Pictet Asset Management Holding SA Boosts Stock Holdings in Sanofi $SNY

Pictet Asset Management Holding SA lifted its holdings in Sanofi (NASDAQ:SNY) by 8.7% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 678,092 shares of the company’s stock after purchasing an additional 54,081 shares during the period. Pictet Asset Management Holding SA’s holdings in Sanofi were worth $31,680,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Brighton Jones LLC raised its stake in Sanofi by 52.6% in the fourth quarter. Brighton Jones LLC now owns 5,420 shares of the company’s stock worth $261,000 after buying an additional 1,869 shares in the last quarter. AQR Capital Management LLC boosted its position in Sanofi by 107.2% during the 1st quarter. AQR Capital Management LLC now owns 30,518 shares of the company’s stock valued at $1,693,000 after acquiring an additional 15,791 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Sanofi by 1.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 49,255 shares of the company’s stock valued at $2,732,000 after acquiring an additional 752 shares in the last quarter. Sivia Capital Partners LLC increased its holdings in shares of Sanofi by 5.4% in the 2nd quarter. Sivia Capital Partners LLC now owns 6,751 shares of the company’s stock valued at $326,000 after acquiring an additional 347 shares during the period. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of Sanofi by 36.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,301 shares of the company’s stock valued at $159,000 after acquiring an additional 875 shares during the period. 14.03% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

SNY has been the subject of a number of analyst reports. Sanford C. Bernstein upgraded Sanofi to a “strong-buy” rating in a research note on Thursday, March 19th. Morgan Stanley set a $52.00 price target on shares of Sanofi in a research report on Friday, May 1st. Argus upgraded shares of Sanofi to a “strong-buy” rating in a report on Monday, April 27th. Weiss Ratings raised shares of Sanofi from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, May 13th. Finally, BNP Paribas Exane lowered shares of Sanofi from an “outperform” rating to a “neutral” rating and set a $50.00 price objective for the company. in a research note on Monday, April 20th. Two analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat, Sanofi presently has an average rating of “Hold” and a consensus target price of $51.00.

Sanofi Trading Down 1.8%

Shares of NASDAQ:SNY opened at $42.66 on Wednesday. The business’s 50-day moving average is $43.97 and its 200 day moving average is $45.95. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.01 and a quick ratio of 0.22. Sanofi has a 1 year low of $40.89 and a 1 year high of $52.68. The firm has a market capitalization of $103.43 billion, a P/E ratio of 11.92, a P/E/G ratio of 1.07 and a beta of 0.34.

Sanofi Increases Dividend

The business also recently disclosed an annual dividend, which was paid on Wednesday, June 3rd. Stockholders of record on Monday, May 4th were issued a dividend of $2.4225 per share. This represents a dividend yield of 559.0%. This is an increase from Sanofi’s previous annual dividend of $2.04. The ex-dividend date was Monday, May 4th. Sanofi’s dividend payout ratio is currently 49.16%.

Sanofi Profile

Sanofi (NASDAQ:SNY) is a multinational pharmaceutical company headquartered in France that researches, develops, manufactures and markets prescription medicines, vaccines and consumer healthcare products. The company operates across multiple therapeutic areas, including immunology, rare diseases, oncology, cardiovascular and metabolic diseases, and vaccines through its Sanofi Pasteur division. Sanofi sells products to hospitals, clinics, governments and retail pharmacies, with a broad global footprint and significant presence in Europe, North America and emerging markets.

Key commercial offerings include specialty biologics and established small-molecule medicines.