Sanofi (NASDAQ:SNY) Stock Crosses Above 200-Day Moving Average – Here’s What Happened

Sanofi (NASDAQ:SNY)’s share price crossed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $44.35 and traded as high as $45.59. Sanofi shares last traded at $45.55, with a volume of 7,373,102 shares.

Wall Street Analysts Forecast Growth

Several research firms have commented on SNY. Wall Street Zen lowered shares of Sanofi from a “buy” rating to a “hold” rating in a report on Saturday, October 3rd. Wolfe Research started coverage on Sanofi in a research note on Friday, October 9th. They set a “peer perform” rating for the company. Berenberg Bank reissued a “buy” rating on shares of Sanofi in a report on Monday, October 5th. Weiss Ratings upgraded Sanofi from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of Sanofi in a report on Thursday, October 1st. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and thirteen have assigned a Hold rating to the stock. According to MarketBeat.com, Sanofi has an average rating of “Hold” and a consensus target price of $49.50.

Sanofi Stock Up 4.7%

The company has a market cap of $115.09 billion, a price-to-earnings ratio of 23.50, a PEG ratio of 1.25 and a beta of 0.31. The company has a current ratio of 1.12, a quick ratio of 0.64 and a debt-to-equity ratio of 0.20. The business has a fifty day moving average of $42.22 and a two-hundred day moving average of $44.33.

Sanofi (NASDAQ:SNY) last issued its quarterly earnings results on Friday, October 30th. The company reported $2.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.56 by $0.48. The company had revenue of $17.25 billion for the quarter, compared to the consensus estimate of $14.30 billion. Sanofi had a return on equity of 15.16% and a net margin of 8.70%. Sanofi’s revenue for the quarter was up 16.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.91 earnings per share. As a group, equities analysts anticipate that Sanofi will post 5.03 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC increased its holdings in shares of Sanofi by 12.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 26,523 shares of the company’s stock worth $1,054,000 after buying an additional 2,968 shares during the last quarter. Almanack Investment Partners LLC. acquired a new position in Sanofi in the third quarter valued at approximately $273,000. Euro Pacific Asset Management LLC lifted its holdings in Sanofi by 0.6% in the third quarter. Euro Pacific Asset Management LLC now owns 46,121 shares of the company’s stock valued at $1,902,000 after acquiring an additional 253 shares during the last quarter. M Holdings Securities Inc. grew its position in Sanofi by 4.1% in the third quarter. M Holdings Securities Inc. now owns 21,716 shares of the company’s stock worth $989,000 after acquiring an additional 853 shares during the period. Finally, Ethic Inc. grew its position in Sanofi by 12.6% in the third quarter. Ethic Inc. now owns 145,079 shares of the company’s stock worth $5,982,000 after acquiring an additional 16,290 shares during the period. Institutional investors and hedge funds own 14.03% of the company’s stock.

Sanofi Company Profile

Sanofi is a France-based global healthcare company that researches, develops, manufactures and markets prescription medicines and vaccines. Its operations focus primarily on specialty medicines, immunology, rare diseases, neurology, oncology and treatments for rare blood disorders, as well as established pharmaceutical products.

The company’s portfolio includes Dupixent, an immunology medicine developed with Regeneron; vaccines for influenza, polio, meningitis and other infectious diseases; and treatments for conditions including multiple sclerosis, hemophilia and certain rare diseases.