cap of $65.71 billion, a PE ratio of 15.14, a P/E/G ratio of 1.39 and a beta of 0.30. The company has a fifty day moving average price of $721.74 and a two-hundred day moving average price of $745.26. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.57 and a quick ratio of 2.96. Regeneron Pharmaceuticals, Inc. has a 12 month low of $476.49 and a 12 month high of $821.11.

Regeneron Pharmaceuticals (NASDAQ:REGN - Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The biopharmaceutical company reported $9.47 EPS for the quarter, topping analysts' consensus estimates of $8.91 by $0.56. The firm had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.48 billion. Regeneron Pharmaceuticals had a net margin of 29.65% and a return on equity of 13.16%. The firm's revenue was up 19.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $8.22 earnings per share. Research analysts expect that Regeneron Pharmaceuticals, Inc. will post 37.25 earnings per share for the current year.

Regeneron Pharmaceuticals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 4th. Shareholders of record on Wednesday, May 20th will be issued a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Wednesday, May 20th. Regeneron Pharmaceuticals's payout ratio is currently 9.16%.

Regeneron Pharmaceuticals Company Profile

Regeneron Pharmaceuticals, Inc NASDAQ: REGN is a U.S.-based biotechnology company founded in 1988 and headquartered in Tarrytown, New York. It focuses on discovering, developing, manufacturing and commercializing medicines for serious medical conditions. The company combines laboratory research, clinical development and in-house manufacturing to advance a pipeline of biologic therapies across multiple therapeutic areas.

Regeneron is known for its proprietary drug discovery technologies, including its VelocImmune platform, which is used to generate fully human monoclonal antibodies.

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