M&T Bank Corp Cuts Holdings in Regeneron Pharmaceuticals, Inc. (REGN)
M&T Bank Corp lessened its holdings in shares of Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) by 16.6% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,476 shares of the biopharmaceutical company’s stock after selling 3,863 shares during the quarter. M&T Bank Corp’s holdings in Regeneron Pharmaceuticals were worth $9,566,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Oppenheimer & Co. Inc. boosted its position in Regeneron Pharmaceuticals by 20.6% during the second quarter. Oppenheimer & Co. Inc. now owns 7,007 shares of the biopharmaceutical company’s stock worth $3,441,000 after purchasing an additional 1,199 shares during the period. Dupont Capital Management Corp purchased a new stake in shares of Regeneron Pharmaceuticals in the second quarter worth about $220,000. Blair William & Co. IL lifted its holdings in shares of Regeneron Pharmaceuticals by 4.8% in the second quarter. Blair William & Co. IL now owns 1,713 shares of the biopharmaceutical company’s stock worth $841,000 after buying an additional 79 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Regeneron Pharmaceuticals by 2.4% in the second quarter. Principal Financial Group Inc. now owns 115,201 shares of the biopharmaceutical company’s stock worth $56,580,000 after buying an additional 2,646 shares in the last quarter. Finally, National Pension Service lifted its holdings in shares of Regeneron Pharmaceuticals by 10.8% in the second quarter. National Pension Service now owns 66,518 shares of the biopharmaceutical company’s stock worth $33,920,000 after buying an additional 6,481 shares in the last quarter. Hedge funds and other institutional investors own 67.94% of the company’s stock.
Shares of Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) traded down 0.72% on Friday, hitting $430.34. 201,532 shares of the stock traded hands. The firm has a market cap of $45.63 billion, a PE ratio of 43.17 and a beta of 1.65. The firm has a 50 day moving average price of $468.97 and a 200 day moving average price of $447.18. Regeneron Pharmaceuticals, Inc. has a 52-week low of $325.35 and a 52-week high of $543.55.
Regeneron Pharmaceuticals (NASDAQ:REGN) last released its quarterly earnings results on Thursday, August 3rd. The biopharmaceutical company reported $4.17 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.67 by $1.50. Regeneron Pharmaceuticals had a return on equity of 25.58% and a net margin of 22.05%. The company had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.36 billion. During the same quarter in the prior year, the firm posted $2.82 EPS. Regeneron Pharmaceuticals’s quarterly revenue was up 21.2% compared to the same quarter last year. On average, equities analysts forecast that Regeneron Pharmaceuticals, Inc. will post $14.89 EPS for the current year.
In related news, CFO Robert E. Landry sold 189 shares of the stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $501.06, for a total transaction of $94,700.34. Following the sale, the chief financial officer now owns 10,099 shares in the company, valued at approximately $5,060,204.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Sanofi purchased 166,415 shares of the firm’s stock in a transaction that occurred on Thursday, August 24th. The shares were bought at an average price of $480.93 per share, for a total transaction of $80,033,965.95. The disclosure for this purchase can be found here. Insiders have sold a total of 85,968 shares of company stock worth $40,699,948 in the last 90 days. 10.40% of the stock is currently owned by insiders.
A number of equities research analysts have recently issued reports on the stock. UBS AG lowered their price target on shares of Regeneron Pharmaceuticals from $535.00 to $500.00 and set a “buy” rating on the stock in a report on Thursday. Royal Bank Of Canada assumed coverage on shares of Regeneron Pharmaceuticals in a report on Thursday, September 14th. They issued a “sector perform” rating and a $475.00 price target on the stock. Canaccord Genuity reissued a “buy” rating and issued a $522.00 price target on shares of Regeneron Pharmaceuticals in a report on Monday, September 11th. Credit Suisse Group reissued a “buy” rating and issued a $485.00 price target on shares of Regeneron Pharmaceuticals in a report on Monday, September 11th. Finally, Robert W. Baird reissued a “sell” rating and issued a $408.00 price target on shares of Regeneron Pharmaceuticals in a report on Friday, September 8th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $490.03.
Regeneron Pharmaceuticals Profile
Regeneron Pharmaceuticals, Inc is a biopharmaceutical company that discovers, invents, develops, manufactures and commercializes medicines for the treatment of serious medical conditions. The Company commercializes medicines for eye diseases, high low-density lipoprotein (LDL) cholesterol, and an inflammatory condition and have product candidates in development in other areas, including rheumatoid arthritis, asthma, atopic dermatitis, pain, cancer, and infectious diseases.
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