Sanofi (NASDAQ:SNY) Sees Strong Trading Volume - What's Next?

Key Points

• Sanofi experienced a notable increase in trading volume with approximately 2.66 million shares traded, closing at $45.63, a rise from the previous day's closing of $45.07.
• Multiple analysts have upgraded Sanofi's stock ratings recently, with JPMorgan raising it to "overweight" and an average price target of $62.67, indicating positive market sentiment.
• Sanofi reported $11.34 billion in quarterly revenue, exceeding analyst estimates, although it faced a 7% decline year-over-year in revenue.

Sanofi (NASDAQ:SNY - Get Free Report) saw unusually-high trading volume on Friday . Approximately 2,662,199 shares changed hands during trading, an increase of 1% from the previous session's volume of 2,622,906 shares.The stock last traded at $45.63 and had previously closed at $45.07.

Wall Street Analyst Weigh In

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

Sanofi Trading Up 1.1%

The stock has a market cap of $111.90 billion, a P/E ratio of 10.96, a PEG ratio of 1.09 and a beta of 0.51. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.27 and a quick ratio of 0.94. The business's 50 day simple moving average is $48.32 and its 200 day simple moving average is $50.51.

Sanofi (NASDAQ:SNY - Get Free Report) last issued 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 during the quarter, compared to analyst estimates of $9.91 billion. During the same period in the prior year, the business earned $1.73 EPS. The business's revenue for the quarter was down 7.0% on a year-over-year basis. On average, analysts expect that Sanofi will post 4.36 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sanofi

A number of institutional investors and hedge funds have recently modified their holdings of the company. Ameritas Advisory Services LLC acquired a new position in shares of Sanofi during the 2nd quarter worth approximately $28,000. Accent Capital Management LLC bought a new position in Sanofi in the 1st quarter valued at approximately $29,000. Eastern Bank lifted its stake in Sanofi by 121.0% in the 1st quarter. Eastern Bank now owns 548 shares of the company's stock valued at $30,000 after purchasing an additional 300 shares during the last quarter. Banque Transatlantique SA bought a new position in Sanofi in the 1st quarter valued at approximately $33,000. Finally, Golden State Wealth Management LLC lifted its stake in Sanofi by 619.3% in the 1st 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. 14.04% of the stock is owned by institutional investors.

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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