State of New Jersey Common Pension Fund D Sells 3,571 Shares of Regeneron Pharmaceuticals, Inc. $REGN

Key Points

• The State of New Jersey Common Pension Fund D reduced its stake in Regeneron Pharmaceuticals by 9.0% during the first quarter, holding 36,246 shares valued at approximately $22.99 million after selling 3,571 shares.
• Despite this reduction, other hedge funds, like GAMMA Investing LLC, significantly increased their stakes, with GAMMA raising its holdings by 89,825.0% to own 815,620 shares valued at $517.29 million.
• Regeneron recently reported quarterly earnings of $12.89 per share, exceeding projections and indicating a 3.6% increase in revenue year-over-year, with analysts forecasting an average of 35.92 earnings per share for the current year.

State of New Jersey Common Pension Fund D lowered its stake in Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN - Free Report) by 9.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 36,246 shares of the biopharmaceutical company's stock after selling 3,571 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in Regeneron Pharmaceuticals were worth $22,988,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Oak Grove Capital LLC boosted its stake in Regeneron Pharmaceuticals by 3.4% during the first quarter. Oak Grove Capital LLC now owns 3,030 shares of the biopharmaceutical company's stock valued at $1,922,000 after buying an additional 100 shares in the last quarter. American Century Companies Inc. boosted its holdings in Regeneron Pharmaceuticals by 2.1% during the first quarter. American Century Companies Inc. now owns 722,467 shares of the biopharmaceutical company's stock worth $458,211,000 after buying an additional 14,921 shares in the last quarter. Element Capital Management LLC bought a new position in shares of Regeneron Pharmaceuticals in the first quarter valued at $2,705,000. Aberdeen Group plc lifted its position in shares of Regeneron Pharmaceuticals by 30.1% during the 1st quarter. Aberdeen Group plc now owns 245,197 shares of the biopharmaceutical company's stock valued at $155,647,000 after acquiring an additional 56,746 shares during the last quarter. Finally, Horizon Investments LLC boosted its stake in shares of Regeneron Pharmaceuticals by 3.7% during the 1st quarter. Horizon Investments LLC now owns 1,634 shares of the biopharmaceutical company's stock worth $1,036,000 after acquiring an additional 59 shares in the last quarter. 83.31% of the stock is currently owned by institutional investors and hedge funds.

Regeneron Pharmaceuticals Price Performance

Shares of REGN stock traded down $2.13 during mid-day trading on Tuesday, reaching $571.78. The company's stock had a trading volume of 854,560 shares, compared to its average volume of 1,109,174. The company has a debt-to-equity ratio of 0.09, a quick ratio of 3.72 and a current ratio of 4.60. The firm's 50-day moving average is $545.33 and its two-hundred day moving average is $593.59. Regeneron Pharmaceuticals, Inc. has a 1-year low of $476.49 and a 1-year high of $1,211.20. The company has a market cap of $60.60 billion, a P/E ratio of 14.41, a PEG ratio of 1.93 and a beta of 0.33.

Regeneron Pharmaceuticals (NASDAQ:REGN - Get Free Report) last posted its earnings results on Friday, August 1st. The biopharmaceutical company reported $12.89 earnings per share for the quarter, beating analysts' consensus estimates of $8.43 by $4.46. The business 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 firm's revenue for the quarter was up 3.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $11.56 earnings per share. On average, research analysts predict that Regeneron Pharmaceuticals, Inc. will post 35.92 earnings per share for the current year.

Regeneron Pharmaceuticals Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 3rd. Investors of record on Monday, August 18th will be issued a dividend of $0.88 per share. 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 (DPR) is currently 8.87%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Guggenheim raised their target price on shares of Regeneron Pharmaceuticals from $810.00 to $815.00 and gave the stock a "buy" rating in a report on Friday, August 1st. UBS Group reiterated a "neutral" rating on shares of Regeneron Pharmaceuticals in a report on Friday, August 1st. Robert W. Baird reduced their price objective on Regeneron Pharmaceuticals from $759.00 to $652.00 and set a "neutral" rating for the company in a research note on Friday, April 25th. JPMorgan Chase & Co. lowered their target price on Regeneron Pharmaceuticals from $950.00 to $800.00 and set an "overweight" rating on the stock in a research note on Monday, June 9th. Finally, BMO Capital Markets increased their price target on shares of Regeneron Pharmaceuticals from $600.00 to $640.00 and gave the stock an "outperform" rating in a research report on Monday, August 4th. Three analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $829.65.

Regeneron Pharmaceuticals Company Profile

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.