Regeneron Pharmaceuticals, Inc. (REGN) Position Boosted by Sustainable Growth Advisers LP
Sustainable Growth Advisers LP raised its stake in shares of Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) by 19.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 615,897 shares of the biopharmaceutical company’s stock after buying an additional 102,328 shares during the period. Regeneron Pharmaceuticals accounts for about 4.4% of Sustainable Growth Advisers LP’s portfolio, making the stock its 3rd largest position. Sustainable Growth Advisers LP owned about 0.58% of Regeneron Pharmaceuticals worth $302,492,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. increased its position in Regeneron Pharmaceuticals by 3,331.5% in the first quarter. BlackRock Inc. now owns 6,146,861 shares of the biopharmaceutical company’s stock valued at $2,381,971,000 after buying an additional 5,967,733 shares during the last quarter. Wellington Management Group LLP increased its position in Regeneron Pharmaceuticals by 7.9% in the first quarter. Wellington Management Group LLP now owns 6,135,559 shares of the biopharmaceutical company’s stock valued at $2,377,590,000 after buying an additional 446,850 shares during the last quarter. Vanguard Group Inc. increased its position in Regeneron Pharmaceuticals by 4.1% in the first quarter. Vanguard Group Inc. now owns 5,121,496 shares of the biopharmaceutical company’s stock valued at $1,984,630,000 after buying an additional 199,975 shares during the last quarter. State Street Corp increased its position in Regeneron Pharmaceuticals by 4.3% in the first quarter. State Street Corp now owns 3,380,151 shares of the biopharmaceutical company’s stock valued at $1,309,861,000 after buying an additional 139,602 shares during the last quarter. Finally, Artisan Partners Limited Partnership increased its position in Regeneron Pharmaceuticals by 2.2% in the first quarter. Artisan Partners Limited Partnership now owns 1,933,228 shares of the biopharmaceutical company’s stock valued at $749,145,000 after buying an additional 41,630 shares during the last quarter. 67.96% of the stock is owned by hedge funds and other institutional investors.
Shares of Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) traded up 1.068% during mid-day trading on Friday, hitting $502.205. 176,640 shares of the stock were exchanged. The stock has a market cap of $53.25 billion, a price-to-earnings ratio of 50.382 and a beta of 1.66. The company has a 50-day moving average price of $486.45 and a 200-day moving average price of $438.75. Regeneron Pharmaceuticals, Inc. has a 12 month low of $325.35 and a 12 month high of $543.55.
Regeneron Pharmaceuticals (NASDAQ:REGN) last issued its quarterly earnings data on Thursday, August 3rd. The biopharmaceutical company reported $4.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.67 by $1.50. Regeneron Pharmaceuticals had a return on equity of 25.58% and a net margin of 22.05%. The firm had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.36 billion. During the same period last year, the company earned $2.82 EPS. The company’s quarterly revenue was up 21.2% on a year-over-year basis. Equities analysts expect that Regeneron Pharmaceuticals, Inc. will post $14.85 earnings per share for the current year.
REGN has been the subject of several research analyst reports. Leerink Swann reaffirmed a “positive” rating and issued a $552.00 price target (down from $580.00) on shares of Regeneron Pharmaceuticals in a research note on Tuesday, August 15th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Regeneron Pharmaceuticals in a research note on Thursday, May 25th. Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $557.00 price target on shares of Regeneron Pharmaceuticals in a research note on Tuesday, August 1st. Evercore ISI began coverage on shares of Regeneron Pharmaceuticals in a research note on Wednesday, August 16th. They issued an “outperform” rating and a $605.00 price target for the company. Finally, BMO Capital Markets reiterated a “hold” rating and set a $421.00 price objective (up from $412.00) on shares of Regeneron Pharmaceuticals in a report on Friday, May 5th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the stock. Regeneron Pharmaceuticals currently has a consensus rating of “Hold” and an average price target of $495.59.
In related news, Chairman P Roy Vagelos sold 15,191 shares of the business’s stock in a transaction that occurred on Friday, August 18th. The stock was sold at an average price of $470.15, for a total transaction of $7,142,048.65. Following the completion of the sale, the chairman now owns 329,543 shares in the company, valued at $154,934,641.45. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Joseph L. Goldstein sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $482.55, for a total value of $482,550.00. Following the sale, the director now owns 14,000 shares of the company’s stock, valued at approximately $6,755,700. The disclosure for this sale can be found here. Insiders sold a total of 128,978 shares of company stock valued at $61,591,977 in the last quarter. Company insiders own 10.40% of the company’s stock.
About Regeneron Pharmaceuticals
Regeneron Pharmaceuticals, Inc is a biopharmaceutical company that discovers, invents, develops, manufactures and commercializes medicines for the treatment of serious medical conditions. The Company commercializes medicines for eye diseases, high low-density lipoprotein (LDL) cholesterol, and an inflammatory condition and have product candidates in development in other areas, including rheumatoid arthritis, asthma, atopic dermatitis, pain, cancer, and infectious diseases.
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