The Manufacturers Life Insurance Company Lowers Position in Sanofi $SNY

Key Points

• The Manufacturers Life Insurance Company cut its Sanofi stake by 58.9% in the first quarter, selling 33,713 shares and retaining 23,516 shares valued at approximately $1.13 million.
• Other institutional investors, including Assetmark, QRG Capital Management and Evergreen Capital Management, increased their positions or initiated new stakes; institutional investors collectively own 14.03% of Sanofi.
• Sanofi shares opened at $43.56, below the analyst consensus target of $49.50. Analysts’ overall rating is “Hold,” with two Strong Buy, three Buy, nine Hold and one Sell rating.

The Manufacturers Life Insurance Company lessened its stake in shares of Sanofi (NASDAQ:SNY - Free Report) by 58.9% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 23,516 shares of the company's stock after selling 33,713 shares during the period. The Manufacturers Life Insurance Company's holdings in Sanofi were worth $1,133,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Benson Investment Management Company Inc. purchased a new stake in Sanofi in the 4th quarter worth approximately $5,424,000. Assetmark Inc. boosted its position in shares of Sanofi by 24.2% in the fourth quarter. Assetmark Inc. now owns 443,668 shares of the company's stock worth $21,500,000 after purchasing an additional 86,496 shares during the period. QRG Capital Management Inc. boosted its position in shares of Sanofi by 18.6% in the fourth quarter. QRG Capital Management Inc. now owns 111,465 shares of the company's stock worth $5,402,000 after purchasing an additional 17,511 shares during the period. AMG National Trust Bank purchased a new stake in shares of Sanofi in the first quarter worth $2,719,000. Finally, Evergreen Capital Management LLC raised its position in shares of Sanofi by 37.1% during the 4th quarter. Evergreen Capital Management LLC now owns 45,636 shares of the company's stock valued at $2,212,000 after purchasing an additional 12,347 shares during the period. Institutional investors own 14.03% of the company's stock.

Sanofi Stock Performance

SNY opened at $43.56 on Wednesday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.64 and a current ratio of 0.99. The stock has a market capitalization of $105.61 billion, a price-to-earnings ratio of 22.81, a PEG ratio of 1.08 and a beta of 0.35. The company has a fifty day moving average of $43.34 and a 200 day moving average of $45.01. Sanofi has a fifty-two week low of $40.89 and a fifty-two week high of $52.68.

Analyst Ratings Changes

SNY has been the topic of a number of analyst reports. Weiss Ratings cut shares of Sanofi from a "hold (c-)" rating to a "sell (d)" rating in a research note on Monday, August 3rd. Argus raised Sanofi to a "strong-buy" rating in a report on Monday, April 27th. BNP Paribas Exane downgraded Sanofi from an "outperform" rating to a "neutral" rating and set a $50.00 price objective on the stock. in a research report on Monday, April 20th. Morgan Stanley set a $49.00 target price on Sanofi in a research report on Wednesday, July 8th. Finally, Wall Street Zen downgraded Sanofi from a "buy" rating to a "hold" rating in a research note on Sunday. Two research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Sanofi has an average rating of "Hold" and an average target price of $49.50.

Sanofi Profile

Sanofi NASDAQ: SNY is a multinational pharmaceutical company headquartered in France that researches, develops, manufactures and markets prescription medicines, vaccines and consumer healthcare products. The company operates across multiple therapeutic areas, including immunology, rare diseases, oncology, cardiovascular and metabolic diseases, and vaccines through its Sanofi Pasteur division. Sanofi sells products to hospitals, clinics, governments and retail pharmacies, with a broad global footprint and significant presence in Europe, North America and emerging markets.

Key commercial offerings include specialty biologics and established small-molecule medicines.

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