Advisors Capital Management LLC Cuts Position in Regeneron Pharmaceuticals, Inc. $REGN

Advisors Capital Management LLC decreased its holdings in Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) by 46.5% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 921 shares of the biopharmaceutical company’s stock after selling 801 shares during the period. Advisors Capital Management LLC’s holdings in Regeneron Pharmaceuticals were worth $584,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Pinney & Scofield Inc. purchased a new position in Regeneron Pharmaceuticals in the fourth quarter valued at approximately $25,000. E Fund Management Hong Kong Co. Ltd. raised its holdings in Regeneron Pharmaceuticals by 344.4% in the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 40 shares of the biopharmaceutical company’s stock valued at $25,000 after buying an additional 31 shares during the period. Activest Wealth Management raised its holdings in Regeneron Pharmaceuticals by 110.5% in the first quarter. Activest Wealth Management now owns 40 shares of the biopharmaceutical company’s stock valued at $25,000 after buying an additional 21 shares during the period. Costello Asset Management INC purchased a new stake in shares of Regeneron Pharmaceuticals during the first quarter valued at approximately $27,000. Finally, Saudi Central Bank purchased a new stake in shares of Regeneron Pharmaceuticals during the first quarter valued at approximately $27,000. Hedge funds and other institutional investors own 83.31% of the company’s stock.

Analyst Upgrades and Downgrades

REGN has been the topic of a number of analyst reports. Morgan Stanley reiterated an “overweight” rating and set a $761.00 price objective (up previously from $754.00) on shares of Regeneron Pharmaceuticals in a research note on Friday, August 1st. Truist Financial dropped their price objective on shares of Regeneron Pharmaceuticals from $940.00 to $812.00 and set a “buy” rating on the stock in a research note on Monday, August 11th. Sanford C. Bernstein lifted their price objective on shares of Regeneron Pharmaceuticals from $753.00 to $781.00 and gave the company an “outperform” rating in a research note on Wednesday, August 27th. JPMorgan Chase & Co. dropped their price objective on shares of Regeneron Pharmaceuticals from $950.00 to $800.00 and set an “overweight” rating on the stock in a research note on Monday, June 9th. Finally, BMO Capital Markets lifted their price objective on shares of Regeneron Pharmaceuticals from $600.00 to $640.00 and gave the company an “outperform” rating in a research note on Monday, August 4th. Three analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $817.67.

Regeneron Pharmaceuticals Stock Down 1.4%

REGN stock opened at $560.00 on Friday. Regeneron Pharmaceuticals, Inc. has a twelve month low of $476.49 and a twelve month high of $1,170.58. The company has a current ratio of 4.60, a quick ratio of 3.72 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $59.35 billion, a P/E ratio of 14.11, a PEG ratio of 1.90 and a beta of 0.35. The firm has a 50 day simple moving average of $564.61 and a 200-day simple moving average of $579.66.

Regeneron Pharmaceuticals (NASDAQ:REGN) last released its quarterly earnings results on Friday, August 1st. The biopharmaceutical company reported $12.89 earnings per share for the quarter, topping analysts’ consensus estimates of $8.43 by $4.46. Regeneron Pharmaceuticals had a net margin of 31.37% and a return on equity of 15.06%. The business had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $3.30 billion. During the same quarter last year, the company earned $11.56 earnings per share. The business’s quarterly revenue was up 3.6% compared to the same quarter last year. On average, equities research analysts predict that Regeneron Pharmaceuticals, Inc. will post 35.92 earnings per share for the current fiscal year.

Regeneron Pharmaceuticals Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 3rd. Stockholders of record on Monday, August 18th were given a dividend of $0.88 per share. The ex-dividend date of this dividend was Monday, August 18th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 0.6%. Regeneron Pharmaceuticals’s dividend payout ratio (DPR) is presently 8.87%.

Regeneron Pharmaceuticals Company Profile

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.