Raleigh Capital Management Inc. Raises Stock Holdings in Sanofi $SNY

Raleigh Capital Management Inc. boosted its position in shares of Sanofi (NASDAQ:SNY) by 33.4% in the first quarter, HoldingsChannel.com reports. The fund owned 56,770 shares of the company’s stock after acquiring an additional 14,212 shares during the quarter. Sanofi comprises about 0.9% of Raleigh Capital Management Inc.’s portfolio, making the stock its 24th largest holding. Raleigh Capital Management Inc.’s holdings in Sanofi were worth $2,735,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Flagship Harbor Advisors LLC purchased a new position in shares of Sanofi in the fourth quarter worth about $25,000. Physician Wealth Advisors Inc. lifted its holdings in shares of Sanofi by 180.5% during the first quarter. Physician Wealth Advisors Inc. now owns 589 shares of the company’s stock worth $28,000 after purchasing an additional 379 shares during the period. Leonteq Securities AG boosted its position in Sanofi by 95.8% in the first quarter. Leonteq Securities AG now owns 607 shares of the company’s stock valued at $29,000 after buying an additional 297 shares during the last quarter. Measured Wealth Private Client Group LLC purchased a new stake in Sanofi in the third quarter valued at approximately $29,000. Finally, Palisade Asset Management LLC acquired a new position in Sanofi in the 3rd quarter worth approximately $30,000. 14.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Argus raised shares of Sanofi to a “strong-buy” rating in a research report on Monday, April 27th. Sanford C. Bernstein raised shares of Sanofi to a “strong-buy” rating in a report on Thursday, March 19th. Morgan Stanley set a $52.00 price objective on shares of Sanofi in a research note on Friday, May 1st. Weiss Ratings raised shares of Sanofi from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, May 13th. Finally, BNP Paribas Exane downgraded shares of Sanofi from an “outperform” rating to a “neutral” rating and set a $50.00 target price for the company. in a research report on Monday, April 20th. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $51.00.

Sanofi Price Performance

Shares of NASDAQ SNY opened at $43.16 on Friday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.22 and a current ratio of 1.01. The firm has a fifty day moving average of $43.68 and a 200 day moving average of $45.84. The firm has a market cap of $104.64 billion, a PE ratio of 12.06, a PEG ratio of 1.07 and a beta of 0.34. Sanofi has a one year low of $40.89 and a one year high of $52.68.

Sanofi Increases Dividend

The business also recently announced an annual dividend, which was paid on Wednesday, June 3rd. Stockholders of record on Monday, May 4th were paid a dividend of $2.4225 per share. This is an increase from Sanofi’s previous annual dividend of $2.04. This represents a dividend yield of 559.0%. The ex-dividend date of this dividend was Monday, May 4th. Sanofi’s dividend payout ratio is presently 49.16%.

About Sanofi

Sanofi (NASDAQ:SNY) is a multinational pharmaceutical company headquartered in France that researches, develops, manufactures and markets prescription medicines, vaccines and consumer healthcare products. The company operates across multiple therapeutic areas, including immunology, rare diseases, oncology, cardiovascular and metabolic diseases, and vaccines through its Sanofi Pasteur division. Sanofi sells products to hospitals, clinics, governments and retail pharmacies, with a broad global footprint and significant presence in Europe, North America and emerging markets.

Key commercial offerings include specialty biologics and established small-molecule medicines.