Avitas Wealth Management LLC trimmed its stake in Regeneron Pharmaceuticals Inc (NASDAQ:REGN) by 14.3% during the second quarter, Holdings Channel reports. The fund owned 6,539 shares of the biopharmaceutical company’s stock after selling 1,092 shares during the quarter. Regeneron Pharmaceuticals accounts for 1.4% of Avitas Wealth Management LLC’s holdings, making the stock its 16th largest position. Avitas Wealth Management LLC’s holdings in Regeneron Pharmaceuticals were worth $4,078,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently bought and sold shares of the company. BlackRock Inc. raised its holdings in shares of Regeneron Pharmaceuticals by 7.5% during the first quarter. BlackRock Inc. now owns 6,597,849 shares of the biopharmaceutical company’s stock worth $3,221,664,000 after acquiring an additional 459,001 shares during the period. State Street Corp increased its stake in shares of Regeneron Pharmaceuticals by 1.2% in the first quarter. State Street Corp now owns 3,617,333 shares of the biopharmaceutical company’s stock worth $1,766,308,000 after buying an additional 43,216 shares during the period. Polen Capital Management LLC raised its stake in shares of Regeneron Pharmaceuticals by 2.7% during the first quarter. Polen Capital Management LLC now owns 1,721,002 shares of the biopharmaceutical company’s stock valued at $840,348,000 after acquiring an additional 44,708 shares during the last quarter. Capital International Investors increased its holdings in Regeneron Pharmaceuticals by 6.9% during the 1st quarter. Capital International Investors now owns 1,622,215 shares of the biopharmaceutical company’s stock valued at $792,111,000 after purchasing an additional 104,782 shares during the period. Finally, Geode Capital Management LLC raised its position in Regeneron Pharmaceuticals by 5.2% during the 1st quarter. Geode Capital Management LLC now owns 1,332,517 shares of the biopharmaceutical company’s stock valued at $649,463,000 after purchasing an additional 65,789 shares during the last quarter. Hedge funds and other institutional investors own 68.07% of the company’s stock.
Regeneron Pharmaceuticals stock traded up $0.60 during midday trading on Friday, hitting $632.07. The stock had a trading volume of 663,361 shares, compared to its average volume of 717,188. The company has a current ratio of 4.21, a quick ratio of 3.49 and a debt-to-equity ratio of 0.06. Regeneron Pharmaceuticals Inc has a 12 month low of $271.37 and a 12 month high of $664.64. The business has a fifty day moving average price of $622.21 and a 200 day moving average price of $515.71. The stock has a market cap of $69.54 billion, a P/E ratio of 31.76, a P/E/G ratio of 1.99 and a beta of 0.58.
In related news, Director Joseph L. Goldstein sold 2,000 shares of Regeneron Pharmaceuticals stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $560.00, for a total value of $1,120,000.00. Following the transaction, the director now directly owns 7,643 shares in the company, valued at approximately $4,280,080. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Leonard S. Schleifer sold 150,922 shares of the business’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $569.22, for a total value of $85,907,820.84. Following the sale, the chief executive officer now directly owns 599,499 shares in the company, valued at $341,246,820.78. The disclosure for this sale can be found here. In the last three months, insiders have sold 210,582 shares of company stock worth $122,348,282. 11.84% of the stock is owned by corporate insiders.
REGN has been the topic of several research analyst reports. Goldman Sachs Group boosted their target price on Regeneron Pharmaceuticals from $636.00 to $700.00 and gave the company a “conviction-buy” rating in a research note on Wednesday, May 6th. Benchmark initiated coverage on Regeneron Pharmaceuticals in a research report on Sunday, April 19th. They issued a “hold” rating on the stock. Jefferies Financial Group increased their price objective on shares of Regeneron Pharmaceuticals from $657.00 to $691.00 and gave the company a “buy” rating in a research report on Friday, June 12th. Citigroup cut shares of Regeneron Pharmaceuticals from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $540.00 to $575.00 in a research note on Tuesday, April 28th. Finally, Wells Fargo & Co raised shares of Regeneron Pharmaceuticals from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $559.00 to $734.00 in a report on Tuesday, May 26th. Thirteen investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. Regeneron Pharmaceuticals currently has a consensus rating of “Buy” and an average price target of $568.50.
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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