PNC Financial Services Group Inc. Has $9.74 Million Stock Holdings in Regeneron Pharmaceuticals, Inc. $REGN

PNC Financial Services Group Inc. grew its position in Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) by 17.7% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 17,316 shares of the biopharmaceutical company’s stock after acquiring an additional 2,601 shares during the period. PNC Financial Services Group Inc.’s holdings in Regeneron Pharmaceuticals were worth $9,736,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in REGN. Salomon & Ludwin LLC bought a new stake in shares of Regeneron Pharmaceuticals in the third quarter worth about $27,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Regeneron Pharmaceuticals in the 2nd quarter valued at approximately $31,000. Traub Capital Management LLC bought a new stake in Regeneron Pharmaceuticals during the 2nd quarter worth approximately $38,000. Berbice Capital Management LLC raised its holdings in Regeneron Pharmaceuticals by 300.0% during the 2nd quarter. Berbice Capital Management LLC now owns 80 shares of the biopharmaceutical company’s stock worth $42,000 after buying an additional 60 shares during the period. Finally, E Fund Management Hong Kong Co. Ltd. lifted its stake in Regeneron Pharmaceuticals by 87.5% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 75 shares of the biopharmaceutical company’s stock valued at $42,000 after buying an additional 35 shares in the last quarter. Institutional investors and hedge funds own 83.31% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on REGN shares. Royal Bank Of Canada increased their price objective on shares of Regeneron Pharmaceuticals from $704.00 to $708.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 29th. Scotiabank increased their target price on Regeneron Pharmaceuticals from $650.00 to $770.00 and gave the stock a “sector perform” rating in a report on Monday, November 24th. JPMorgan Chase & Co. boosted their price target on Regeneron Pharmaceuticals from $850.00 to $950.00 and gave the company an “overweight” rating in a report on Monday, February 2nd. Cantor Fitzgerald increased their price objective on Regeneron Pharmaceuticals from $740.00 to $800.00 and gave the stock an “overweight” rating in a report on Monday, February 2nd. Finally, HSBC upgraded Regeneron Pharmaceuticals to a “strong-buy” rating in a research note on Monday, November 24th. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $793.81.

Regeneron Pharmaceuticals Stock Down 0.2%

REGN stock opened at $792.16 on Thursday. The company has a market cap of $83.75 billion, a price-to-earnings ratio of 19.06, a P/E/G ratio of 2.13 and a beta of 0.40. Regeneron Pharmaceuticals, Inc. has a twelve month low of $476.49 and a twelve month high of $821.11. The business has a 50 day moving average price of $767.50 and a two-hundred day moving average price of $670.90. The company has a quick ratio of 3.39, a current ratio of 4.13 and a debt-to-equity ratio of 0.09.

Regeneron Pharmaceuticals (NASDAQ:REGN) last released its quarterly earnings data on Friday, January 30th. The biopharmaceutical company reported $11.44 EPS for the quarter, beating the consensus estimate of $10.74 by $0.70. Regeneron Pharmaceuticals had a return on equity of 13.04% and a net margin of 31.41%.The company had revenue of $3.88 billion during the quarter, compared to the consensus estimate of $3.76 billion. During the same quarter in the prior year, the firm posted $12.07 EPS. The firm’s revenue for the quarter was up 2.5% compared to the same quarter last year. Analysts anticipate that Regeneron Pharmaceuticals, Inc. will post 35.92 EPS for the current fiscal year.

Regeneron Pharmaceuticals Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 5th. Investors of record on Friday, February 20th will be paid a $0.94 dividend. This is an increase from Regeneron Pharmaceuticals’s previous quarterly dividend of $0.88. The ex-dividend date is Friday, February 20th. This represents a $3.76 annualized dividend and a yield of 0.5%. Regeneron Pharmaceuticals’s dividend payout ratio (DPR) is 8.47%.

Insider Buying and Selling

In other Regeneron Pharmaceuticals news, SVP Jason Pitofsky sold 2,036 shares of the company’s stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $778.52, for a total value of $1,585,066.72. Following the sale, the senior vice president owned 4,272 shares in the company, valued at $3,325,837.44. This represents a 32.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Bonnie L. Bassler sold 1,500 shares of Regeneron Pharmaceuticals stock in a transaction that occurred on Wednesday, January 7th. The stock was sold at an average price of $800.00, for a total value of $1,200,000.00. Following the transaction, the director owned 1,703 shares of the company’s stock, valued at $1,362,400. This represents a 46.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 3,636 shares of company stock worth $2,862,920. Company insiders own 7.02% of the company’s stock.

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.