Tocqueville Asset Management L.P. Sells 6,884 Shares of Regeneron Pharmaceuticals, Inc. $REGN

Tocqueville Asset Management L.P. lessened its holdings in Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) by 11.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 54,218 shares of the biopharmaceutical company’s stock after selling 6,884 shares during the quarter. Tocqueville Asset Management L.P. owned 0.05% of Regeneron Pharmaceuticals worth $30,485,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in REGN. Osaic Holdings Inc. grew its holdings in shares of Regeneron Pharmaceuticals by 55.2% in the 2nd quarter. Osaic Holdings Inc. now owns 17,068 shares of the biopharmaceutical company’s stock valued at $9,607,000 after acquiring an additional 6,073 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its holdings in Regeneron Pharmaceuticals by 153.4% during the third quarter. Robeco Institutional Asset Management B.V. now owns 120,884 shares of the biopharmaceutical company’s stock worth $67,969,000 after acquiring an additional 73,176 shares in the last quarter. PGGM Investments boosted its position in Regeneron Pharmaceuticals by 9.7% during the third quarter. PGGM Investments now owns 92,584 shares of the biopharmaceutical company’s stock valued at $52,057,000 after purchasing an additional 8,187 shares during the last quarter. Sound Shore Management Inc CT acquired a new position in Regeneron Pharmaceuticals during the third quarter valued at approximately $64,677,000. Finally, Rakuten Investment Management Inc. bought a new position in Regeneron Pharmaceuticals in the third quarter valued at approximately $33,121,000. Institutional investors own 83.31% of the company’s stock.

Insider Activity at Regeneron Pharmaceuticals

In related news, SVP Jason Pitofsky sold 2,036 shares of Regeneron Pharmaceuticals 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 of the company’s stock, valued at approximately $3,325,837.44. The trade was a 32.28% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Bonnie L. Bassler sold 1,500 shares of the company’s stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $800.00, for a total transaction of $1,200,000.00. Following the completion of the transaction, the director owned 1,703 shares in the company, valued at approximately $1,362,400. This trade represents a 46.83% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 5,274 shares of company stock valued at $4,142,738 over the last three months. Company insiders own 7.02% of the company’s stock.

Regeneron Pharmaceuticals Stock Performance

Shares of REGN traded down $0.69 during mid-day trading on Friday, reaching $745.92. The company’s stock had a trading volume of 79,174 shares, compared to its average volume of 781,699. The company has a current ratio of 4.13, a quick ratio of 3.39 and a debt-to-equity ratio of 0.09. Regeneron Pharmaceuticals, Inc. has a 1-year low of $476.49 and a 1-year high of $821.11. The business has a 50-day simple moving average of $770.34 and a two-hundred day simple moving average of $692.97. The stock has a market cap of $78.86 billion, a P/E ratio of 17.97, a PEG ratio of 2.08 and a beta of 0.41.

Regeneron Pharmaceuticals (NASDAQ:REGN) last posted its earnings results on Friday, January 30th. The biopharmaceutical company reported $11.44 earnings per share for the quarter, topping analysts’ consensus estimates 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 period in the previous year, the firm earned $12.07 EPS. The firm’s revenue was up 2.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Regeneron Pharmaceuticals, Inc. will post 35.92 earnings per share for the current fiscal year.

Regeneron Pharmaceuticals Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 5th. Shareholders of record on Friday, February 20th were issued a $0.94 dividend. This is an increase from Regeneron Pharmaceuticals’s previous quarterly dividend of $0.88. This represents a $3.76 annualized dividend and a dividend yield of 0.5%. The ex-dividend date was Friday, February 20th. Regeneron Pharmaceuticals’s dividend payout ratio is presently 9.05%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on REGN shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Regeneron Pharmaceuticals in a research report on Monday, December 29th. Scotiabank raised their target price on shares of Regeneron Pharmaceuticals from $650.00 to $770.00 and gave the company a “sector perform” rating in a research note on Monday, November 24th. Wells Fargo & Company boosted their target price on shares of Regeneron Pharmaceuticals from $745.00 to $800.00 and gave the stock an “equal weight” rating in a report on Monday, February 2nd. HSBC began coverage on shares of Regeneron Pharmaceuticals in a research report on Monday, November 24th. They set a “buy” rating and a $255.00 price target on the stock. Finally, Truist Financial cut their price target on shares of Regeneron Pharmaceuticals from $820.00 to $818.00 and set a “buy” rating for the company in a research note on Monday, February 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $802.27.

Regeneron Pharmaceuticals Profile

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.