Bank of Nova Scotia Purchases 126,689 Shares of Regeneron Pharmaceuticals, Inc. $REGN

Bank of Nova Scotia lifted its position in Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) by 103.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 249,278 shares of the biopharmaceutical company’s stock after buying an additional 126,689 shares during the quarter. Bank of Nova Scotia owned about 0.24% of Regeneron Pharmaceuticals worth $130,871,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Activest Wealth Management boosted its holdings in Regeneron Pharmaceuticals by 110.5% during the first quarter. Activest Wealth Management now owns 40 shares of the biopharmaceutical company’s stock valued at $25,000 after acquiring an additional 21 shares during the period. Saudi Central Bank acquired a new position in shares of Regeneron Pharmaceuticals during the 1st quarter worth about $27,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Regeneron Pharmaceuticals during the 2nd quarter valued at approximately $31,000. Colonial Trust Advisors acquired a new stake in Regeneron Pharmaceuticals in the 1st quarter valued at approximately $32,000. Finally, SouthState Corp increased its position in Regeneron Pharmaceuticals by 550.0% in the 1st quarter. SouthState Corp now owns 52 shares of the biopharmaceutical company’s stock worth $33,000 after buying an additional 44 shares during the period. Institutional investors own 83.31% of the company’s stock.

Insiders Place Their Bets

In related news, VP Jason Pitofsky sold 431 shares of Regeneron Pharmaceuticals stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $651.43, for a total value of $280,766.33. Following the completion of the transaction, the vice president directly owned 4,233 shares of the company’s stock, valued at $2,757,503.19. The trade was a 9.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Christine A. Poon sold 6,500 shares of the stock in a transaction dated Wednesday, October 29th. The stock was sold at an average price of $654.27, for a total transaction of $4,252,755.00. Following the sale, the director directly owned 2,352 shares in the company, valued at approximately $1,538,843.04. This represents a 73.43% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 7.02% of the company’s stock.

Regeneron Pharmaceuticals Price Performance

Shares of Regeneron Pharmaceuticals stock opened at $718.36 on Monday. The stock has a market capitalization of $75.50 billion, a price-to-earnings ratio of 17.20, a P/E/G ratio of 2.06 and a beta of 0.37. The firm’s 50-day moving average price is $650.69 and its two-hundred day moving average price is $588.24. The company has a current ratio of 4.06, a quick ratio of 3.33 and a debt-to-equity ratio of 0.09. Regeneron Pharmaceuticals, Inc. has a 1-year low of $476.49 and a 1-year high of $800.99.

Regeneron Pharmaceuticals (NASDAQ:REGN) last announced its earnings results on Tuesday, October 28th. The biopharmaceutical company reported $11.83 EPS for the quarter, topping the consensus estimate of $9.73 by $2.10. Regeneron Pharmaceuticals had a return on equity of 13.76% and a net margin of 32.13%.The business had revenue of $3.75 billion for the quarter, compared to the consensus estimate of $3.57 billion. During the same period in the previous year, the business earned $12.46 EPS. Regeneron Pharmaceuticals’s revenue was up .9% compared to the same quarter last year. On average, equities analysts predict that Regeneron Pharmaceuticals, Inc. will post 35.92 earnings per share for the current fiscal year.

Regeneron Pharmaceuticals Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 5th. Stockholders of record on Thursday, November 20th were issued a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 0.5%. The ex-dividend date was Thursday, November 20th. Regeneron Pharmaceuticals’s dividend payout ratio is presently 8.43%.

Wall Street Analysts Forecast Growth

REGN has been the subject of a number of research analyst reports. Cantor Fitzgerald upped their price target on Regeneron Pharmaceuticals from $678.00 to $740.00 and gave the stock an “overweight” rating in a report on Wednesday, October 29th. Redburn Atlantic upgraded shares of Regeneron Pharmaceuticals to a “strong-buy” rating in a research note on Thursday, August 14th. Rothschild & Co Redburn began coverage on shares of Regeneron Pharmaceuticals in a research report on Thursday, August 14th. They issued a “buy” rating and a $890.00 price target on the stock. Citigroup upped their price objective on shares of Regeneron Pharmaceuticals from $660.00 to $700.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Finally, Truist Financial assumed coverage on shares of Regeneron Pharmaceuticals in a research note on Monday, November 24th. They issued a “buy” rating and a $798.00 target price for the company. Three analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $777.36.

About Regeneron Pharmaceuticals

Regeneron Pharmaceuticals, Inc discovers, invents, develops, manufactures, and commercializes medicines for treating various diseases worldwide. The company's products include EYLEA injection to treat wet age-related macular degeneration and diabetic macular edema; myopic choroidal neovascularization; diabetic retinopathy; neovascular glaucoma; and retinopathy of prematurity.