Mackay Shields LLC Sells 20,050 Shares of Regeneron Pharmaceuticals Inc (REGN)
Mackay Shields LLC reduced its stake in Regeneron Pharmaceuticals Inc (NASDAQ:REGN) by 61.6% during the second quarter, Holdings Channel reports. The fund owned 12,519 shares of the biopharmaceutical company’s stock after selling 20,050 shares during the period. Mackay Shields LLC’s holdings in Regeneron Pharmaceuticals were worth $4,319,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Intl Fcstone Inc. purchased a new stake in shares of Regeneron Pharmaceuticals in the second quarter worth $233,000. State of Alaska Department of Revenue grew its stake in shares of Regeneron Pharmaceuticals by 23.9% in the second quarter. State of Alaska Department of Revenue now owns 13,740 shares of the biopharmaceutical company’s stock worth $4,738,000 after acquiring an additional 2,650 shares during the last quarter. Westwood Holdings Group Inc. purchased a new stake in shares of Regeneron Pharmaceuticals in the first quarter worth $2,384,000. First Trust Advisors LP grew its stake in shares of Regeneron Pharmaceuticals by 26.9% in the second quarter. First Trust Advisors LP now owns 187,988 shares of the biopharmaceutical company’s stock worth $64,854,000 after acquiring an additional 39,879 shares during the last quarter. Finally, Sector Gamma AS purchased a new stake in shares of Regeneron Pharmaceuticals in the second quarter worth $9,832,000. 66.01% of the stock is currently owned by hedge funds and other institutional investors.
In other Regeneron Pharmaceuticals news, Director Joseph L. Goldstein sold 2,000 shares of the stock in a transaction dated Thursday, August 2nd. The stock was sold at an average price of $380.00, for a total value of $760,000.00. Following the transaction, the director now owns 14,000 shares of the company’s stock, valued at $5,320,000. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Sanofi sold 121,601 shares of the stock in a transaction dated Friday, June 8th. The shares were sold at an average price of $309.31, for a total value of $37,612,405.31. The disclosure for this sale can be found here. In the last three months, insiders sold 286,388 shares of company stock worth $94,373,982. 12.42% of the stock is owned by corporate insiders.
Regeneron Pharmaceuticals (NASDAQ:REGN) last posted its earnings results on Thursday, August 2nd. The biopharmaceutical company reported $5.45 earnings per share for the quarter, beating analysts’ consensus estimates of $4.60 by $0.85. Regeneron Pharmaceuticals had a return on equity of 29.30% and a net margin of 25.65%. The company had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.56 billion. During the same quarter in the prior year, the company earned $4.17 earnings per share. Regeneron Pharmaceuticals’s revenue was up 9.4% on a year-over-year basis. equities analysts anticipate that Regeneron Pharmaceuticals Inc will post 18.69 EPS for the current fiscal year.
A number of equities research analysts have recently commented on REGN shares. Barclays set a $290.00 target price on Regeneron Pharmaceuticals and gave the stock a “sell” rating in a research note on Thursday, May 3rd. BidaskClub raised Regeneron Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Thursday, June 21st. SunTrust Banks reissued a “hold” rating and issued a $400.00 target price on shares of Regeneron Pharmaceuticals in a research note on Friday, August 3rd. Credit Suisse Group set a $420.00 price objective on Regeneron Pharmaceuticals and gave the company a “buy” rating in a research report on Friday, April 27th. Finally, Zacks Investment Research cut Regeneron Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Wednesday, May 9th. Two equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and seven have issued a buy rating to the company. Regeneron Pharmaceuticals currently has a consensus rating of “Hold” and a consensus target price of $418.04.
Regeneron Pharmaceuticals Company Profile
Regeneron Pharmaceuticals, Inc, a biopharmaceutical company, discovers, invents, develops, manufactures, and commercializes medicines for the treatment of serious medical conditions worldwide. The company's products include EYLEA injection to treat wet age-related macular degeneration and diabetic macular edema (DME); myopic choroidal neovascularization; and diabetic retinopathy in patients with DME, as well as macular edema following retinal vein occlusion, including macular edema following central retinal vein occlusion and macular edema following branch retinal vein occlusion.
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