Invesco Ltd. Sells 2,671,341 Shares of Sanofi $SNY

Invesco Ltd. cut its stake in Sanofi (NASDAQ:SNY) by 22.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,188,204 shares of the company’s stock after selling 2,671,341 shares during the quarter. Invesco Ltd.’s holdings in Sanofi were worth $443,882,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Price T Rowe Associates Inc. MD raised its stake in Sanofi by 1.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 11,036,878 shares of the company’s stock worth $612,106,000 after buying an additional 193,196 shares in the last quarter. Franklin Resources Inc. raised its position in shares of Sanofi by 9.9% in the 2nd quarter. Franklin Resources Inc. now owns 4,274,410 shares of the company’s stock worth $206,497,000 after acquiring an additional 384,902 shares in the last quarter. Envestnet Asset Management Inc. lifted its stake in shares of Sanofi by 4.8% in the 2nd quarter. Envestnet Asset Management Inc. now owns 3,434,999 shares of the company’s stock valued at $165,945,000 after purchasing an additional 157,605 shares during the period. Raymond James Financial Inc. boosted its position in shares of Sanofi by 15.1% during the first quarter. Raymond James Financial Inc. now owns 3,244,027 shares of the company’s stock valued at $179,914,000 after purchasing an additional 425,597 shares in the last quarter. Finally, Nuveen LLC purchased a new stake in Sanofi in the first quarter worth $177,831,000. Hedge funds and other institutional investors own 14.03% of the company’s stock.

Sanofi Price Performance

Shares of SNY opened at $48.90 on Friday. The firm has a market cap of $120.07 billion, a PE ratio of 11.45, a P/E/G ratio of 1.35 and a beta of 0.44. Sanofi has a 1-year low of $44.62 and a 1-year high of $60.12. The company has a current ratio of 1.06, a quick ratio of 0.30 and a debt-to-equity ratio of 0.16. The firm has a fifty day simple moving average of $49.82 and a two-hundred day simple moving average of $49.23.

Sanofi (NASDAQ:SNY) last posted its quarterly earnings data on Friday, October 24th. The company reported $2.91 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $1.31. The company had revenue of $15.46 billion during the quarter, compared to analysts’ expectations of $12.62 billion. Sanofi had a return on equity of 12.70% and a net margin of 21.96%.Sanofi’s revenue for the quarter was down 7.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.25 earnings per share. On average, equities analysts anticipate that Sanofi will post 4.36 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Morgan Stanley raised shares of Sanofi from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $56.00 to $58.00 in a research report on Monday, September 8th. JPMorgan Chase & Co. raised Sanofi from a “neutral” rating to an “overweight” rating in a research report on Friday, August 8th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Sanofi in a research report on Monday, October 27th. Weiss Ratings reissued a “hold (c+)” rating on shares of Sanofi in a research note on Monday. Finally, Deutsche Bank Aktiengesellschaft raised Sanofi from a “hold” rating to a “buy” rating in a research report on Tuesday, September 2nd. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $62.67.

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.