Royal Bank of Canada Raises Stock Position in Sanofi $SNY

Key Points

• Royal Bank of Canada has increased its stake in Sanofi by 1.7%, acquiring an additional 40,213 shares, bringing its total ownership to approximately 2.43 million shares valued at $134.9 million.
• Several institutional investors have also boosted their holdings in Sanofi, including Eastern Bank, which increased its stake by 121%, and Golden State Wealth Management LLC, which raised its stake by a staggering 619.3%.
• Sanofi has received multiple upgrades from analysts, including a "buy" rating from Wall Street Zen and Deutsche Bank, contributing to a consensus rating of "Buy" and an average price target of $62.00.

Royal Bank of Canada lifted its holdings in shares of Sanofi (NASDAQ:SNY - Free Report) by 1.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,432,701 shares of the company's stock after purchasing an additional 40,213 shares during the period. Royal Bank of Canada owned 0.10% of Sanofi worth $134,916,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Nuveen LLC acquired a new position in Sanofi during the 1st quarter worth approximately $177,831,000. Federated Hermes Inc. raised its stake in Sanofi by 58.5% during the 1st quarter. Federated Hermes Inc. now owns 3,947,583 shares of the company's stock worth $218,933,000 after buying an additional 1,456,269 shares during the period. OLD Mission Capital LLC acquired a new position in Sanofi during the 1st quarter worth approximately $48,938,000. Point72 Asset Management L.P. raised its stake in Sanofi by 969.6% during the 4th quarter. Point72 Asset Management L.P. now owns 950,649 shares of the company's stock worth $45,850,000 after buying an additional 861,770 shares during the period. Finally, Vestal Point Capital LP raised its stake in Sanofi by 400.0% during the 4th quarter. Vestal Point Capital LP now owns 750,000 shares of the company's stock worth $36,172,000 after buying an additional 600,000 shares during the period. Institutional investors own 14.04% of the company's stock.

Sanofi Trading Up 2.6%

Shares of NASDAQ:SNY traded up $1.17 during trading on Friday, reaching $46.50. The company's stock had a trading volume of 7,259,330 shares, compared to its average volume of 2,348,687. The company has a current ratio of 1.27, a quick ratio of 0.94 and a debt-to-equity ratio of 0.19. Sanofi has a 12 month low of $44.73 and a 12 month high of $60.12. The firm's 50 day simple moving average is $48.81 and its two-hundred day simple moving average is $51.38. The stock has a market capitalization of $114.18 billion, a PE ratio of 11.18, a price-to-earnings-growth ratio of 1.10 and a beta of 0.51.

Sanofi (NASDAQ:SNY - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The company reported $0.90 EPS for the quarter, missing analysts' consensus estimates of $0.96 by ($0.06). Sanofi had a net margin of 21.47% and a return on equity of 16.86%. The business had revenue of $11.34 billion during the quarter, compared to the consensus estimate of $9.91 billion. During the same period in the previous year, the business posted $1.73 EPS. The firm's revenue was down 7.0% on a year-over-year basis. On average, research analysts predict that Sanofi will post 4.36 EPS for the current fiscal year.

Wall Street Analyst Weigh In

SNY has been the topic of a number of research reports. Guggenheim reaffirmed a "buy" rating on shares of Sanofi in a research note on Tuesday, June 3rd. JPMorgan Chase & Co. raised Sanofi from a "neutral" rating to an "overweight" rating in a research report on Friday, August 8th. Barclays reaffirmed an "overweight" rating on shares of Sanofi in a research report on Wednesday, July 2nd. Morgan Stanley set a $56.00 price objective on Sanofi in a report on Monday, June 2nd. Finally, Wall Street Zen raised Sanofi from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Three investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, Sanofi currently has an average rating of "Buy" and an average price target of $62.00.

About Sanofi

Sanofi, a healthcare company, engages in the research, development, manufacture, and marketing of therapeutic solutions in the United States, Europe, Canada, and internationally. It operates through Pharmaceuticals, Vaccines, and Consumer Healthcare segments. The company provides specialty care, such as DUPIXENT, neurology and immunology, rare diseases, oncology, and rare blood disorders; medicines for diabetes and cardiovascular diseases; and established prescription products.