Regeneron Pharmaceuticals, Inc. (REGN) Shares Sold by Sumitomo Life Insurance Co.
Sumitomo Life Insurance Co. reduced its position in Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) by 11.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,402 shares of the biopharmaceutical company’s stock after selling 698 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in Regeneron Pharmaceuticals were worth $2,415,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of REGN. Fieldpoint Private Securities LLC acquired a new stake in shares of Regeneron Pharmaceuticals in the second quarter valued at approximately $130,000. Sterling Investment Advisors Ltd. boosted its holdings in shares of Regeneron Pharmaceuticals by 11.2% in the second quarter. Sterling Investment Advisors Ltd. now owns 278 shares of the biopharmaceutical company’s stock valued at $137,000 after acquiring an additional 28 shares during the period. FNY Managed Accounts LLC acquired a new stake in shares of Regeneron Pharmaceuticals in the first quarter valued at approximately $140,000. FNY Partners Fund LP boosted its holdings in shares of Regeneron Pharmaceuticals by 200.0% in the second quarter. FNY Partners Fund LP now owns 300 shares of the biopharmaceutical company’s stock valued at $147,000 after acquiring an additional 200 shares during the period. Finally, Alpha Windward LLC boosted its holdings in shares of Regeneron Pharmaceuticals by 0.3% in the second quarter. Alpha Windward LLC now owns 384 shares of the biopharmaceutical company’s stock valued at $189,000 after acquiring an additional 1 shares during the period. 67.40% of the stock is owned by institutional investors and hedge funds.
Shares of Regeneron Pharmaceuticals, Inc. (NASDAQ REGN) traded up 0.15% during midday trading on Monday, hitting $433.62. The stock had a trading volume of 139,693 shares. The stock has a market capitalization of $45.98 billion, a price-to-earnings ratio of 43.50 and a beta of 1.62. The stock has a 50 day moving average price of $451.08 and a 200-day moving average price of $456.76. Regeneron Pharmaceuticals, Inc. has a 52 week low of $325.35 and a 52 week high of $543.55.
Regeneron Pharmaceuticals (NASDAQ:REGN) last posted its quarterly earnings results on Thursday, August 3rd. The biopharmaceutical company reported $4.17 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.67 by $1.50. The company had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.36 billion. Regeneron Pharmaceuticals had a return on equity of 25.58% and a net margin of 22.05%. The firm’s quarterly revenue was up 21.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.82 EPS. Equities research analysts anticipate that Regeneron Pharmaceuticals, Inc. will post $14.94 earnings per share for the current year.
In related news, major shareholder Sanofi purchased 166,415 shares of the business’s stock in a transaction dated Thursday, August 24th. The shares were bought at an average price of $480.93 per share, with a total value of $80,033,965.95. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Michael S. Brown sold 1,500 shares of the stock in a transaction on Thursday, October 5th. The shares were sold at an average price of $475.00, for a total value of $712,500.00. The disclosure for this sale can be found here. In the last three months, insiders sold 89,468 shares of company stock worth $42,312,448. 10.80% of the stock is currently owned by company insiders.
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REGN has been the subject of several research analyst reports. Zacks Investment Research downgraded Regeneron Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Tuesday, October 10th. Robert W. Baird downgraded Regeneron Pharmaceuticals from a “neutral” rating to an “underperform” rating and set a $408.00 price objective for the company. in a report on Tuesday, August 1st. Jefferies Group LLC reissued a “hold” rating and issued a $500.00 price objective (up from $471.00) on shares of Regeneron Pharmaceuticals in a report on Friday, October 6th. Piper Jaffray Companies restated an “overweight” rating and set a $540.00 price target on shares of Regeneron Pharmaceuticals in a research note on Friday, September 29th. Finally, Credit Suisse Group cut Regeneron Pharmaceuticals to a “hold” rating and set a $485.00 price target for the company. in a research note on Friday, July 14th. Four investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Regeneron Pharmaceuticals currently has an average rating of “Hold” and a consensus target price of $487.80.
Regeneron Pharmaceuticals Company Profile
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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