Sanofi (SNY) Upgraded to “Hold” by Zacks Investment Research
Sanofi (NYSE:SNY) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Wednesday.
According to Zacks, “Sanofi has several new products in its portfolio and candidates in its pipeline that can contribute to long-term growth. Particularly, we are optimistic on sales prospects of Dupixent, which could prove to be an important growth driver. The acquisitions of Ablynx and Bioverativ have strengthened Sanofi’s position in the rare blood disorders market. However, Sanofi’s Diabetes franchise is under significant pressure with key product, Lantus facing increasing competitive pressure at the payor level and the presence of biosimilar competition in several European markets and Japan. Other headwinds include generic competition for many drugs and slower-than-expected uptake of new products like Praluent. Meanwhile, the performance of the Vaccines and Consumer Healthcare franchises has been soft lately. Shares have also underperformed the industry this year so far. Nonetheless, Sanofi expects to return to growth in the second half of 2018.”
Several other research firms have also weighed in on SNY. Deutsche Bank restated a “buy” rating on shares of Sanofi in a research report on Monday, March 12th. Liberum Capital upgraded shares of Sanofi from a “hold” rating to a “buy” rating in a research report on Friday, March 23rd. TheStreet lowered shares of Sanofi from a “b-” rating to a “c+” rating in a research report on Tuesday, February 13th. Finally, ValuEngine lowered shares of Sanofi from a “hold” rating to a “sell” rating in a research report on Wednesday, May 2nd. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company’s stock. Sanofi presently has a consensus rating of “Hold” and an average target price of $49.33.
Sanofi (NYSE:SNY) last announced its earnings results on Friday, April 27th. The company reported $0.79 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.74 by $0.05. The firm had revenue of $7.90 billion during the quarter, compared to analyst estimates of $7.88 billion. Sanofi had a net margin of 10.93% and a return on equity of 24.45%. Sanofi’s revenue was down 8.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.42 EPS. equities analysts expect that Sanofi will post 3.21 EPS for the current year.
In other Sanofi news, major shareholder Sanofi sold 121,601 shares of the firm’s 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.00% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the business. Summit Trail Advisors LLC boosted its holdings in shares of Sanofi by 24.3% in the first quarter. Summit Trail Advisors LLC now owns 10,034 shares of the company’s stock worth $242,000 after buying an additional 1,959 shares during the period. CIBC World Markets Inc. boosted its holdings in shares of Sanofi by 180.5% in the first quarter. CIBC World Markets Inc. now owns 246,581 shares of the company’s stock worth $9,883,000 after buying an additional 158,688 shares during the period. Royal Bank of Canada boosted its holdings in shares of Sanofi by 6.2% in the first quarter. Royal Bank of Canada now owns 1,603,826 shares of the company’s stock worth $64,281,000 after buying an additional 94,224 shares during the period. Private Capital Group LLC boosted its holdings in shares of Sanofi by 271.3% in the first quarter. Private Capital Group LLC now owns 2,577 shares of the company’s stock worth $103,000 after buying an additional 1,883 shares during the period. Finally, Sio Capital Management LLC acquired a new position in shares of Sanofi in the first quarter worth about $16,378,000. Institutional investors own 8.47% of the company’s stock.
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; and Aubagio, an oral immunomodulator and Lemtrada, a monoclonal antibody to treat multiple sclerosis.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Sanofi Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sanofi and related companies with MarketBeat.com's FREE daily email newsletter.