State Street Corp Increases Holdings in Regeneron Pharmaceuticals, Inc. $REGN

Key Points

• State Street increased its Regeneron stake by 3.6% in the second quarter, adding 170,210 shares to own 4.83 million shares worth approximately $3.01 billion. Institutional investors collectively hold 83.31% of REGN.
• Regeneron exceeded quarterly expectations, reporting $14.29 in EPS versus the $10.16 consensus and $4.29 billion in revenue, up 16.7% year over year.
• The stock carries a “Moderate Buy” consensus rating with an average analyst target of $802.18, while the company pays a quarterly dividend of $0.94, representing a 0.5% yield.

State Street Corp increased its holdings in shares of Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN - Free Report) by 3.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,834,688 shares of the biopharmaceutical company's stock after purchasing an additional 170,210 shares during the quarter. State Street Corp owned approximately 4.70% of Regeneron Pharmaceuticals worth $3,014,621,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in REGN. Orbimed Advisors LLC bought a new stake in Regeneron Pharmaceuticals during the first quarter worth approximately $11,358,000. BlackRock Inc. purchased a new position in shares of Regeneron Pharmaceuticals in the 2nd quarter worth approximately $5,682,636,000. National Pension Service increased its position in shares of Regeneron Pharmaceuticals by 29.8% during the 4th quarter. National Pension Service now owns 360,988 shares of the biopharmaceutical company's stock valued at $278,636,000 after purchasing an additional 82,853 shares during the last quarter. Eurizon Capital SGR S.p.A. purchased a new stake in Regeneron Pharmaceuticals during the 4th quarter valued at $10,472,000. Finally, Contravisory Investment Management Inc. bought a new stake in Regeneron Pharmaceuticals in the second quarter worth $6,327,000. Institutional investors own 83.31% of the company's stock.

Insider Buying and Selling at Regeneron Pharmaceuticals

In other Regeneron Pharmaceuticals news, Director Huda Zoghbi sold 800 shares of the stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $800.00, for a total transaction of $640,000.00. Following the sale, the director directly owned 1,703 shares of the company's stock, valued at approximately $1,362,400. This trade represents a 31.96% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Arthur Ryan sold 200 shares of the firm's stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $650.15, for a total value of $130,030.00. Following the sale, the director directly owned 17,303 shares in the company, valued at approximately $11,249,545.45. This trade represents a 1.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 4,146 shares of company stock worth $3,432,488. 6.97% of the stock is currently owned by company insiders.

Regeneron Pharmaceuticals Trading Up 0.7%

NASDAQ:REGN opened at $803.90 on Wednesday. The firm has a 50-day simple moving average of $772.49 and a 200-day simple moving average of $720.57. Regeneron Pharmaceuticals, Inc. has a one year low of $541.00 and a one year high of $859.34. The firm has a market cap of $82.77 billion, a P/E ratio of 19.87, a P/E/G ratio of 1.56 and a beta of 0.20. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.78 and a current ratio of 3.34.

Regeneron Pharmaceuticals (NASDAQ:REGN - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The biopharmaceutical company reported $14.29 earnings per share for the quarter, beating analysts' consensus estimates of $10.16 by $4.13. The business had revenue of $4.29 billion for the quarter, compared to analysts' expectations of $3.82 billion. Regeneron Pharmaceuticals had a net margin of 27.86% and a return on equity of 13.47%. The company's revenue was up 16.7% compared to the same quarter last year. During the same period last year, the business earned $12.81 EPS. Equities analysts anticipate that Regeneron Pharmaceuticals, Inc. will post 44.25 EPS for the current fiscal year.

Regeneron Pharmaceuticals Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Tuesday, August 18th were paid a $0.94 dividend. The ex-dividend date was Tuesday, August 18th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.5%. Regeneron Pharmaceuticals's dividend payout ratio is presently 9.29%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Morgan Stanley increased their target price on shares of Regeneron Pharmaceuticals from $730.00 to $758.00 and gave the company an "equal weight" rating in a research note on Friday, July 31st. Leerink Partners lifted their price target on shares of Regeneron Pharmaceuticals from $641.00 to $824.00 and gave the stock a "market perform" rating in a research note on Monday, August 17th. Royal Bank Of Canada upped their price target on shares of Regeneron Pharmaceuticals from $696.00 to $737.00 and gave the company a "sector perform" rating in a report on Friday, July 31st. Piper Sandler reduced their price objective on shares of Regeneron Pharmaceuticals from $855.00 to $854.00 and set an "overweight" rating on the stock in a research report on Thursday, July 9th. Finally, Benchmark raised shares of Regeneron Pharmaceuticals from a "hold" rating to a "buy" rating and set a $185.00 price objective for the company in a research note on Tuesday, July 7th. Fourteen analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat.com, Regeneron Pharmaceuticals presently has an average rating of "Moderate Buy" and a consensus target price of $802.18.

About Regeneron Pharmaceuticals

Regeneron Pharmaceuticals, Inc is a biotechnology company that discovers, develops and commercializes medicines for serious medical conditions. The company uses technologies involving genetics, antibodies and other biologic treatments to advance therapies in areas such as eye diseases, allergic and inflammatory conditions, cancer, cardiovascular disease and rare disorders.

Regeneron's marketed medicines include EYLEA and EYLEA HD for retinal diseases, Libtayo for certain cancers, Praluent for cardiovascular disease, Evkeeza for homozygous familial hypercholesterolemia and Veopoz for a rare immune disorder.

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