Regeneron Pharmaceuticals, Inc. $REGN Shares Sold by Sovran Advisors LLC

Key Points

• Sovran Advisors LLC cut its Regeneron position by 30.2% in the first quarter, selling 2,600 shares and leaving it with 6,019 shares worth about $4.26 million.
• Other institutional investors have been active in REGN, with several firms adding large stakes; overall, 83.31% of the stock is owned by institutional investors and hedge funds.
• Analysts remain generally positive despite some target-price cuts, with Regeneron carrying a Moderate Buy consensus and a $787.67 average price target, while the company recently beat quarterly EPS and revenue estimates.

Sovran Advisors LLC reduced its position in Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN - Free Report) by 30.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,019 shares of the biopharmaceutical company's stock after selling 2,600 shares during the quarter. Sovran Advisors LLC's holdings in Regeneron Pharmaceuticals were worth $4,256,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Norges Bank acquired a new stake in shares of Regeneron Pharmaceuticals in the 4th quarter worth $1,012,296,000. Price T Rowe Associates Inc. MD increased its position in Regeneron Pharmaceuticals by 142.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,949,797 shares of the biopharmaceutical company's stock valued at $1,504,991,000 after buying an additional 1,144,887 shares in the last quarter. Nuveen LLC increased its position in Regeneron Pharmaceuticals by 71.1% during the 4th quarter. Nuveen LLC now owns 2,010,517 shares of the biopharmaceutical company's stock valued at $1,551,858,000 after buying an additional 835,240 shares in the last quarter. Dodge & Cox raised its stake in Regeneron Pharmaceuticals by 18.9% in the third quarter. Dodge & Cox now owns 4,550,845 shares of the biopharmaceutical company's stock valued at $2,558,804,000 after buying an additional 724,562 shares during the last quarter. Finally, Wellington Management Group LLP raised its stake in Regeneron Pharmaceuticals by 8,620.0% in the fourth quarter. Wellington Management Group LLP now owns 664,465 shares of the biopharmaceutical company's stock valued at $512,881,000 after buying an additional 656,845 shares during the last quarter. 83.31% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on REGN. Piper Sandler dropped their price target on Regeneron Pharmaceuticals from $855.00 to $854.00 and set an "overweight" rating on the stock in a research note on Thursday. Guggenheim lifted their target price on shares of Regeneron Pharmaceuticals from $975.00 to $995.00 and gave the stock a "buy" rating in a research note on Friday, May 1st. HSBC lowered their target price on shares of Regeneron Pharmaceuticals from $990.00 to $880.00 and set a "buy" rating for the company in a research note on Monday, July 6th. Royal Bank Of Canada cut their price target on shares of Regeneron Pharmaceuticals from $707.00 to $696.00 and set a "sector perform" rating on the stock in a research note on Tuesday, July 7th. Finally, Wells Fargo & Company decreased their price target on shares of Regeneron Pharmaceuticals from $800.00 to $700.00 and set an "equal weight" rating for the company in a report on Monday, May 18th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and nine have given a Hold rating to the company's stock. Based on data from MarketBeat, Regeneron Pharmaceuticals currently has an average rating of "Moderate Buy" and a consensus price target of $787.67.

Insider Buying and Selling

In other Regeneron Pharmaceuticals news, Director Arthur F. Ryan sold 200 shares of Regeneron Pharmaceuticals stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $650.15, for a total transaction of $130,030.00. Following the completion of the sale, the director directly owned 17,303 shares in the company, valued at approximately $11,249,545.45. The trade was a 1.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 6.97% of the company's stock.

Regeneron Pharmaceuticals Stock Performance

Shares of REGN stock traded down $3.43 during mid-day trading on Friday, reaching $664.52. The stock had a trading volume of 581,733 shares, compared to its average volume of 946,751. The business's fifty day moving average is $645.30 and its 200-day moving average is $722.39. The company has a current ratio of 3.57, a quick ratio of 2.96 and a debt-to-equity ratio of 0.06. The firm has a market cap of $70.25 billion, a price-to-earnings ratio of 16.19, a PEG ratio of 1.46 and a beta of 0.24. Regeneron Pharmaceuticals, Inc. has a 1-year low of $541.00 and a 1-year high of $821.11.

Regeneron Pharmaceuticals (NASDAQ:REGN - Get Free Report) last released its earnings results 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 return on equity of 13.16% and a net margin of 29.65%.The company's revenue was up 19.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $8.22 earnings per share. On average, research analysts forecast that Regeneron Pharmaceuticals, Inc. will post 37.23 earnings per share for the current year.

Regeneron Pharmaceuticals Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Wednesday, May 20th were given a dividend of $0.94 per share. The ex-dividend date of this dividend was Wednesday, May 20th. This represents a $3.76 dividend on an annualized basis and a yield of 0.6%. Regeneron Pharmaceuticals's dividend payout ratio (DPR) 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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