Legal & General Group Plc Grows Stock Holdings in Regeneron Pharmaceuticals, Inc. $REGN

Legal & General Group Plc lifted its stake in Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) by 4.2% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 770,359 shares of the biopharmaceutical company’s stock after purchasing an additional 30,778 shares during the quarter. Legal & General Group Plc owned about 0.73% of Regeneron Pharmaceuticals worth $433,150,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Dodge & Cox raised its stake in shares of Regeneron Pharmaceuticals by 64.6% in the second quarter. Dodge & Cox now owns 3,826,283 shares of the biopharmaceutical company’s stock valued at $2,008,799,000 after acquiring an additional 1,502,198 shares in the last quarter. Norges Bank purchased a new position in shares of Regeneron Pharmaceuticals in the 2nd quarter valued at about $628,151,000. Loomis Sayles & Co. L P grew 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 worth $1,019,062,000 after buying an additional 305,089 shares in the last quarter. Invesco Ltd. increased its stake in shares of Regeneron Pharmaceuticals by 26.5% during the second quarter. Invesco Ltd. now owns 1,075,824 shares of the biopharmaceutical company’s stock worth $564,808,000 after buying an additional 225,078 shares during the period. Finally, Federated Hermes Inc. increased its stake in shares of Regeneron Pharmaceuticals by 491.2% during the second quarter. Federated Hermes Inc. now owns 245,587 shares of the biopharmaceutical company’s stock worth $128,933,000 after buying an additional 204,045 shares during the period. Institutional investors own 83.31% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on REGN shares. Canaccord Genuity Group lifted their price target on shares of Regeneron Pharmaceuticals from $850.00 to $1,057.00 and gave the stock a “buy” rating in a research note on Thursday, December 4th. Weiss Ratings restated a “hold (c)” rating on shares of Regeneron Pharmaceuticals in a report on Monday, December 29th. Scotiabank lifted their price objective on shares of Regeneron Pharmaceuticals from $650.00 to $770.00 and gave the stock a “sector perform” rating in a research report on Monday, November 24th. Cantor Fitzgerald boosted their target price on shares of Regeneron Pharmaceuticals from $740.00 to $800.00 and gave the stock an “overweight” rating in a research note on Monday, February 2nd. Finally, Truist Financial dropped their target price on Regeneron Pharmaceuticals from $820.00 to $818.00 and set a “buy” rating on the stock in a report on Monday, February 2nd. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $802.27.

Insider Activity

In related news, SVP Jason Pitofsky sold 2,036 shares of the business’s stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $778.52, for a total value of $1,585,066.72. Following the completion of the sale, the senior vice president directly owned 4,272 shares in the company, valued at approximately $3,325,837.44. The trade was a 32.28% 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 the SEC website. Also, Director Huda Y. Zoghbi sold 1,638 shares of the business’s stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $781.33, for a total value of $1,279,818.54. Following the sale, the director owned 1,703 shares of the company’s stock, valued at $1,330,604.99. The trade was a 49.03% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 5,274 shares of company stock valued at $4,142,738 over the last quarter. 7.02% of the stock is currently owned by company insiders.

Regeneron Pharmaceuticals Stock Performance

Shares of REGN opened at $772.03 on Wednesday. Regeneron Pharmaceuticals, Inc. has a 1 year low of $476.49 and a 1 year high of $821.11. The company has a debt-to-equity ratio of 0.09, a quick ratio of 3.39 and a current ratio of 4.13. The company’s fifty day moving average is $770.79 and its two-hundred day moving average is $692.02. The stock has a market capitalization of $81.62 billion, a P/E ratio of 18.58, a P/E/G ratio of 2.10 and a beta of 0.41.

Regeneron Pharmaceuticals (NASDAQ:REGN) last announced its quarterly earnings data 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 firm had revenue of $3.88 billion for the quarter, compared to analyst estimates of $3.76 billion. During the same quarter in the prior year, the company posted $12.07 earnings per share. Regeneron Pharmaceuticals’s quarterly revenue was up 2.5% on a year-over-year basis. On average, sell-side analysts predict that Regeneron Pharmaceuticals, Inc. will post 35.92 earnings per share for the current year.

Regeneron Pharmaceuticals Increases Dividend

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

Regeneron Pharmaceuticals Company 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.