Parametric Portfolio Associates LLC Trims Stake in Sanofi SA (NYSE:SNY)
Parametric Portfolio Associates LLC lowered its stake in Sanofi SA (NYSE:SNY) by 0.2% during the second quarter, Holdings Channel.com reports. The institutional investor owned 2,043,740 shares of the company’s stock after selling 3,266 shares during the period. Parametric Portfolio Associates LLC’s holdings in Sanofi were worth $88,433,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Ibex Wealth Advisors purchased a new stake in Sanofi in the 2nd quarter valued at approximately $25,000. Heritage Wealth Advisors lifted its stake in shares of Sanofi by 141.2% during the 2nd quarter. Heritage Wealth Advisors now owns 603 shares of the company’s stock worth $26,000 after purchasing an additional 353 shares during the period. Bessemer Group Inc. lifted its stake in shares of Sanofi by 292.4% during the 2nd quarter. Bessemer Group Inc. now owns 671 shares of the company’s stock worth $29,000 after purchasing an additional 500 shares during the period. Evolution Wealth Advisors LLC purchased a new position in shares of Sanofi during the 2nd quarter worth $40,000. Finally, Massey Quick Simon & CO. LLC purchased a new position in shares of Sanofi during the 2nd quarter worth $43,000. 7.04% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts have weighed in on the company. UBS Group raised Sanofi from a “neutral” rating to a “buy” rating in a research note on Wednesday, August 14th. Sanford C. Bernstein assumed coverage on Sanofi in a research note on Tuesday, September 3rd. They set an “outperform” rating and a $52.00 price target on the stock. Jefferies Financial Group reissued a “buy” rating on shares of Sanofi in a research note on Thursday, August 29th. JPMorgan Chase & Co. reissued a “neutral” rating on shares of Sanofi in a research note on Tuesday, August 6th. Finally, TheStreet raised Sanofi from a “c+” rating to a “b-” rating in a research note on Friday, June 21st. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $49.67.
Sanofi (NYSE:SNY) last released its quarterly earnings data on Monday, July 29th. The company reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.07. The business had revenue of $8.63 billion during the quarter, compared to the consensus estimate of $8.42 billion. Sanofi had a return on equity of 18.18% and a net margin of 12.20%. The business’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.25 EPS. On average, equities research analysts anticipate that Sanofi SA will post 3.1 earnings per share for the current fiscal year.
In other news, major shareholder Sanofi sold 172,904 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $281.15, for a total transaction of $48,611,959.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.00% of the company’s stock.
Sanofi Company Profile
Sanofi provides therapeutic solutions. It offers Cerezyme and Cerdelga for Gaucher disease, Myozyme and Lumizyme for Pompe disease, Fabrazyme for Fabry disease, and Aldurazyme for mucopolysaccharidosis Type 1; Aubagio, an immunomodulatory; and Lemtrada, a monoclonal antibody to treat multiple sclerosis.
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