Sound Shore Management Inc CT Makes New Investment in Regeneron Pharmaceuticals, Inc. $REGN

Sound Shore Management Inc CT purchased a new stake in shares of Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 115,028 shares of the biopharmaceutical company’s stock, valued at approximately $64,677,000.

Other hedge funds have also recently made changes to their positions in the company. Dodge & Cox grew its position in shares of Regeneron Pharmaceuticals by 64.6% during the second quarter. Dodge & Cox now owns 3,826,283 shares of the biopharmaceutical company’s stock worth $2,008,799,000 after purchasing an additional 1,502,198 shares in the last quarter. Norges Bank purchased a new stake in Regeneron Pharmaceuticals during the 2nd quarter valued at approximately $628,151,000. Acadian Asset Management LLC raised its position in shares of Regeneron Pharmaceuticals by 234.7% during the second quarter. Acadian Asset Management LLC now owns 465,740 shares of the biopharmaceutical company’s stock valued at $244,480,000 after buying an additional 326,583 shares during the last quarter. Loomis Sayles & Co. L P lifted its holdings in shares of Regeneron Pharmaceuticals by 18.6% in the second quarter. Loomis Sayles & Co. L P now owns 1,941,070 shares of the biopharmaceutical company’s stock worth $1,019,062,000 after buying an additional 305,089 shares in the last quarter. Finally, Invesco Ltd. boosted its position in shares of Regeneron Pharmaceuticals by 26.5% during the second quarter. Invesco Ltd. now owns 1,075,824 shares of the biopharmaceutical company’s stock worth $564,808,000 after acquiring an additional 225,078 shares during the last quarter. Institutional investors own 83.31% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Scotiabank increased their price objective on shares of Regeneron Pharmaceuticals from $650.00 to $770.00 and gave the company a “sector perform” rating in a report on Monday, November 24th. Wells Fargo & Company upped their price target on shares of Regeneron Pharmaceuticals from $745.00 to $800.00 and gave the company an “equal weight” rating in a research note on Monday, February 2nd. Evercore lifted their price objective on shares of Regeneron Pharmaceuticals from $750.00 to $875.00 and gave the stock an “outperform” rating in a research note on Thursday, January 22nd. Citigroup boosted their target price on shares of Regeneron Pharmaceuticals from $660.00 to $700.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Finally, Guggenheim increased their price target on shares of Regeneron Pharmaceuticals from $865.00 to $975.00 and gave the company a “buy” rating in a report on Monday. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Regeneron Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus target price of $793.81.

Regeneron Pharmaceuticals Stock Performance

Shares of NASDAQ:REGN opened at $778.97 on Thursday. The company has a current ratio of 4.13, a quick ratio of 3.39 and a debt-to-equity ratio of 0.09. Regeneron Pharmaceuticals, Inc. has a 12 month low of $476.49 and a 12 month high of $821.11. The company has a market capitalization of $81.87 billion, a price-to-earnings ratio of 18.74, a PEG ratio of 2.03 and a beta of 0.40. The firm’s 50-day moving average is $759.25 and its 200 day moving average is $662.51.

Regeneron Pharmaceuticals (NASDAQ:REGN) last announced its earnings results on Friday, January 30th. The biopharmaceutical company reported $11.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.74 by $0.70. Regeneron Pharmaceuticals had a return on equity of 13.04% and a net margin of 31.41%.The business had revenue of $3.88 billion during the quarter, compared to analyst estimates of $3.76 billion. During the same quarter in the previous year, the business earned $12.07 earnings per share. The company’s revenue for the quarter was up 2.5% compared to the same quarter last year. Research analysts predict that Regeneron Pharmaceuticals, Inc. will post 35.92 EPS for the current year.

Regeneron Pharmaceuticals Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 5th. Shareholders of record on Friday, February 20th will be paid a $0.94 dividend. The ex-dividend date is Friday, February 20th. This is a positive change from Regeneron Pharmaceuticals’s previous quarterly dividend of $0.88. This represents a $3.76 dividend on an annualized basis and a yield of 0.5%. Regeneron Pharmaceuticals’s payout ratio is 8.47%.

Insider Transactions at Regeneron Pharmaceuticals

In other news, Director Arthur F. Ryan sold 100 shares of the business’s stock in a transaction on Monday, February 9th. The shares were sold at an average price of $778.53, for a total transaction of $77,853.00. Following the completion of the sale, the director directly owned 17,803 shares of the company’s stock, valued at approximately $13,860,169.59. The trade was a 0.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Bonnie L. Bassler sold 1,500 shares of the business’s stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $800.00, for a total transaction of $1,200,000.00. Following the completion of the sale, the director directly owned 1,703 shares of the company’s stock, valued at approximately $1,362,400. This trade represents a 46.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 3,636 shares of company stock worth $2,862,920. 7.02% of the stock is currently owned by insiders.

Regeneron Pharmaceuticals Profile

Regeneron Pharmaceuticals, Inc (NASDAQ: REGN) is a U.S.-based biotechnology company founded in 1988 and headquartered in Tarrytown, New York. It focuses on discovering, developing, manufacturing and commercializing medicines for serious medical conditions. The company combines laboratory research, clinical development and in-house manufacturing to advance a pipeline of biologic therapies across multiple therapeutic areas.

Regeneron is known for its proprietary drug discovery technologies, including its VelocImmune platform, which is used to generate fully human monoclonal antibodies.