Citigroup Inc. Lowers Holdings in Regeneron Pharmaceuticals, Inc. $REGN

Citigroup Inc. reduced its stake in shares of Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) by 25.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 138,191 shares of the biopharmaceutical company’s stock after selling 46,055 shares during the quarter. Citigroup Inc. owned about 0.13% of Regeneron Pharmaceuticals worth $77,701,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. State Street Corp grew its stake in Regeneron Pharmaceuticals by 0.9% during the second quarter. State Street Corp now owns 4,832,002 shares of the biopharmaceutical company’s stock valued at $2,536,801,000 after acquiring an additional 42,343 shares in the last quarter. Dodge & Cox boosted its holdings in shares of Regeneron Pharmaceuticals by 64.6% during the 2nd quarter. Dodge & Cox now owns 3,826,283 shares of the biopharmaceutical company’s stock valued at $2,008,799,000 after purchasing an additional 1,502,198 shares during the last quarter. Franklin Resources Inc. grew its position in shares of Regeneron Pharmaceuticals by 1.6% during the second quarter. Franklin Resources Inc. now owns 2,313,496 shares of the biopharmaceutical company’s stock valued at $1,214,585,000 after purchasing an additional 36,821 shares in the last quarter. 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 valued at $1,019,062,000 after purchasing an additional 305,089 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Regeneron Pharmaceuticals in the second quarter worth about $628,151,000. Hedge funds and other institutional investors own 83.31% of the company’s stock.

Regeneron Pharmaceuticals Stock Performance

Shares of NASDAQ:REGN opened at $779.67 on Monday. The company has a current ratio of 4.13, a quick ratio of 3.39 and a debt-to-equity ratio of 0.09. Regeneron Pharmaceuticals, Inc. has a 12 month low of $476.49 and a 12 month high of $821.11. The company has a market capitalization of $82.43 billion, a price-to-earnings ratio of 18.76, a PEG ratio of 2.09 and a beta of 0.40. The firm’s 50-day moving average is $768.98 and its 200 day moving average is $674.68.

Regeneron Pharmaceuticals (NASDAQ:REGN) last released its earnings results 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 business had revenue of $3.88 billion for the quarter, compared to analyst estimates of $3.76 billion. During the same quarter last year, the firm posted $12.07 earnings per share. The business’s revenue was up 2.5% compared to the same quarter last year. Research analysts predict that Regeneron Pharmaceuticals, Inc. will post 35.92 EPS for the current year.

Regeneron Pharmaceuticals Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 5th. Stockholders of record on Friday, February 20th will be paid a dividend of $0.94 per share. This is a boost 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%. The ex-dividend date is Friday, February 20th. Regeneron Pharmaceuticals’s payout ratio is 9.05%.

Insider Buying and Selling

In related news, Director Bonnie L. Bassler sold 1,500 shares of the company’s stock in a transaction on Wednesday, January 7th. The stock was sold at an average price of $800.00, for a total transaction of $1,200,000.00. Following the completion of the sale, the director directly owned 1,703 shares in the company, valued at $1,362,400. This represents a 46.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Jason Pitofsky sold 2,036 shares of the firm’s stock in a transaction dated 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 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 position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 3,636 shares of company stock valued at $2,862,920 over the last 90 days. Corporate insiders own 7.02% of the company’s stock.

Wall Street Analyst Weigh In

REGN has been the subject of several research analyst reports. Evercore raised their price target on Regeneron Pharmaceuticals from $750.00 to $875.00 and gave the company an “outperform” rating in a report on Thursday, January 22nd. Wall Street Zen lowered shares of Regeneron Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Monday, February 16th. Citigroup boosted their price target on shares of Regeneron Pharmaceuticals from $660.00 to $700.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. Royal Bank Of Canada increased their price objective on shares of Regeneron Pharmaceuticals from $704.00 to $708.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 29th. Finally, Truist Financial dropped their price objective on shares of Regeneron Pharmaceuticals from $820.00 to $818.00 and set a “buy” rating for the company in a research note on Monday, February 2nd. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $793.81.

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.