Palouse Capital Management Inc. Acquires New Stake in Sanofi $SNY

Palouse Capital Management Inc. acquired a new stake in shares of Sanofi (NASDAQ:SNY) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 54,374 shares of the company’s stock, valued at approximately $2,620,000. Sanofi comprises 1.7% of Palouse Capital Management Inc.’s holdings, making the stock its 22nd biggest holding.

Other hedge funds have also added to or reduced their stakes in the company. Brighton Jones LLC raised its position in shares of Sanofi by 52.6% in the 4th quarter. Brighton Jones LLC now owns 5,420 shares of the company’s stock worth $261,000 after purchasing an additional 1,869 shares during the last quarter. AQR Capital Management LLC increased its stake in Sanofi by 107.2% during the 1st quarter. AQR Capital Management LLC now owns 30,518 shares of the company’s stock valued at $1,693,000 after purchasing an additional 15,791 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Sanofi by 1.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 49,255 shares of the company’s stock valued at $2,732,000 after purchasing an additional 752 shares in the last quarter. Sivia Capital Partners LLC raised its holdings in Sanofi by 5.4% in the second quarter. Sivia Capital Partners LLC now owns 6,751 shares of the company’s stock worth $326,000 after buying an additional 347 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in Sanofi by 36.1% in the second quarter. EverSource Wealth Advisors LLC now owns 3,301 shares of the company’s stock worth $159,000 after buying an additional 875 shares during the last quarter. 14.03% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on SNY. BNP Paribas Exane cut shares of Sanofi from an “outperform” rating to a “neutral” rating and set a $50.00 price target on the stock. in a report on Monday, April 20th. Morgan Stanley set a $52.00 price objective on shares of Sanofi in a report on Friday, May 1st. Sanford C. Bernstein raised Sanofi to a “strong-buy” rating in a research report on Thursday, March 19th. Weiss Ratings upgraded Sanofi from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, May 13th. Finally, Citigroup reissued a “neutral” rating on shares of Sanofi in a report on Monday, April 13th. Two investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Sanofi presently has an average rating of “Hold” and a consensus target price of $51.00.

Sanofi Stock Performance

Shares of SNY stock opened at $41.63 on Thursday. The company has a 50 day moving average price of $43.84 and a 200-day moving average price of $45.90. Sanofi has a 52 week low of $40.89 and a 52 week high of $52.68. The firm has a market capitalization of $100.93 billion, a PE ratio of 11.63, a P/E/G ratio of 1.05 and a beta of 0.35. The company has a quick ratio of 0.22, a current ratio of 1.01 and a debt-to-equity ratio of 0.17.

Sanofi Increases Dividend

The business also recently announced an annual dividend, which was paid on Wednesday, June 3rd. Shareholders of record on Monday, May 4th were given a $2.4225 dividend. This is a boost from Sanofi’s previous annual dividend of $2.04. The ex-dividend date of this dividend was Monday, May 4th. This represents a yield of 559.0%. Sanofi’s payout ratio is presently 49.16%.

Sanofi Company Profile

Sanofi (NASDAQ:SNY) is a multinational pharmaceutical company headquartered in France that researches, develops, manufactures and markets prescription medicines, vaccines and consumer healthcare products. The company operates across multiple therapeutic areas, including immunology, rare diseases, oncology, cardiovascular and metabolic diseases, and vaccines through its Sanofi Pasteur division. Sanofi sells products to hospitals, clinics, governments and retail pharmacies, with a broad global footprint and significant presence in Europe, North America and emerging markets.

Key commercial offerings include specialty biologics and established small-molecule medicines.