Putnam FL Investment Management Co. decreased its stake in shares of Regeneron Pharmaceuticals Inc (NASDAQ:REGN) by 3.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 17,312 shares of the biopharmaceutical company’s stock after selling 593 shares during the period. Putnam FL Investment Management Co.’s holdings in Regeneron Pharmaceuticals were worth $4,802,000 as of its most recent filing with the SEC.
Other hedge funds also recently made changes to their positions in the company. Accurate Investment Solutions Inc. acquired a new stake in Regeneron Pharmaceuticals in the 2nd quarter worth about $31,000. HM Payson & Co. acquired a new stake in Regeneron Pharmaceuticals in the 2nd quarter worth about $31,000. Bridger Capital Management LLC acquired a new stake in Regeneron Pharmaceuticals in the 3rd quarter worth about $30,000. Coastal Capital Group Inc. acquired a new stake in Regeneron Pharmaceuticals in the 2nd quarter worth about $38,000. Finally, Focused Wealth Management Inc raised its stake in Regeneron Pharmaceuticals by 1,333.3% in the 2nd quarter. Focused Wealth Management Inc now owns 129 shares of the biopharmaceutical company’s stock worth $40,000 after purchasing an additional 120 shares in the last quarter. 66.61% of the stock is owned by institutional investors and hedge funds.
Several analysts have weighed in on the stock. Bank of America started coverage on shares of Regeneron Pharmaceuticals in a research note on Wednesday, October 16th. They issued a “neutral” rating and a $325.00 price objective for the company. Zacks Investment Research upgraded shares of Regeneron Pharmaceuticals from a “hold” rating to a “buy” rating and set a $360.00 target price for the company in a research report on Monday. BMO Capital Markets boosted their target price on shares of Regeneron Pharmaceuticals from $344.00 to $358.00 and gave the company a “market perform” rating in a research report on Wednesday, November 6th. Evercore ISI restated a “buy” rating and issued a $395.00 target price on shares of Regeneron Pharmaceuticals in a research report on Monday. Finally, ValuEngine cut shares of Regeneron Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $384.63.
Regeneron Pharmaceuticals (NASDAQ:REGN) last released its quarterly earnings data on Tuesday, November 5th. The biopharmaceutical company reported $6.67 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $5.13 by $1.54. Regeneron Pharmaceuticals had a net margin of 28.13% and a return on equity of 24.85%. The firm had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $1.98 billion. During the same quarter in the prior year, the company posted $5.87 earnings per share. The business’s revenue was up 23.2% on a year-over-year basis. On average, sell-side analysts forecast that Regeneron Pharmaceuticals Inc will post 19.62 earnings per share for the current year.
Regeneron Pharmaceuticals announced that its Board of Directors has approved a stock buyback plan on Tuesday, November 5th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the biopharmaceutical company to buy up to 2.9% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.
In other Regeneron Pharmaceuticals news, Director Joseph L. Goldstein sold 1,000 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $340.44, for a total transaction of $340,440.00. Following the transaction, the director now owns 10,323 shares in the company, valued at $3,514,362.12. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, 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. In the last 90 days, insiders have sold 185,768 shares of company stock worth $53,015,761. Corporate insiders own 11.84% of the company’s stock.
Regeneron Pharmaceuticals Profile
Regeneron Pharmaceuticals, Inc, a biopharmaceutical company, discovers, invents, develops, manufactures, and commercializes medicines for treating various medical conditions worldwide. The company's products include EYLEA injection to treat wet age-related macular degeneration and diabetic macular edema (DME); myopic choroidal neovascularization; and diabetic retinopathy in patients with DME, as well as macular edema following retinal vein occlusion, including macular edema following central retinal vein occlusion and macular edema following branch retinal vein occlusion.
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