Pinnacle Associates Ltd. Has $47.34 Million Holdings in Regeneron Pharmaceuticals, Inc. $REGN

Pinnacle Associates Ltd. lifted its stake in Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) by 22.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 84,191 shares of the biopharmaceutical company’s stock after acquiring an additional 15,265 shares during the period. Pinnacle Associates Ltd. owned approximately 0.08% of Regeneron Pharmaceuticals worth $47,338,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. State Street Corp boosted its holdings in Regeneron Pharmaceuticals by 0.9% in the 2nd quarter. State Street Corp now owns 4,832,002 shares of the biopharmaceutical company’s stock valued at $2,536,801,000 after purchasing an additional 42,343 shares during the period. Dodge & Cox increased its holdings in shares of Regeneron Pharmaceuticals by 64.6% during the 2nd quarter. Dodge & Cox now owns 3,826,283 shares of the biopharmaceutical company’s stock worth $2,008,799,000 after purchasing an additional 1,502,198 shares during the period. Franklin Resources Inc. increased its holdings in shares of Regeneron Pharmaceuticals by 1.6% during the 2nd quarter. Franklin Resources Inc. now owns 2,313,496 shares of the biopharmaceutical company’s stock worth $1,214,585,000 after purchasing an additional 36,821 shares during the period. Loomis Sayles & Co. L P raised its position in shares of Regeneron Pharmaceuticals by 18.6% during the second quarter. Loomis Sayles & Co. L P now owns 1,941,070 shares of the biopharmaceutical company’s stock valued at $1,019,062,000 after buying an additional 305,089 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Regeneron Pharmaceuticals in the second quarter valued at about $628,151,000. Institutional investors own 83.31% of the company’s stock.

Insider Activity

In related news, SVP Jason Pitofsky sold 2,036 shares of the stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $778.52, for a total transaction of $1,585,066.72. Following the completion of the sale, the senior vice president owned 4,272 shares in the company, valued at $3,325,837.44. This trade represents a 32.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Arthur F. Ryan sold 100 shares of the firm’s stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $778.53, for a total transaction of $77,853.00. Following the sale, the director directly owned 17,803 shares of the company’s stock, valued at approximately $13,860,169.59. The trade was a 0.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 5,274 shares of company stock worth $4,142,738 in the last quarter. 7.02% of the stock is owned by company insiders.

Regeneron Pharmaceuticals Trading Down 0.7%

REGN stock opened at $759.82 on Friday. Regeneron Pharmaceuticals, Inc. has a 1-year low of $476.49 and a 1-year high of $821.11. The company has a current ratio of 4.13, a quick ratio of 3.39 and a debt-to-equity ratio of 0.09. The business’s 50 day moving average is $770.81 and its 200-day moving average is $688.75. The firm has a market cap of $80.33 billion, a P/E ratio of 18.28, a P/E/G ratio of 2.04 and a beta of 0.41.

Regeneron Pharmaceuticals (NASDAQ:REGN) last announced its quarterly earnings results on Friday, January 30th. The biopharmaceutical company reported $11.44 EPS for the quarter, beating the consensus estimate of $10.74 by $0.70. Regeneron Pharmaceuticals had a return on equity of 13.04% and a net margin of 31.41%.The business had revenue of $3.88 billion for the quarter, compared to analyst estimates of $3.76 billion. During the same quarter in the previous year, the firm earned $12.07 EPS. Regeneron Pharmaceuticals’s quarterly revenue was up 2.5% on a year-over-year basis. Equities analysts anticipate that Regeneron Pharmaceuticals, Inc. will post 35.92 earnings per share for the current fiscal year.

Regeneron Pharmaceuticals Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 5th. Stockholders of record on Friday, February 20th were issued a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend was Friday, February 20th. This is a positive change from Regeneron Pharmaceuticals’s previous quarterly dividend of $0.88. Regeneron Pharmaceuticals’s payout ratio is currently 9.05%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on REGN. Weiss Ratings restated a “hold (c)” rating on shares of Regeneron Pharmaceuticals in a research note on Monday, December 29th. Canaccord Genuity Group boosted their price objective on Regeneron Pharmaceuticals from $850.00 to $1,057.00 and gave the company a “buy” rating in a research report on Thursday, December 4th. Wall Street Zen lowered Regeneron Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Sunday. Wells Fargo & Company lifted their price target on shares of Regeneron Pharmaceuticals from $745.00 to $800.00 and gave the stock an “equal weight” rating in a research note on Monday, February 2nd. Finally, BMO Capital Markets boosted their price target on shares of Regeneron Pharmaceuticals from $725.00 to $850.00 and gave the company an “outperform” rating in a report on Thursday, December 4th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $802.27.

About Regeneron Pharmaceuticals

Regeneron Pharmaceuticals, Inc (NASDAQ: REGN) is a U.S.-based biotechnology company founded in 1988 and headquartered in Tarrytown, New York. It focuses on discovering, developing, manufacturing and commercializing medicines for serious medical conditions. The company combines laboratory research, clinical development and in-house manufacturing to advance a pipeline of biologic therapies across multiple therapeutic areas.

Regeneron is known for its proprietary drug discovery technologies, including its VelocImmune platform, which is used to generate fully human monoclonal antibodies.