Sanofi $SNY Shares Sold by Zimmer Partners LP

Key Points

• Zimmer Partners LP reduced its stake in Sanofi by 25.9%, selling 126,700 shares during the first quarter, and now holds 361,600 shares worth approximately $20 million.
• Several hedge funds, including Price T Rowe Associates and Federated Hermes, have increased their investments in Sanofi, reflecting a broader trend of institutional investors modifying their positions in the stock.
• Sanofi's recent earnings report showed a miss on earnings per share, reporting $0.90 compared to an expected $0.96, but revenue exceeded estimates at $11.34 billion.

Zimmer Partners LP trimmed its holdings in Sanofi (NASDAQ:SNY - Free Report) by 25.9% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 361,600 shares of the company's stock after selling 126,700 shares during the period. Zimmer Partners LP's holdings in Sanofi were worth $20,054,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SNY. Accent Capital Management LLC purchased a new stake in Sanofi during the 1st quarter valued at about $29,000. Eastern Bank grew its position in shares of Sanofi by 121.0% in the first quarter. Eastern Bank now owns 548 shares of the company's stock valued at $30,000 after purchasing an additional 300 shares in the last quarter. Banque Transatlantique SA acquired a new stake in shares of Sanofi in the first quarter valued at approximately $33,000. Golden State Wealth Management LLC increased its holdings in shares of Sanofi by 619.3% in the first quarter. Golden State Wealth Management LLC now owns 633 shares of the company's stock valued at $35,000 after purchasing an additional 545 shares during the last quarter. Finally, Brentview Investment Management LLC purchased a new position in Sanofi during the first quarter worth approximately $42,000. 14.04% of the stock is currently owned by institutional investors and hedge funds.

Sanofi Trading Down 1.3%

NASDAQ SNY traded down $0.62 during trading hours on Friday, reaching $47.03. The company had a trading volume of 2,728,115 shares, compared to its average volume of 2,686,205. The company has a current ratio of 1.27, a quick ratio of 0.94 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $115.48 billion, a P/E ratio of 11.31, a price-to-earnings-growth ratio of 1.12 and a beta of 0.51. The stock has a 50-day moving average of $48.64 and a 200 day moving average of $51.11. Sanofi has a 1-year low of $44.73 and a 1-year high of $60.12.

Sanofi (NASDAQ:SNY - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The company reported $0.90 earnings per share for the quarter, missing analysts' consensus estimates of $0.96 by ($0.06). Sanofi had a net margin of 21.47% and a return on equity of 16.86%. The company had revenue of $11.34 billion for the quarter, compared to analyst estimates of $9.91 billion. During the same quarter in the prior year, the business earned $1.73 earnings per share. Sanofi's revenue was down 7.0% on a year-over-year basis. As a group, research analysts anticipate that Sanofi will post 4.36 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on SNY. Guggenheim restated a "buy" rating on shares of Sanofi in a report on Tuesday, June 3rd. Wall Street Zen raised shares of Sanofi from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. JPMorgan Chase & Co. raised shares of Sanofi from a "neutral" rating to an "overweight" rating in a research note on Friday, August 8th. Barclays reiterated an "overweight" rating on shares of Sanofi in a report on Wednesday, July 2nd. Finally, Morgan Stanley upgraded shares of Sanofi from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $56.00 to $58.00 in a report on Monday, September 8th. Three analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $62.67.

Sanofi Profile

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.