Sanofi $SNY Position Lessened by Envestnet Portfolio Solutions Inc.

Key Points

• Envestnet Portfolio Solutions Inc. has reduced its stake in Sanofi by 7.7%, now holding approximately 80,069 shares valued at $3.87 million as of the latest SEC filing.
• Sanofi's recent earnings report showed an EPS of $0.90, which was below analysts' expectations of $0.96, while revenue came in at $11.34 billion, significantly exceeding the estimated $9.91 billion.
• Analyst ratings for Sanofi are generally positive, with Morgan Stanley upgrading the stock to "overweight" and raising its target price to $58.00, while the average target price is currently $62.67.

Envestnet Portfolio Solutions Inc. decreased its stake in Sanofi (NASDAQ:SNY - Free Report) by 7.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 80,069 shares of the company's stock after selling 6,641 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Sanofi were worth $3,868,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in SNY. Nuveen LLC bought a new stake in shares of Sanofi in the 1st quarter worth approximately $177,831,000. Federated Hermes Inc. lifted its holdings in shares of Sanofi by 58.5% in the 1st quarter. Federated Hermes Inc. now owns 3,947,583 shares of the company's stock worth $218,933,000 after purchasing an additional 1,456,269 shares during the last quarter. OLD Mission Capital LLC bought a new stake in Sanofi during the 1st quarter valued at $48,938,000. Raymond James Financial Inc. raised its stake in Sanofi by 15.1% during the 1st quarter. Raymond James Financial Inc. now owns 3,244,027 shares of the company's stock valued at $179,914,000 after acquiring an additional 425,597 shares in the last quarter. Finally, LPL Financial LLC raised its stake in Sanofi by 18.4% during the 1st quarter. LPL Financial LLC now owns 1,520,721 shares of the company's stock valued at $84,339,000 after acquiring an additional 236,625 shares in the last quarter. Institutional investors own 14.04% of the company's stock.

Sanofi Stock Performance

Shares of NASDAQ SNY opened at $48.96 on Thursday. The company has a quick ratio of 0.94, a current ratio of 1.27 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $120.22 billion, a price-to-earnings ratio of 11.77, a PEG ratio of 1.20 and a beta of 0.51. The stock's fifty day simple moving average is $48.37 and its 200 day simple moving average is $49.69. Sanofi has a 52-week low of $44.62 and a 52-week high of $60.12.

Sanofi (NASDAQ:SNY - Get Free Report) last issued its earnings results on Thursday, July 31st. The company reported $0.90 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.96 by ($0.06). The company had revenue of $11.34 billion during the quarter, compared to analyst estimates of $9.91 billion. Sanofi had a return on equity of 16.86% and a net margin of 21.47%.The business's revenue was down 7.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.73 earnings per share. As a group, sell-side analysts forecast that Sanofi will post 4.36 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have weighed in on SNY shares. Morgan Stanley raised Sanofi from an "equal weight" rating to an "overweight" rating and lifted their target price for the company from $56.00 to $58.00 in a research note on Monday, September 8th. Barclays reaffirmed an "overweight" rating on shares of Sanofi in a research note on Wednesday, July 2nd. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Sanofi in a research note on Wednesday, October 8th. Wall Street Zen raised Sanofi from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft raised Sanofi from a "hold" rating to a "buy" rating in a research note on Tuesday, September 2nd. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $62.67.

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.

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