Sanofi (NASDAQ:SNY) Short Interest Up 35.2% in August

Key Points

• Sanofi's short interest surged by 35.2% in August, reaching a total of 4,420,000 shares short sold.
• Wall Street analysts have a consensus rating of "Buy" for Sanofi, with a target price of $62.67, following upgrades from multiple firms.
• Despite reporting earnings per share of $0.90, Sanofi missed analysts' expectations by $0.06 while also experiencing a 7.0% decline in quarterly revenue year-over-year.

Sanofi (NASDAQ:SNY - Get Free Report) was the target of a significant increase in short interest in the month of August. As of August 15th, there was short interest totaling 4,420,000 shares, an increase of 35.2% from the July 31st total of 3,270,000 shares. Based on an average daily volume of 2,280,000 shares, the short-interest ratio is presently 1.9 days. Currently, 0.2% of the company's shares are short sold. Currently, 0.2% of the company's shares are short sold. Based on an average daily volume of 2,280,000 shares, the short-interest ratio is presently 1.9 days.

Sanofi Stock Down 1.3%

SNY stock traded down $0.62 during trading on Friday, reaching $47.03. 2,728,115 shares of the company traded hands, compared to its average volume of 2,650,921. Sanofi has a 12 month low of $44.73 and a 12 month high of $60.12. The business has a 50 day simple moving average of $48.64 and a 200 day simple moving average of $51.16. The company has a market capitalization of $115.48 billion, a price-to-earnings ratio of 11.31, a price-to-earnings-growth ratio of 1.13 and a beta of 0.51. 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 (NASDAQ:SNY - Get Free Report) last issued its quarterly earnings data 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 the consensus estimate of $9.91 billion. During the same period in the previous year, the business earned $1.73 EPS. Sanofi's revenue for the quarter was down 7.0% compared to the same quarter last year. On average, equities research analysts anticipate that Sanofi will post 4.36 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have weighed in on SNY. Barclays reiterated an "overweight" rating on shares of Sanofi in a research note on Wednesday, July 2nd. Deutsche Bank Aktiengesellschaft upgraded Sanofi from a "hold" rating to a "buy" rating in a research note on Tuesday, September 2nd. Guggenheim restated a "buy" rating on shares of Sanofi in a research note on Tuesday, June 3rd. JPMorgan Chase & Co. upgraded Sanofi from a "neutral" rating to an "overweight" rating in a research note on Friday, August 8th. Finally, Morgan Stanley upgraded Sanofi from an "equal weight" rating to an "overweight" rating and raised their price target for the company from $56.00 to $58.00 in a research note on Monday, September 8th. Three research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $62.67.

Institutional Investors Weigh In On Sanofi

Institutional investors have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Sanofi by 124.0% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 24,131 shares of the company's stock worth $1,344,000 after acquiring an additional 13,358 shares in the last quarter. Axxcess Wealth Management LLC boosted its holdings in Sanofi by 130.5% in the first quarter. Axxcess Wealth Management LLC now owns 10,234 shares of the company's stock worth $568,000 after acquiring an additional 5,794 shares in the last quarter. Ballentine Partners LLC boosted its holdings in Sanofi by 68.7% in the first quarter. Ballentine Partners LLC now owns 26,063 shares of the company's stock worth $1,445,000 after acquiring an additional 10,617 shares in the last quarter. Sowell Financial Services LLC acquired a new stake in Sanofi in the first quarter worth about $328,000. Finally, Farther Finance Advisors LLC lifted its holdings in shares of Sanofi by 66.2% during the first quarter. Farther Finance Advisors LLC now owns 6,215 shares of the company's stock worth $338,000 after purchasing an additional 2,476 shares during the period. Institutional investors and hedge funds own 14.04% of the company's stock.

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.