Resona Asset Management Co. Ltd. Boosts Stake in Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN)

Key Points

• Resona Asset Management Co. Ltd. increased its stake in Regeneron Pharmaceuticals by 3.3%, acquiring an additional 1,225 shares, bringing its total holdings to 38,436 shares valued at $24.39 million.
• Several institutional investors have also boosted their positions in Regeneron, with notable increases including 21.4% from Callan Family Office and 98.7% from Independent Advisor Alliance.
• Analysts have set various price targets for Regeneron, with a consensus rating of "Moderate Buy" and an average price target of $835.74.

Resona Asset Management Co. Ltd. increased its position in Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN - Free Report) by 3.3% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 38,436 shares of the biopharmaceutical company's stock after buying an additional 1,225 shares during the period. Resona Asset Management Co. Ltd.'s holdings in Regeneron Pharmaceuticals were worth $24,393,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of REGN. Pinney & Scofield Inc. bought a new position in Regeneron Pharmaceuticals in the 4th quarter worth $25,000. E Fund Management Hong Kong Co. Ltd. boosted its holdings in Regeneron Pharmaceuticals by 344.4% in the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 40 shares of the biopharmaceutical company's stock worth $25,000 after buying an additional 31 shares during the period. Costello Asset Management INC bought a new position in Regeneron Pharmaceuticals in the 1st quarter worth $27,000. Tompkins Financial Corp bought a new position in Regeneron Pharmaceuticals in the 1st quarter worth $32,000. Finally, Curat Global LLC bought a new position in Regeneron Pharmaceuticals in the 1st quarter worth $32,000. Institutional investors own 83.31% of the company's stock.

Regeneron Pharmaceuticals Price Performance

Shares of NASDAQ REGN traded up $4.42 during mid-day trading on Thursday, hitting $565.97. 975,056 shares of the company's stock traded hands, compared to its average volume of 986,507. The company's 50-day moving average is $542.46 and its two-hundred day moving average is $596.26. The company has a debt-to-equity ratio of 0.09, a current ratio of 4.60 and a quick ratio of 3.72. The company has a market capitalization of $59.99 billion, a P/E ratio of 14.26, a PEG ratio of 1.90 and a beta of 0.33. Regeneron Pharmaceuticals, Inc. has a 1 year low of $476.49 and a 1 year high of $1,211.20.

Regeneron Pharmaceuticals (NASDAQ:REGN - Get Free Report) last announced its earnings results on Friday, August 1st. The biopharmaceutical company reported $12.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.43 by $4.46. The firm had revenue of $3,675,600 billion for the quarter, compared to analysts' expectations of $3.30 billion. Regeneron Pharmaceuticals had a net margin of 31.37% and a return on equity of 15.06%. The business's revenue was up 3.6% compared to the same quarter last year. During the same period in the prior year, the company earned $11.56 EPS. On average, 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 disclosed a quarterly dividend, which will be paid on Wednesday, September 3rd. Investors of record on Monday, August 18th will be given a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Monday, August 18th. Regeneron Pharmaceuticals's dividend payout ratio is 8.87%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on REGN. Canaccord Genuity Group reaffirmed a "buy" rating and issued a $850.00 target price on shares of Regeneron Pharmaceuticals in a report on Wednesday, July 23rd. Cantor Fitzgerald started coverage on shares of Regeneron Pharmaceuticals in a research note on Tuesday, April 22nd. They issued an "overweight" rating and a $695.00 price target on the stock. Morgan Stanley reiterated an "overweight" rating and issued a $761.00 price target (up previously from $754.00) on shares of Regeneron Pharmaceuticals in a research note on Friday, August 1st. Citigroup reiterated a "buy" rating and issued a $650.00 price target on shares of Regeneron Pharmaceuticals in a research note on Friday, August 1st. Finally, Truist Financial decreased their price target on shares of Regeneron Pharmaceuticals from $940.00 to $812.00 and set a "buy" rating on the stock in a research note on Monday. One research analyst has rated the stock with a sell rating, seven have given a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Regeneron Pharmaceuticals presently has a consensus rating of "Moderate Buy" and a consensus price target of $838.00.

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.