Sanofi $SNY Stock Position Reduced by ProVise Management Group LLC

ProVise Management Group LLC lessened its holdings in shares of Sanofi (NASDAQ:SNY) by 74.4% in the third quarter, according to its most recent filing with the SEC. The firm owned 30,980 shares of the company’s stock after selling 89,849 shares during the quarter. ProVise Management Group LLC’s holdings in Sanofi were worth $1,277,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Western Wealth Management LLC acquired a new stake in Sanofi in the first quarter worth about $29,000. Root Financial Partners LLC bought a new position in Sanofi in the 3rd quarter valued at about $27,000. Signature Equity Partners LLC grew its position in Sanofi by 322.2% in the 3rd quarter. Signature Equity Partners LLC now owns 857 shares of the company’s stock valued at $35,000 after buying an additional 654 shares in the last quarter. Financial Network Wealth Advisors LLC increased its stake in Sanofi by 103.3% during the 3rd quarter. Financial Network Wealth Advisors LLC now owns 911 shares of the company’s stock valued at $38,000 after buying an additional 463 shares during the period. Finally, Provenance Wealth Advisors LLC raised its position in shares of Sanofi by 359.8% during the 3rd quarter. Provenance Wealth Advisors LLC now owns 2,322 shares of the company’s stock worth $96,000 after buying an additional 1,817 shares in the last quarter. 14.03% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. HSBC reaffirmed a “buy” rating on shares of Sanofi in a research note on Thursday, September 10th. Wall Street Zen upgraded shares of Sanofi from a “hold” rating to a “buy” rating in a research note on Saturday, November 7th. BNP Paribas Exane raised Sanofi from a “neutral” rating to an “outperform” rating and set a $57.00 target price on the stock in a report on Monday, November 9th. JPMorgan Chase & Co. reissued a “neutral” rating on shares of Sanofi in a report on Thursday, October 1st. Finally, Weiss Ratings upgraded Sanofi from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, November 2nd. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and twelve have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $53.00.

Sanofi Price Performance

Sanofi stock traded down $0.09 during midday trading on Friday, hitting $48.37. The company’s stock had a trading volume of 1,675,700 shares, compared to its average volume of 4,657,690. Sanofi has a 12 month low of $39.07 and a 12 month high of $52.67. The company has a quick ratio of 0.27, a current ratio of 1.12 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $117.27 billion, a PE ratio of 23.95, a price-to-earnings-growth ratio of 1.33 and a beta of 0.31. The stock’s 50-day moving average price is $42.68 and its 200-day moving average price is $44.38.

Sanofi (NASDAQ:SNY) last posted its quarterly earnings data on Friday, October 30th. The company reported $2.04 earnings per share for the quarter, beating the consensus estimate of $1.56 by $0.48. Sanofi had a net margin of 8.70% and a return on equity of 15.16%. The company had revenue of $17.25 billion during the quarter, compared to analyst estimates of $14.30 billion. During the same quarter last year, the firm posted $2.91 EPS. The business’s revenue for the quarter was up 16.2% on a year-over-year basis. Analysts anticipate that Sanofi will post 5.07 earnings per share for the current fiscal year.

About Sanofi

Sanofi is a France-based global biopharmaceutical company that researches, develops, manufactures and markets medicines and vaccines. Its work spans areas including immunology, oncology, rare diseases and neurology, as well as preventive vaccines. The company’s portfolio includes Dupixent, an immunology medicine developed with Regeneron, and vaccines for diseases such as influenza and meningitis. Sanofi serves patients and healthcare providers in markets around the world. Sanofi traces its origins to a company established in France in 1973.