Sumitomo Mitsui Trust Group Inc. Lowers Stake in Regeneron Pharmaceuticals, Inc. $REGN

Sumitomo Mitsui Trust Group Inc. cut its position in shares of Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) by 4.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 273,669 shares of the biopharmaceutical company’s stock after selling 11,362 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Regeneron Pharmaceuticals were worth $211,448,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Resona Asset Management Co. Ltd. lifted its stake in shares of Regeneron Pharmaceuticals by 0.3% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 32,060 shares of the biopharmaceutical company’s stock valued at $24,636,000 after purchasing an additional 106 shares in the last quarter. Seelaus Asset Management LLC acquired a new stake in Regeneron Pharmaceuticals during the 1st quarter worth approximately $275,000. Childress Capital Advisors LLC increased its position in Regeneron Pharmaceuticals by 38.6% during the 1st quarter. Childress Capital Advisors LLC now owns 567 shares of the biopharmaceutical company’s stock worth $438,000 after purchasing an additional 158 shares in the last quarter. Flatrock Wealth Partners LLC purchased a new position in Regeneron Pharmaceuticals in the first quarter valued at approximately $291,000. Finally, Jackson Thornton Wealth Management LLC raised its holdings in Regeneron Pharmaceuticals by 10.2% in the first quarter. Jackson Thornton Wealth Management LLC now owns 1,091 shares of the biopharmaceutical company’s stock valued at $817,000 after buying an additional 101 shares during the period. 83.31% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Citigroup downgraded shares of Regeneron Pharmaceuticals from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $900.00 to $700.00 in a research note on Monday, May 18th. Piper Sandler cut their target price on shares of Regeneron Pharmaceuticals from $855.00 to $854.00 and set an “overweight” rating on the stock in a research note on Thursday. Royal Bank Of Canada reduced their target price on shares of Regeneron Pharmaceuticals from $707.00 to $696.00 and set a “sector perform” rating on the stock in a report on Tuesday. HSBC decreased their price target on shares of Regeneron Pharmaceuticals from $990.00 to $880.00 and set a “buy” rating for the company in a research report on Monday. Finally, Guggenheim raised their price objective on Regeneron Pharmaceuticals from $975.00 to $995.00 and gave the company a “buy” rating in a research report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat, Regeneron Pharmaceuticals has an average rating of “Moderate Buy” and an average target price of $787.67.

Regeneron Pharmaceuticals Stock Performance

Shares of REGN stock opened at $667.95 on Friday. Regeneron Pharmaceuticals, Inc. has a 12 month low of $541.00 and a 12 month high of $821.11. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.57 and a quick ratio of 2.96. The firm has a market capitalization of $70.62 billion, a P/E ratio of 16.28, a P/E/G ratio of 1.46 and a beta of 0.24. The company’s fifty day moving average price is $645.74 and its two-hundred day moving average price is $722.80.

Regeneron Pharmaceuticals (NASDAQ:REGN) last posted its quarterly earnings data on Wednesday, April 29th. The biopharmaceutical company reported $9.47 earnings per share for the quarter, beating analysts’ consensus estimates of $8.91 by $0.56. The company had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $3.48 billion. Regeneron Pharmaceuticals had a net margin of 29.65% and a return on equity of 13.16%. The firm’s revenue for the quarter was up 19.0% on a year-over-year basis. During the same period in the prior year, the company posted $8.22 EPS. On average, research analysts anticipate that Regeneron Pharmaceuticals, Inc. will post 37.4 earnings per share for the current fiscal year.

Regeneron Pharmaceuticals Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Wednesday, May 20th were paid a $0.94 dividend. The ex-dividend date was Wednesday, May 20th. This represents a $3.76 annualized dividend and a dividend yield of 0.6%. Regeneron Pharmaceuticals’s payout ratio is 9.16%.

Insider Buying and Selling

In related news, Director Arthur F. Ryan sold 200 shares of the stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $650.15, for a total value of $130,030.00. Following the completion of the transaction, the director owned 17,303 shares of the company’s stock, valued at approximately $11,249,545.45. This represents a 1.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 6.97% of the company’s stock.

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.