Bank of New York Mellon Corp Sells 1,452,581 Shares of Sanofi $SNY

Bank of New York Mellon Corp lowered its stake in Sanofi (NASDAQ:SNY) by 74.7% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 492,642 shares of the company’s stock after selling 1,452,581 shares during the period. Bank of New York Mellon Corp’s holdings in Sanofi were worth $23,800,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD grew its stake in shares of Sanofi by 1.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 11,036,878 shares of the company’s stock worth $612,106,000 after acquiring an additional 193,196 shares during the last quarter. Federated Hermes Inc. boosted its stake in Sanofi by 58.5% in the 1st quarter. Federated Hermes Inc. now owns 3,947,583 shares of the company’s stock worth $218,933,000 after purchasing an additional 1,456,269 shares in the last quarter. Envestnet Asset Management Inc. grew its position in Sanofi by 4.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 3,434,999 shares of the company’s stock valued at $165,945,000 after purchasing an additional 157,605 shares during the last quarter. Raymond James Financial Inc. increased its stake in Sanofi by 15.1% during the 1st quarter. Raymond James Financial Inc. now owns 3,244,027 shares of the company’s stock valued at $179,914,000 after purchasing an additional 425,597 shares in the last quarter. Finally, Nuveen LLC purchased a new position in Sanofi in the first quarter worth about $177,831,000. Hedge funds and other institutional investors own 14.03% of the company’s stock.

Sanofi Trading Down 0.4%

Shares of SNY stock opened at $52.14 on Friday. Sanofi has a 1 year low of $44.62 and a 1 year high of $60.12. The firm has a fifty day moving average price of $49.00 and a 200-day moving average price of $49.44. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.06 and a quick ratio of 0.94. The company has a market cap of $128.03 billion, a price-to-earnings ratio of 12.21, a PEG ratio of 1.38 and a beta of 0.49.

Sanofi (NASDAQ:SNY) last announced its earnings results on Friday, October 24th. The company reported $1.70 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.10. The company had revenue of $14.53 billion for the quarter, compared to analysts’ expectations of $12.62 billion. Sanofi had a return on equity of 12.70% and a net margin of 21.96%.Sanofi’s revenue for the quarter was down 7.5% compared to the same quarter last year. During the same period last year, the firm earned $2.25 EPS. As a group, equities analysts predict that Sanofi will post 4.36 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Sanofi in a report on Tuesday. Wall Street Zen upgraded Sanofi from a “hold” rating to a “buy” rating in a research note on Saturday, August 2nd. Deutsche Bank Aktiengesellschaft raised Sanofi from a “hold” rating to a “buy” rating in a report on Tuesday, September 2nd. JPMorgan Chase & Co. raised Sanofi from a “neutral” rating to an “overweight” rating in a report on Friday, August 8th. Finally, Morgan Stanley upgraded Sanofi from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $56.00 to $58.00 in a report on Monday, September 8th. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $62.67.

Sanofi Profile

Sanofi, a healthcare company, engages in the research, development, manufacture, and marketing of therapeutic solutions in the United States, Europe, Canada, and internationally. It operates through Pharmaceuticals, Vaccines, and Consumer Healthcare segments. The company provides specialty care, such as DUPIXENT, neurology and immunology, rare diseases, oncology, and rare blood disorders; medicines for diabetes and cardiovascular diseases; and established prescription products.