Regeneron Pharmaceuticals, Inc. $REGN Shares Sold by New York State Common Retirement Fund

Key Points

• New York State Common Retirement Fund trimmed its stake in Regeneron by 1.9%, selling 2,471 shares and reducing its holding to 128,069 shares (about 0.12% of the company) valued at roughly $67.24 million.
• Company insiders also sold stock recently: VP Jason Pitofsky sold 431 shares for ~$280,766 and Director Christine A. Poon sold 6,500 shares for ~$4.25 million, cutting her position by 73.43%.
• Regeneron reported an EPS beat ($11.83 vs. $9.73 est.) and $3.75B revenue, declared a $0.88 quarterly dividend (annual $3.52, ~0.5% yield), and carries a consensus analyst rating of “Moderate Buy” with an average price target of $757.91.

New York State Common Retirement Fund trimmed its holdings in shares of Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN - Free Report) by 1.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 128,069 shares of the biopharmaceutical company's stock after selling 2,471 shares during the period. New York State Common Retirement Fund owned about 0.12% of Regeneron Pharmaceuticals worth $67,236,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in Regeneron Pharmaceuticals by 1.3% during the 1st 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. Franklin Resources Inc. lifted its position in shares of Regeneron Pharmaceuticals by 1.6% in the second quarter. Franklin Resources Inc. now owns 2,313,496 shares of the biopharmaceutical company's stock valued at $1,214,585,000 after acquiring an additional 36,821 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Regeneron Pharmaceuticals by 4.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,175,026 shares of the biopharmaceutical company's stock valued at $1,379,467,000 after acquiring an additional 89,579 shares during the last quarter. Loomis Sayles & Co. L P increased its position in Regeneron Pharmaceuticals by 18.6% during the 2nd quarter. Loomis Sayles & Co. L P now owns 1,941,070 shares of the biopharmaceutical company's stock worth $1,019,062,000 after purchasing an additional 305,089 shares in the last quarter. Finally, Amundi increased its position in Regeneron Pharmaceuticals by 3.4% during the 1st quarter. Amundi now owns 1,603,901 shares of the biopharmaceutical company's stock worth $979,794,000 after purchasing an additional 52,166 shares in the last quarter. 83.31% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, VP Jason Pitofsky sold 431 shares of the business's stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $651.43, for a total transaction of $280,766.33. Following the sale, the vice president owned 4,233 shares in the company, valued at $2,757,503.19. The trade was a 9.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Christine A. Poon sold 6,500 shares of the firm's stock in a transaction that occurred on Wednesday, October 29th. The stock was sold at an average price of $654.27, for a total transaction of $4,252,755.00. Following the completion of the transaction, the director directly owned 2,352 shares of the company's stock, valued at $1,538,843.04. This represents a 73.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 7.02% of the stock is currently owned by insiders.

Regeneron Pharmaceuticals Stock Performance

REGN opened at $779.09 on Friday. The business has a 50 day moving average price of $634.75 and a two-hundred day moving average price of $583.49. Regeneron Pharmaceuticals, Inc. has a 1-year low of $476.49 and a 1-year high of $800.99. The company has a market capitalization of $81.88 billion, a price-to-earnings ratio of 18.66, a price-to-earnings-growth ratio of 2.03 and a beta of 0.31. The company has a debt-to-equity ratio of 0.09, a current ratio of 4.06 and a quick ratio of 3.72.

Regeneron Pharmaceuticals (NASDAQ:REGN - Get Free Report) last released its quarterly earnings data on Tuesday, October 28th. The biopharmaceutical company reported $11.83 earnings per share for the quarter, topping the consensus estimate of $9.73 by $2.10. The business had revenue of $3.75 billion during the quarter, compared to analyst estimates of $3.57 billion. Regeneron Pharmaceuticals had a return on equity of 13.76% and a net margin of 32.13%.The company's revenue was up .9% compared to the same quarter last year. During the same period last year, the company posted $12.46 EPS. Research analysts predict that Regeneron Pharmaceuticals, Inc. will post 35.92 EPS for the current fiscal year.

Regeneron Pharmaceuticals Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 5th. Investors of record on Thursday, November 20th will be paid a $0.88 dividend. The ex-dividend date of this dividend is Thursday, November 20th. This represents a $3.52 dividend on an annualized basis and a yield of 0.5%. Regeneron Pharmaceuticals's dividend payout ratio (DPR) is currently 8.43%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Bank of America upped their target price on shares of Regeneron Pharmaceuticals from $543.00 to $627.00 and gave the company an "underperform" rating in a report on Wednesday, October 29th. Truist Financial initiated coverage on Regeneron Pharmaceuticals in a report on Monday, November 24th. They issued a "buy" rating and a $798.00 price objective on the stock. Royal Bank Of Canada lifted their target price on shares of Regeneron Pharmaceuticals from $704.00 to $708.00 and gave the company a "sector perform" rating in a report on Wednesday, October 29th. Canaccord Genuity Group restated a "buy" rating and issued a $850.00 price target on shares of Regeneron Pharmaceuticals in a report on Thursday, October 23rd. Finally, Jefferies Financial Group raised their target price on Regeneron Pharmaceuticals from $813.00 to $831.00 and gave the company a "buy" rating in a research note on Wednesday, August 27th. Three analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $757.91.

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.

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