Regeneron Pharmaceuticals, Inc. $REGN Shares Sold by Horizon Investments LLC

Key Points

• Horizon Investments LLC cut its stake in Regeneron Pharmaceuticals by 79.5% in Q4, selling 15,137 shares and leaving it with 3,892 shares worth about $3.00 million.
• Regeneron beat quarterly estimates with EPS of $9.47 (vs. $8.91) and revenue of $3.61 billion (up 19% YoY), and analysts maintain a "Moderate Buy" consensus with an average price target of $826.59 (JPMorgan raised its target to $950).
• Company insiders sold 3,874 shares over the past 90 days (including Director Huda Y. Zoghbi and SVP Jason Pitofsky), and Regeneron announced a quarterly dividend of $0.94 payable June 4 (ex-dividend May 20).

Horizon Investments LLC cut its holdings in shares of Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN - Free Report) by 79.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,892 shares of the biopharmaceutical company's stock after selling 15,137 shares during the period. Horizon Investments LLC's holdings in Regeneron Pharmaceuticals were worth $3,004,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Robeco Institutional Asset Management B.V. lifted its holdings in Regeneron Pharmaceuticals by 153.4% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 120,884 shares of the biopharmaceutical company's stock worth $67,969,000 after buying an additional 73,176 shares in the last quarter. PGGM Investments lifted its holdings in Regeneron Pharmaceuticals by 9.7% in the 3rd quarter. PGGM Investments now owns 92,584 shares of the biopharmaceutical company's stock worth $52,057,000 after buying an additional 8,187 shares in the last quarter. Sound Shore Management Inc CT acquired a new position in Regeneron Pharmaceuticals in the 3rd quarter worth $64,677,000. Rakuten Investment Management Inc. acquired a new position in Regeneron Pharmaceuticals in the 3rd quarter worth $33,121,000. Finally, Ellerson Group Inc. ADV lifted its holdings in Regeneron Pharmaceuticals by 49.2% in the 3rd quarter. Ellerson Group Inc. ADV now owns 8,102 shares of the biopharmaceutical company's stock worth $4,556,000 after buying an additional 2,671 shares in the last quarter. 83.31% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Regeneron Pharmaceuticals from $850.00 to $950.00 and gave the stock an "overweight" rating in a report on Monday, February 2nd. Piper Sandler assumed coverage on shares of Regeneron Pharmaceuticals in a report on Tuesday, March 31st. They issued an "overweight" rating and a $875.00 price objective on the stock. Zacks Research lowered shares of Regeneron Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a report on Friday, February 6th. Barclays cut their price objective on shares of Regeneron Pharmaceuticals from $923.00 to $917.00 and set an "overweight" rating on the stock in a report on Thursday, April 30th. Finally, Truist Financial cut their price objective on shares of Regeneron Pharmaceuticals from $801.00 to $796.00 and set a "buy" rating on the stock in a report on Thursday, April 30th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $826.59.

Insider Activity

In related news, Director Huda Y. Zoghbi sold 1,638 shares of the stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $781.33, for a total transaction of $1,279,818.54. Following the sale, the director owned 1,703 shares in the company, valued at $1,330,604.99. This represents a 49.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Jason Pitofsky sold 2,036 shares of the stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $778.52, for a total transaction of $1,585,066.72. Following the sale, the senior vice president owned 4,272 shares in the company, valued at approximately $3,325,837.44. This trade represents a 32.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 3,874 shares of company stock worth $3,013,262. 6.97% of the stock is currently owned by corporate insiders.

Regeneron Pharmaceuticals Stock Performance

Shares of Regeneron Pharmaceuticals stock opened at $709.21 on Tuesday. The firm has a market cap of $74.98 billion, a PE ratio of 17.28, a price-to-earnings-growth ratio of 1.60 and a beta of 0.30. The firm's 50-day simple moving average is $756.81 and its 200-day simple moving average is $737.56. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.96 and a current ratio of 3.57. Regeneron Pharmaceuticals, Inc. has a 1 year low of $476.49 and a 1 year high of $821.11.

Regeneron Pharmaceuticals (NASDAQ:REGN - Get Free Report) last issued its earnings results on Wednesday, April 29th. The biopharmaceutical company reported $9.47 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $8.91 by $0.56. The business had revenue of $3.61 billion for the quarter, compared to analyst estimates of $3.48 billion. Regeneron Pharmaceuticals had a net margin of 29.65% and a return on equity of 13.16%. The company's revenue for the quarter was up 19.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $8.22 EPS. Equities analysts forecast that Regeneron Pharmaceuticals, Inc. will post 36.05 earnings per share for the current fiscal year.

Regeneron Pharmaceuticals Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 4th. Stockholders of record on Wednesday, May 20th will be paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date is Wednesday, May 20th. Regeneron Pharmaceuticals's dividend payout ratio is 9.16%.

About Regeneron Pharmaceuticals

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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