ICONIQ Capital LLC Boosts Holdings in Sanofi $SNY

Key Points

• ICONIQ Capital LLC increased its stake in Sanofi by 44.6%, owning 17,173 shares valued at approximately $952,000 by the end of the first quarter.
• Sanofi's stock received several upgrades from analysts, with HSBC upgrading it to a "strong-buy" and a consensus target price currently at $62.00.
• Despite reporting earnings per share (EPS) of $0.90 for the last quarter, Sanofi missed analysts' expectations by $0.06, though its revenue surpassed forecasts with $11.34 billion.

ICONIQ Capital LLC increased its holdings in Sanofi (NASDAQ:SNY - Free Report) by 44.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,173 shares of the company's stock after acquiring an additional 5,298 shares during the quarter. ICONIQ Capital LLC's holdings in Sanofi were worth $952,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SNY. Cardinal Capital Management raised its position in shares of Sanofi by 0.3% in the 1st quarter. Cardinal Capital Management now owns 69,004 shares of the company's stock worth $3,827,000 after purchasing an additional 199 shares during the last quarter. Gradient Investments LLC raised its position in shares of Sanofi by 2.1% in the 1st quarter. Gradient Investments LLC now owns 9,764 shares of the company's stock worth $542,000 after purchasing an additional 200 shares during the last quarter. Perigon Wealth Management LLC raised its position in shares of Sanofi by 3.1% in the 1st quarter. Perigon Wealth Management LLC now owns 6,618 shares of the company's stock worth $367,000 after purchasing an additional 201 shares during the last quarter. Capital Analysts LLC raised its position in shares of Sanofi by 14.0% in the 1st quarter. Capital Analysts LLC now owns 1,664 shares of the company's stock worth $92,000 after purchasing an additional 204 shares during the last quarter. Finally, Beacon Financial Group raised its position in shares of Sanofi by 1.6% in the 1st quarter. Beacon Financial Group now owns 14,398 shares of the company's stock worth $799,000 after purchasing an additional 222 shares during the last quarter. Hedge funds and other institutional investors own 14.04% of the company's stock.

Sanofi Stock Performance

Shares of Sanofi stock traded down $0.19 during trading hours on Wednesday, reaching $50.11. 2,044,486 shares of the stock traded hands, compared to its average volume of 2,698,749. The company has a 50 day moving average price of $48.68 and a 200 day moving average price of $51.67. The firm has a market capitalization of $123.05 billion, a price-to-earnings ratio of 12.24, a P/E/G ratio of 1.20 and a beta of 0.48. Sanofi has a one year low of $44.73 and a one year high of $60.12. The company has a quick ratio of 0.94, a current ratio of 1.27 and a debt-to-equity ratio of 0.19.

Sanofi (NASDAQ:SNY - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The company reported $0.90 earnings per share 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 company had revenue of $11.34 billion for the quarter, compared to analysts' expectations of $9.91 billion. During the same period in the previous year, the firm earned $1.73 earnings per share. The firm's quarterly revenue was down 7.0% on a year-over-year basis. On average, equities research analysts expect that Sanofi will post 4.36 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Morgan Stanley set a $56.00 price objective on Sanofi in a report on Monday, June 2nd. Guggenheim reiterated a "buy" rating on shares of Sanofi in a report on Tuesday, June 3rd. JPMorgan Chase & Co. upgraded Sanofi from a "neutral" rating to an "overweight" rating in a report on Friday, August 8th. Wall Street Zen upgraded Sanofi from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft reiterated a "hold" rating on shares of Sanofi in a report on Tuesday, August 5th. Three equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Sanofi currently has an average rating of "Buy" and a consensus target price of $62.00.

Sanofi Profile

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.