The Manufacturers Life Insurance Company Has $17.56 Million Position in Sanofi $SNY

Key Points

• The Manufacturers Life Insurance Company has reduced its stake in Sanofi by 11.1%, now holding 316,385 shares worth approximately $17.56 million.
• Several hedge funds have recently increased or established new positions in Sanofi, showing a growing institutional interest in the company, with 14.04% of the stock currently owned by institutional investors.
• Sanofi's stock has an average rating of "Buy" from analysts, with a current price target of $62.00, following recent upgrades by various research firms.

The Manufacturers Life Insurance Company reduced its stake in Sanofi (NASDAQ:SNY - Free Report) by 11.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 316,385 shares of the company's stock after selling 39,673 shares during the period. The Manufacturers Life Insurance Company's holdings in Sanofi were worth $17,559,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Accent Capital Management LLC acquired a new stake in shares of Sanofi in the 1st quarter valued at approximately $29,000. Eastern Bank boosted its position in Sanofi by 121.0% during the 1st quarter. Eastern Bank now owns 548 shares of the company's stock worth $30,000 after buying an additional 300 shares during the period. Golden State Wealth Management LLC boosted its position in Sanofi by 619.3% during the 1st quarter. Golden State Wealth Management LLC now owns 633 shares of the company's stock worth $35,000 after buying an additional 545 shares during the period. Brentview Investment Management LLC acquired a new stake in Sanofi during the 1st quarter worth approximately $42,000. Finally, UMB Bank n.a. boosted its position in Sanofi by 30.7% during the 1st quarter. UMB Bank n.a. now owns 1,124 shares of the company's stock worth $62,000 after buying an additional 264 shares during the period. 14.04% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently commented on SNY. Deutsche Bank Aktiengesellschaft upgraded shares of Sanofi from a "hold" rating to a "buy" rating in a research report on Tuesday. Morgan Stanley set a $56.00 target price on shares of Sanofi in a research report on Monday, June 2nd. Wall Street Zen upgraded shares of Sanofi from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Guggenheim reiterated a "buy" rating on shares of Sanofi in a research report on Tuesday, June 3rd. Finally, Barclays restated an "overweight" rating on shares of Sanofi in a report on Wednesday, July 2nd. Three analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $62.00.

Sanofi Stock Up 0.2%

Sanofi stock opened at $49.58 on Wednesday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.94 and a current ratio of 1.27. Sanofi has a 52-week low of $44.73 and a 52-week high of $60.12. The firm has a 50 day moving average price of $48.85 and a two-hundred day moving average price of $51.52. The firm has a market cap of $121.74 billion, a price-to-earnings ratio of 11.92, a PEG ratio of 1.18 and a beta of 0.51.

Sanofi (NASDAQ:SNY - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.96 by ($0.06). Sanofi had a return on equity of 16.86% and a net margin of 21.47%.The firm had revenue of $11.34 billion for the quarter, compared to the consensus estimate of $9.91 billion. During the same quarter in the previous year, the business posted $1.73 EPS. The firm's revenue for the quarter was down 7.0% compared to the same quarter last year. Equities analysts predict that Sanofi will post 4.36 EPS 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.

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