Zurcher Kantonalbank Zurich Cantonalbank Lowers Stake in Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN)

Key Points

• Zurcher Kantonalbank has sold 42,590 shares of Regeneron Pharmaceuticals, reducing its stake by 30.4%, leaving it with approximately 97,368 shares valued at $61.8 million as of its latest SEC filing.
• Regeneron Pharmaceuticals reported a quarterly earnings miss of $8.22 per share, falling short of analysts' expectations of $8.83, alongside a revenue drop of 3.7% year-over-year.
• The stock currently has a consensus rating of "Moderate Buy" with a target price of $837.61, reflecting a mix of ratings from analysts, including one sell, seven holds, and sixteen buys.

Zurcher Kantonalbank Zurich Cantonalbank reduced its holdings in Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN - Free Report) by 30.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 97,368 shares of the biopharmaceutical company's stock after selling 42,590 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned 0.09% of Regeneron Pharmaceuticals worth $61,754,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. ARK Investment Management LLC increased its stake in Regeneron Pharmaceuticals by 3.8% in the 1st quarter. ARK Investment Management LLC now owns 13,694 shares of the biopharmaceutical company's stock valued at $8,685,000 after buying an additional 502 shares during the last quarter. Allium Financial Advisors LLC acquired a new stake in Regeneron Pharmaceuticals in the 1st quarter valued at $256,000. Integrated Investment Consultants LLC increased its stake in shares of Regeneron Pharmaceuticals by 46.8% during the 1st quarter. Integrated Investment Consultants LLC now owns 894 shares of the biopharmaceutical company's stock worth $567,000 after purchasing an additional 285 shares during the last quarter. Mediolanum International Funds Ltd increased its stake in shares of Regeneron Pharmaceuticals by 646.7% during the 1st quarter. Mediolanum International Funds Ltd now owns 33,220 shares of the biopharmaceutical company's stock worth $21,173,000 after purchasing an additional 28,771 shares during the last quarter. Finally, Pacer Advisors Inc. increased its stake in shares of Regeneron Pharmaceuticals by 2,296.9% during the 1st quarter. Pacer Advisors Inc. now owns 407,370 shares of the biopharmaceutical company's stock worth $258,366,000 after purchasing an additional 390,374 shares during the last quarter. 83.31% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on REGN. Cantor Fitzgerald began coverage on shares of Regeneron Pharmaceuticals in a research note on Tuesday, April 22nd. They set an "overweight" rating and a $695.00 price objective on the stock. Bank of America decreased their price target on shares of Regeneron Pharmaceuticals from $575.00 to $547.00 and set an "underperform" rating on the stock in a research note on Thursday, April 17th. Guggenheim reiterated a "buy" rating on shares of Regeneron Pharmaceuticals in a research note on Friday, May 30th. Argus lowered shares of Regeneron Pharmaceuticals from a "buy" rating to a "hold" rating in a research note on Monday, June 30th. Finally, Canaccord Genuity Group reiterated a "buy" rating and issued a $850.00 price target on shares of Regeneron Pharmaceuticals in a research note on Wednesday, July 23rd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $837.61.

Regeneron Pharmaceuticals Stock Performance

Shares of NASDAQ:REGN traded up $2.26 during trading on Wednesday, hitting $560.41. The company's stock had a trading volume of 203,812 shares, compared to its average volume of 1,111,524. The company has a 50-day moving average of $540.67 and a 200-day moving average of $606.53. Regeneron Pharmaceuticals, Inc. has a 12 month low of $476.49 and a 12 month high of $1,211.20. 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 market cap of $60.50 billion, a price-to-earnings ratio of 14.27, a P/E/G ratio of 2.10 and a beta of 0.33.

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

Regeneron Pharmaceuticals Dividend Announcement

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

Regeneron Pharmaceuticals Company 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.