Connor Clark & Lunn Investment Management Ltd. Invests $26.48 Million in Regeneron Pharmaceuticals, Inc. $REGN
by Tristan Rich · The Markets DailyConnor Clark & Lunn Investment Management Ltd. acquired a new stake in Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN – Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 42,465 shares of the biopharmaceutical company’s stock, valued at approximately $26,479,000.
A number of other hedge funds have also made changes to their positions in the stock. Meiji Yasuda Asset Management Co Ltd. bought a new stake in Regeneron Pharmaceuticals during the second quarter worth approximately $260,000. Forefront Analytics LLC bought a new position in Regeneron Pharmaceuticals during the 2nd quarter valued at $259,000. Te Ahumairangi Investment Management Ltd bought a new position in Regeneron Pharmaceuticals during the 2nd quarter valued at $3,423,000. Clear Harbor Asset Management LLC acquired a new position in shares of Regeneron Pharmaceuticals during the 2nd quarter valued at $4,745,000. Finally, Bank of Nova Scotia acquired a new position in shares of Regeneron Pharmaceuticals during the 2nd quarter valued at $113,301,000. Institutional investors and hedge funds own 83.31% of the company’s stock.
Insider Buying and Selling
In other Regeneron Pharmaceuticals news, Director Huda Y. Zoghbi sold 800 shares of the firm’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $800.00, for a total value of $640,000.00. Following the completion of the transaction, the director directly owned 1,703 shares in the company, valued at $1,362,400. This trade represents a 31.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Arthur F. Ryan sold 200 shares of Regeneron Pharmaceuticals stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $650.15, for a total transaction of $130,030.00. Following the completion of the transaction, the director directly owned 17,303 shares in the company, valued at approximately $11,249,545.45. This trade represents a 1.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 1,400 shares of company stock valued at $1,090,030. 6.97% of the stock is owned by corporate insiders.
Regeneron Pharmaceuticals Price Performance
Shares of NASDAQ:REGN opened at $828.50 on Tuesday. The company has a market capitalization of $85.30 billion, a PE ratio of 20.48, a price-to-earnings-growth ratio of 1.42 and a beta of 0.22. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.78 and a current ratio of 3.34. The stock has a fifty day moving average of $701.36 and a 200-day moving average of $716.94. Regeneron Pharmaceuticals, Inc. has a one year low of $541.00 and a one year high of $847.00.
Regeneron Pharmaceuticals (NASDAQ:REGN – Get Free Report) last issued its earnings results on Thursday, July 30th. The biopharmaceutical company reported $14.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.16 by $4.13. The business had revenue of $4.29 billion for the quarter, compared to analysts’ expectations of $3.82 billion. Regeneron Pharmaceuticals had a return on equity of 13.47% and a net margin of 27.86%.The company’s quarterly revenue was up 16.7% on a year-over-year basis. During the same period in the previous year, the firm posted $12.81 EPS. As a group, equities analysts anticipate that Regeneron Pharmaceuticals, Inc. will post 44.25 EPS for the current fiscal year.
Regeneron Pharmaceuticals Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Tuesday, August 18th will be paid a $0.94 dividend. The ex-dividend date of this dividend is Tuesday, August 18th. This represents a $3.76 dividend on an annualized basis and a yield of 0.5%. Regeneron Pharmaceuticals’s dividend payout ratio (DPR) is currently 9.29%.
Analyst Upgrades and Downgrades
A number of analysts have recently commented on REGN shares. Wells Fargo & Company boosted their price objective on Regeneron Pharmaceuticals from $700.00 to $750.00 and gave the stock an “equal weight” rating in a research note on Friday, July 31st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Regeneron Pharmaceuticals in a report on Wednesday, June 24th. Piper Sandler dropped their price target on shares of Regeneron Pharmaceuticals from $855.00 to $854.00 and set an “overweight” rating on the stock in a research report on Thursday, July 9th. Cantor Fitzgerald upped their price target on shares of Regeneron Pharmaceuticals from $750.00 to $795.00 and gave the company an “overweight” rating in a report on Friday, July 31st. Finally, Guggenheim raised their price objective on shares of Regeneron Pharmaceuticals from $1,000.00 to $1,030.00 and gave the company a “buy” rating in a research report on Monday, August 3rd. Sixteen equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $801.70.
View Our Latest Report on REGN
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.
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