Sanofi (SNY) Stock Rating Lowered by Zacks Investment Research

Sanofi (NYSE:SNY) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Friday, October 6th.

According to Zacks, “Sanofi’s Diabetes franchise is under significant pressure with key product, Lantus facing increasing competitive pressure at the payor level and the presence of biosimilar competition in several European markets and Japan. Sanofi’s outlook for its Diabetes franchise is also bleak due to a tough U.S. payer environment. At the Q2 conference call, management warned that US diabetes sales will decline faster in the second half. Other headwinds include generic competition and slower-than-expected uptake of new products like Praluent. Sanofi’s shares have underperformed the industry in the past three months. However, Sanofi's focus on streamlining its business and pursuing business development deals is encouraging. Further, new drugs like Aubagio and Lemtrada are likely to continue doing well. Estimates have remained stable ahead of Q3 earnings release. Sanofi has a positive record of earnings surprises in recent quarters.”

SNY has been the subject of several other reports. BidaskClub raised shares of Sanofi from a “hold” rating to a “buy” rating in a report on Friday, June 23rd. J P Morgan Chase & Co reissued a “neutral” rating on shares of Sanofi in a report on Friday, September 15th. Cowen and Company reaffirmed a “market perform” rating and set a $52.00 price objective (up from $46.00) on shares of Sanofi in a report on Tuesday, August 1st. Argus reaffirmed a “buy” rating and set a $55.00 price objective on shares of Sanofi in a report on Friday, September 1st. Finally, HSBC Holdings plc raised shares of Sanofi from a “reduce” rating to a “hold” rating in a report on Wednesday, August 30th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company’s stock. Sanofi currently has a consensus rating of “Hold” and a consensus price target of $53.50.

Sanofi (NYSE:SNY) opened at 49.63 on Friday. The firm has a market cap of $124.65 billion, a price-to-earnings ratio of 11.52 and a beta of 0.87. Sanofi has a 52 week low of $36.81 and a 52 week high of $50.65. The company has a 50-day moving average of $49.42 and a 200-day moving average of $48.19.

Sanofi (NYSE:SNY) last issued its quarterly earnings data on Monday, July 31st. The company reported $0.74 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.74. The firm had revenue of $8.66 billion for the quarter, compared to analysts’ expectations of $8.71 billion. Sanofi had a net margin of 25.89% and a return on equity of 25.34%. The company’s revenue for the quarter was down 2.3% compared to the same quarter last year. Equities research analysts forecast that Sanofi will post $3.32 earnings per share for the current fiscal year.

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In other news, major shareholder Sanofi purchased 105,820 shares of the business’s stock in a transaction dated Thursday, August 24th. The shares were purchased at an average price of $482.04 per share, for a total transaction of $51,009,472.80. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.00% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of SNY. Bank of New York Mellon Corp grew its stake in Sanofi by 1.0% in the first quarter. Bank of New York Mellon Corp now owns 305,326 shares of the company’s stock valued at $13,816,000 after purchasing an additional 3,013 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Sanofi by 27.3% during the first quarter. JPMorgan Chase & Co. now owns 316,067 shares of the company’s stock worth $14,302,000 after acquiring an additional 67,807 shares during the last quarter. Blair William & Co. IL grew its stake in shares of Sanofi by 61.3% during the first quarter. Blair William & Co. IL now owns 13,189 shares of the company’s stock worth $570,000 after acquiring an additional 5,010 shares during the last quarter. Neuberger Berman Group LLC grew its stake in shares of Sanofi by 6.6% during the first quarter. Neuberger Berman Group LLC now owns 109,312 shares of the company’s stock worth $4,946,000 after acquiring an additional 6,797 shares during the last quarter. Finally, Alliancebernstein L.P. grew its stake in shares of Sanofi by 24.1% during the first quarter. Alliancebernstein L.P. now owns 27,621 shares of the company’s stock worth $1,250,000 after acquiring an additional 5,357 shares during the last quarter. Institutional investors own 9.33% of the company’s stock.

About Sanofi

Sanofi is a healthcare company, focused on patient needs and engaged in the research, development, manufacture and marketing of therapeutic solutions. The Company’s segments are Pharmaceuticals, Human Vaccines (Vaccines), and Other. The Pharmaceuticals segment comprises the commercial operations of various franchises, including Speciality Care (Rare Diseases, Multiple Sclerosis, and Oncology), Diabetes and Cardiovascular, Established Prescription Products, Consumer Healthcare and Generics, and research and development, production and marketing activities for all of the Company’s pharmaceuticals operations.

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