Bank of Nova Scotia Raises Stock Holdings in Regeneron Pharmaceuticals, Inc. $REGN

Bank of Nova Scotia boosted its holdings in Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) by 11.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 278,551 shares of the biopharmaceutical company’s stock after purchasing an additional 29,273 shares during the period. Bank of Nova Scotia owned about 0.27% of Regeneron Pharmaceuticals worth $156,621,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. CoreCap Advisors LLC raised its stake in shares of Regeneron Pharmaceuticals by 9.2% during the 3rd quarter. CoreCap Advisors LLC now owns 238 shares of the biopharmaceutical company’s stock worth $134,000 after purchasing an additional 20 shares during the period. Strait & Sound Wealth Management LLC boosted its holdings in shares of Regeneron Pharmaceuticals by 3.5% in the 3rd quarter. Strait & Sound Wealth Management LLC now owns 628 shares of the biopharmaceutical company’s stock worth $353,000 after buying an additional 21 shares during the last quarter. Parkside Financial Bank & Trust grew its position in Regeneron Pharmaceuticals by 14.8% during the third quarter. Parkside Financial Bank & Trust now owns 163 shares of the biopharmaceutical company’s stock valued at $92,000 after buying an additional 21 shares during the period. MAI Capital Management increased its holdings in Regeneron Pharmaceuticals by 2.1% during the third quarter. MAI Capital Management now owns 1,028 shares of the biopharmaceutical company’s stock worth $578,000 after buying an additional 21 shares during the last quarter. Finally, Independence Bank of Kentucky increased its holdings in Regeneron Pharmaceuticals by 7.7% during the third quarter. Independence Bank of Kentucky now owns 308 shares of the biopharmaceutical company’s stock worth $173,000 after buying an additional 22 shares during the last quarter. Institutional investors own 83.31% of the company’s stock.

Insider Buying and Selling

In other news, SVP Jason Pitofsky sold 2,036 shares of the firm’s stock in a transaction 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 completion of the transaction, the senior vice president directly owned 4,272 shares of the company’s stock, valued at $3,325,837.44. This trade represents a 32.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Arthur F. Ryan sold 100 shares of Regeneron Pharmaceuticals stock in a transaction on Monday, February 9th. The shares were sold at an average price of $778.53, for a total value of $77,853.00. Following the completion of the transaction, the director owned 17,803 shares of the company’s stock, valued at approximately $13,860,169.59. This trade represents a 0.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 5,274 shares of company stock valued at $4,142,738 over the last three months. Insiders own 7.02% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on REGN shares. Oppenheimer reiterated an “outperform” rating and issued a $865.00 target price (up from $750.00) on shares of Regeneron Pharmaceuticals in a research note on Monday, February 2nd. HSBC upgraded shares of Regeneron Pharmaceuticals to a “strong-buy” rating in a research note on Monday, November 24th. Zacks Research cut shares of Regeneron Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Friday, February 6th. Cantor Fitzgerald upped their price objective on Regeneron Pharmaceuticals from $740.00 to $800.00 and gave the company an “overweight” rating in a research note on Monday, February 2nd. Finally, Guggenheim increased their price objective on Regeneron Pharmaceuticals from $865.00 to $975.00 and gave the company a “buy” rating in a report on Monday, February 9th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $802.27.

Regeneron Pharmaceuticals Price Performance

REGN opened at $745.77 on Friday. The firm has a 50-day moving average price of $769.73 and a 200-day moving average price of $694.92. Regeneron Pharmaceuticals, Inc. has a twelve month low of $476.49 and a twelve month high of $821.11. The company has a quick ratio of 3.39, a current ratio of 4.13 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $78.84 billion, a price-to-earnings ratio of 17.94, a PEG ratio of 2.00 and a beta of 0.41.

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

Regeneron Pharmaceuticals Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 5th. Shareholders of record on Friday, February 20th were given a dividend of $0.94 per share. This is an increase from Regeneron Pharmaceuticals’s previous quarterly dividend of $0.88. This represents a $3.76 annualized dividend and a dividend yield of 0.5%. The ex-dividend date was Friday, February 20th. Regeneron Pharmaceuticals’s dividend payout ratio (DPR) is currently 9.05%.

About Regeneron Pharmaceuticals

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.