Sanofi $SNY Shares Sold by Armistice Capital LLC

Key Points

• Armistice Capital LLC reduced its stake in Sanofi by 58.0%, owning 524,000 shares valued at approximately $29 million after selling 724,000 shares in the first quarter.
• Sanofi received multiple upgrades from analysts, with JPMorgan upgrading to "overweight," and the stock currently has an average rating of "Buy" with a consensus price target of $62.00.
• Despite reporting a revenue of $11.34 billion, Sanofi missed earnings expectations with $0.90 earnings per share, which was below the consensus estimate of $0.96.

Armistice Capital LLC reduced its position in Sanofi (NASDAQ:SNY - Free Report) by 58.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 524,000 shares of the company's stock after selling 724,000 shares during the quarter. Armistice Capital LLC's holdings in Sanofi were worth $29,061,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Bank of America Corp DE raised its stake in Sanofi by 3.8% in the 4th quarter. Bank of America Corp DE now owns 12,017,140 shares of the company's stock valued at $579,587,000 after purchasing an additional 441,637 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Sanofi by 1.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,036,878 shares of the company's stock valued at $612,106,000 after buying an additional 193,196 shares in the last quarter. Federated Hermes Inc. grew its holdings in Sanofi by 58.5% in the 1st quarter. Federated Hermes Inc. now owns 3,947,583 shares of the company's stock valued at $218,933,000 after buying an additional 1,456,269 shares in the last quarter. Nuveen Asset Management LLC grew its holdings in Sanofi by 1.0% in the 4th quarter. Nuveen Asset Management LLC now owns 3,676,224 shares of the company's stock valued at $177,304,000 after buying an additional 34,660 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its holdings in Sanofi by 6.9% in the 1st quarter. Envestnet Asset Management Inc. now owns 3,277,394 shares of the company's stock valued at $181,764,000 after buying an additional 211,641 shares in the last quarter. 14.04% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SNY has been the subject of several analyst reports. 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. Barclays restated an "overweight" rating on shares of Sanofi in a report on Wednesday, July 2nd. Morgan Stanley set a $56.00 target price on Sanofi in a report on Monday, June 2nd. Finally, Guggenheim restated a "buy" rating on shares of Sanofi in a report on Tuesday, June 3rd. Three investment 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. Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $62.00.

Sanofi Stock Performance

NASDAQ SNY opened at $49.48 on Friday. The stock has a market cap of $121.50 billion, a PE ratio of 11.89, a P/E/G ratio of 1.18 and a beta of 0.48. 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 twelve month low of $44.73 and a twelve month high of $60.12. The stock has a fifty day simple moving average of $48.81 and a 200-day simple moving average of $51.59.

Sanofi (NASDAQ:SNY - Get Free Report) last released its quarterly earnings results 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). The business had revenue of $11.34 billion for the quarter, compared to analysts' expectations of $9.91 billion. Sanofi had a return on equity of 16.86% and a net margin of 21.47%.The business's revenue for the quarter was down 7.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.73 earnings per share. Equities analysts anticipate that Sanofi will post 4.36 earnings per share for the current year.

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.

Want to see what other hedge funds are holding SNY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sanofi (NASDAQ:SNY - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.