Meritage Portfolio Management Increases Stake in Regeneron Pharmaceuticals, Inc. $REGN

Meritage Portfolio Management raised its stake in Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) by 82.8% in the third quarter, HoldingsChannel reports. The fund owned 20,941 shares of the biopharmaceutical company’s stock after purchasing an additional 9,486 shares during the period. Regeneron Pharmaceuticals accounts for approximately 0.8% of Meritage Portfolio Management’s investment portfolio, making the stock its 27th largest holding. Meritage Portfolio Management’s holdings in Regeneron Pharmaceuticals were worth $11,774,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Salomon & Ludwin LLC acquired a new position in shares of Regeneron Pharmaceuticals in the 3rd quarter valued at $27,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Regeneron Pharmaceuticals in the second quarter valued at $31,000. Traub Capital Management LLC acquired a new position in shares of Regeneron Pharmaceuticals in the second quarter worth about $38,000. Berbice Capital Management LLC boosted its stake in shares of Regeneron Pharmaceuticals by 300.0% during the 2nd quarter. Berbice Capital Management LLC now owns 80 shares of the biopharmaceutical company’s stock worth $42,000 after acquiring an additional 60 shares in the last quarter. Finally, E Fund Management Hong Kong Co. Ltd. grew its position in shares of Regeneron Pharmaceuticals by 87.5% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 75 shares of the biopharmaceutical company’s stock valued at $42,000 after acquiring an additional 35 shares during the period. 83.31% of the stock is owned by hedge funds and other institutional investors.

Regeneron Pharmaceuticals Price Performance

Shares of NASDAQ REGN opened at $754.14 on Thursday. The firm has a 50-day simple moving average of $745.46 and a 200-day simple moving average of $633.82. The company has a quick ratio of 3.33, a current ratio of 4.06 and a debt-to-equity ratio of 0.09. The stock has a market capitalization of $79.26 billion, a price-to-earnings ratio of 18.06, a price-to-earnings-growth ratio of 1.98 and a beta of 0.39. Regeneron Pharmaceuticals, Inc. has a 52 week low of $476.49 and a 52 week high of $821.11.

Regeneron Pharmaceuticals (NASDAQ:REGN) last posted its quarterly earnings results on Tuesday, October 28th. The biopharmaceutical company reported $11.83 earnings per share for the quarter, topping analysts’ consensus estimates of $9.73 by $2.10. Regeneron Pharmaceuticals had a net margin of 32.13% and a return on equity of 13.76%. The firm had revenue of $3.75 billion for the quarter, compared to analyst estimates of $3.57 billion. During the same period in the previous year, the business posted $12.46 earnings per share. Regeneron Pharmaceuticals’s quarterly revenue was up .9% on a year-over-year basis. On average, equities analysts predict that Regeneron Pharmaceuticals, Inc. will post 35.92 earnings per share for the current fiscal year.

Regeneron Pharmaceuticals Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 5th. Stockholders of record on Thursday, November 20th were given a $0.88 dividend. The ex-dividend date was Thursday, November 20th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 0.5%. Regeneron Pharmaceuticals’s dividend payout ratio is 8.43%.

Insider Activity

In related news, VP Jason Pitofsky sold 431 shares of the stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $651.43, for a total value of $280,766.33. Following the completion of the sale, the vice president owned 4,233 shares of the company’s stock, valued at approximately $2,757,503.19. This trade represents a 9.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Christine A. Poon sold 6,500 shares of Regeneron Pharmaceuticals stock in a transaction that occurred on Wednesday, October 29th. The stock was sold at an average price of $654.27, for a total value of $4,252,755.00. Following the transaction, the director owned 2,352 shares in the company, valued at approximately $1,538,843.04. The trade was a 73.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 8,431 shares of company stock worth $5,733,521 over the last ninety days. Corporate insiders own 7.02% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. Cantor Fitzgerald upped their price target on Regeneron Pharmaceuticals from $678.00 to $740.00 and gave the stock an “overweight” rating in a report on Wednesday, October 29th. Wells Fargo & Company upped their target price on Regeneron Pharmaceuticals from $700.00 to $745.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 10th. Hsbc Global Res upgraded Regeneron Pharmaceuticals to a “strong-buy” rating in a research report on Monday, November 24th. Wall Street Zen raised shares of Regeneron Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Saturday, January 10th. Finally, Scotiabank increased their price objective on shares of Regeneron Pharmaceuticals from $650.00 to $770.00 and gave the company a “sector perform” rating in a report on Monday, November 24th. Four investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $791.05.

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.