Sanofi SA (NYSE:SNY) Position Trimmed by Essex Financial Services Inc.
Essex Financial Services Inc. decreased its holdings in shares of Sanofi SA (NYSE:SNY) by 5.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,495 shares of the company’s stock after selling 344 shares during the period. Essex Financial Services Inc.’s holdings in Sanofi were worth $301,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Ibex Wealth Advisors bought a new stake in Sanofi during the second quarter valued at $25,000. Heritage Wealth Advisors increased its stake in Sanofi by 141.2% during the second quarter. Heritage Wealth Advisors now owns 603 shares of the company’s stock valued at $26,000 after purchasing an additional 353 shares during the last quarter. Bessemer Group Inc. increased its stake in Sanofi by 292.4% during the second quarter. Bessemer Group Inc. now owns 671 shares of the company’s stock valued at $29,000 after purchasing an additional 500 shares during the last quarter. Prestige Wealth Management Group LLC bought a new stake in Sanofi during the second quarter valued at $37,000. Finally, Evolution Wealth Advisors LLC bought a new stake in Sanofi during the second quarter valued at $40,000. Hedge funds and other institutional investors own 7.04% of the company’s stock.
Several research firms have weighed in on SNY. Morgan Stanley upgraded shares of Sanofi from an “equal” rating to a “weight” rating in a research note on Friday, September 20th. Guggenheim upgraded shares of Sanofi from a “neutral” rating to a “buy” rating in a research report on Monday, September 23rd. Sanford C. Bernstein initiated coverage on shares of Sanofi in a research report on Tuesday, September 3rd. They set an “outperform” rating and a $52.00 price target for the company. Jefferies Financial Group restated a “buy” rating on shares of Sanofi in a research report on Thursday, August 29th. Finally, UBS Group upgraded shares of Sanofi from a “neutral” rating to a “buy” rating in a research report on Wednesday, August 14th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $49.50.
In other news, major shareholder Sanofi sold 172,904 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $281.15, for a total transaction of $48,611,959.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.00% of the stock is currently owned by corporate insiders.
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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