Parallel Advisors LLC Decreases Stock Holdings in Regeneron Pharmaceuticals Inc (NASDAQ:REGN)

Parallel Advisors LLC trimmed its stake in shares of Regeneron Pharmaceuticals Inc (NASDAQ:REGN) by 15.8% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 278 shares of the biopharmaceutical company’s stock after selling 52 shares during the period. Parallel Advisors LLC’s holdings in Regeneron Pharmaceuticals were worth $77,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in REGN. Victory Capital Management Inc. boosted its position in shares of Regeneron Pharmaceuticals by 0.5% in the second quarter. Victory Capital Management Inc. now owns 7,941 shares of the biopharmaceutical company’s stock worth $2,486,000 after purchasing an additional 38 shares during the period. Cim Investment Mangement Inc. boosted its position in shares of Regeneron Pharmaceuticals by 4.0% during the second quarter. Cim Investment Mangement Inc. now owns 1,101 shares of the biopharmaceutical company’s stock worth $345,000 after acquiring an additional 42 shares during the last quarter. Perigon Wealth Management LLC boosted its position in shares of Regeneron Pharmaceuticals by 7.1% during the second quarter. Perigon Wealth Management LLC now owns 757 shares of the biopharmaceutical company’s stock worth $237,000 after acquiring an additional 50 shares during the last quarter. Northeast Financial Consultants Inc boosted its position in shares of Regeneron Pharmaceuticals by 4.3% during the second quarter. Northeast Financial Consultants Inc now owns 1,217 shares of the biopharmaceutical company’s stock worth $381,000 after acquiring an additional 50 shares during the last quarter. Finally, Summit X LLC boosted its position in shares of Regeneron Pharmaceuticals by 5.2% during the third quarter. Summit X LLC now owns 1,100 shares of the biopharmaceutical company’s stock worth $310,000 after acquiring an additional 54 shares during the last quarter. 66.61% of the stock is owned by hedge funds and other institutional investors.

A number of equities analysts recently weighed in on the stock. Cowen set a $349.00 target price on shares of Regeneron Pharmaceuticals and gave the stock a “hold” rating in a research report on Tuesday, October 8th. Robert W. Baird raised shares of Regeneron Pharmaceuticals from a “neutral” rating to an “outperform” rating and set a $410.00 price target on the stock in a research note on Wednesday, August 7th. SunTrust Banks started coverage on shares of Regeneron Pharmaceuticals in a research note on Tuesday. They set a “hold” rating and a $360.00 price target on the stock. ValuEngine downgraded shares of Regeneron Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Friday, October 25th. Finally, Citigroup raised shares of Regeneron Pharmaceuticals from a “neutral” rating to a “buy” rating and upped their price target for the company from $340.00 to $420.00 in a research note on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Regeneron Pharmaceuticals presently has an average rating of “Hold” and a consensus target price of $384.63.

In related news, major shareholder Sanofi sold 172,904 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $281.15, for a total value of $48,611,959.60. Also, Director Joseph L. Goldstein sold 1,000 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $340.44, for a total transaction of $340,440.00. Following the completion of the transaction, the director now directly owns 10,323 shares in the company, valued at approximately $3,514,362.12. The disclosure for this sale can be found here. In the last three months, insiders sold 181,268 shares of company stock worth $51,445,261. Insiders own 11.84% of the company’s stock.

Shares of REGN traded down $1.15 during midday trading on Wednesday, hitting $347.26. The stock had a trading volume of 21,951 shares, compared to its average volume of 772,311. Regeneron Pharmaceuticals Inc has a 1 year low of $271.37 and a 1 year high of $442.00. The firm has a market cap of $37.54 billion, a PE ratio of 17.46, a price-to-earnings-growth ratio of 1.50 and a beta of 1.14. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.03 and a quick ratio of 3.27. The stock’s 50 day moving average is $301.66 and its 200 day moving average is $304.40.

Regeneron Pharmaceuticals (NASDAQ:REGN) last announced its earnings results on Tuesday, November 5th. The biopharmaceutical company reported $6.67 earnings per share for the quarter, beating 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 business 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 firm posted $5.87 earnings per share. The business’s revenue for the quarter was up 23.2% on a year-over-year basis. As a group, equities research analysts expect that Regeneron Pharmaceuticals Inc will post 19.62 earnings per share for the current fiscal year.

Regeneron Pharmaceuticals declared that its board has approved a stock buyback program on Tuesday, November 5th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the biopharmaceutical company to reacquire up to 2.9% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

Regeneron Pharmaceuticals Company 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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Institutional Ownership by Quarter for Regeneron Pharmaceuticals (NASDAQ:REGN)

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