Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) Position Lessened by TD Asset Management Inc

Key Points

• TD Asset Management Inc sold 7,502 shares of Regeneron Pharmaceuticals, reducing its holdings by 2.1%, and now owns 351,887 shares valued at approximately $223 million.
• Regeneron Pharmaceuticals reported earnings of $8.22 per share, missing estimates by $0.61, with a revenue of $3.03 billion, down 3.7% from the previous year.
• Analysts are generally bullish on Regeneron, with a consensus rating of "Moderate Buy" and a target price of $837.61, despite several brokerages lowering their price targets.

TD Asset Management Inc decreased its holdings in Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN - Free Report) by 2.1% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 351,887 shares of the biopharmaceutical company's stock after selling 7,502 shares during the quarter. TD Asset Management Inc owned 0.32% of Regeneron Pharmaceuticals worth $223,177,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Brighton Jones LLC grew its holdings in shares of Regeneron Pharmaceuticals by 261.8% during the 4th quarter. Brighton Jones LLC now owns 948 shares of the biopharmaceutical company's stock worth $675,000 after purchasing an additional 686 shares during the period. Proficio Capital Partners LLC raised its holdings in Regeneron Pharmaceuticals by 30.5% during the fourth quarter. Proficio Capital Partners LLC now owns 308 shares of the biopharmaceutical company's stock worth $219,000 after purchasing an additional 72 shares during the last quarter. American Assets Inc. acquired a new position in Regeneron Pharmaceuticals during the fourth quarter worth $427,000. Quantbot Technologies LP raised its holdings in Regeneron Pharmaceuticals by 266.7% during the fourth quarter. Quantbot Technologies LP now owns 528 shares of the biopharmaceutical company's stock worth $376,000 after purchasing an additional 384 shares during the last quarter. Finally, EntryPoint Capital LLC acquired a new position in shares of Regeneron Pharmaceuticals in the fourth quarter worth $330,000. 83.31% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

REGN has been the subject of a number of analyst reports. UBS Group boosted their price target on Regeneron Pharmaceuticals from $560.00 to $584.00 and gave the stock a "neutral" rating in a report on Friday, July 11th. Wall Street Zen cut Regeneron Pharmaceuticals from a "buy" rating to a "hold" rating in a report on Thursday, May 1st. Royal Bank Of Canada lowered Regeneron Pharmaceuticals from a "moderate buy" rating to a "hold" rating and set a $662.00 target price for the company. in a research note on Friday, May 30th. Morgan Stanley dropped their target price on Regeneron Pharmaceuticals from $755.00 to $754.00 and set an "overweight" rating for the company in a research note on Thursday, July 10th. Finally, Truist Financial dropped their target price on Regeneron Pharmaceuticals from $975.00 to $940.00 and set a "buy" rating for the company in a research note on Wednesday, April 30th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $837.61.

Regeneron Pharmaceuticals Price Performance

Shares of REGN traded up $2.35 during trading hours on Wednesday, hitting $560.50. 203,812 shares of the company were exchanged, compared to its average volume of 1,111,524. The company has a market capitalization of $60.51 billion, a PE ratio of 14.27, a PEG ratio of 2.10 and a beta of 0.33. The company has a debt-to-equity ratio of 0.09, a current ratio of 4.93 and a quick ratio of 4.03. The firm has a fifty day simple moving average of $540.67 and a 200-day simple moving average of $606.53. Regeneron Pharmaceuticals, Inc. has a one year low of $476.49 and a one year high of $1,211.20.

Regeneron Pharmaceuticals (NASDAQ:REGN - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The biopharmaceutical company reported $8.22 earnings per share for the quarter, missing the consensus estimate of $8.83 by ($0.61). The company had revenue of $3.03 billion for the quarter, compared to the consensus estimate of $3.40 billion. Regeneron Pharmaceuticals had a return on equity of 15.27% and a net margin of 31.94%. The business's revenue was down 3.7% compared to the same quarter last year. During the same period in the prior year, the business earned $9.55 earnings per share. As a group, sell-side analysts predict that Regeneron Pharmaceuticals, Inc. will post 35.92 earnings per share for the current year.

Regeneron Pharmaceuticals Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Tuesday, May 20th were issued a $0.88 dividend. The ex-dividend date was Tuesday, May 20th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 0.63%. Regeneron Pharmaceuticals's payout ratio is currently 8.96%.

Regeneron Pharmaceuticals 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.