Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) Shares Sold by Covington Capital Management

Covington Capital Management trimmed its stake in shares of Regeneron Pharmaceuticals, Inc. (NASDAQ:REGNGet Rating) by 80.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 201 shares of the biopharmaceutical company’s stock after selling 806 shares during the quarter. Covington Capital Management’s holdings in Regeneron Pharmaceuticals were worth $119,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in REGN. MAI Capital Management acquired a new stake in shares of Regeneron Pharmaceuticals during the 4th quarter worth approximately $230,000. Level Four Advisory Services LLC acquired a new stake in Regeneron Pharmaceuticals in the 4th quarter valued at approximately $235,000. C M Bidwell & Associates Ltd. increased its position in Regeneron Pharmaceuticals by 125.4% in the 4th quarter. C M Bidwell & Associates Ltd. now owns 453 shares of the biopharmaceutical company’s stock valued at $286,000 after acquiring an additional 252 shares during the period. Alberta Investment Management Corp increased its position in Regeneron Pharmaceuticals by 3.1% in the 4th quarter. Alberta Investment Management Corp now owns 43,855 shares of the biopharmaceutical company’s stock valued at $27,695,000 after acquiring an additional 1,311 shares during the period. Finally, KRS Capital Management LLC acquired a new stake in Regeneron Pharmaceuticals in the 4th quarter valued at approximately $198,000. 84.92% of the stock is currently owned by institutional investors and hedge funds.

Regeneron Pharmaceuticals Stock Performance

Shares of Regeneron Pharmaceuticals stock opened at $710.30 on Monday. The stock has a market cap of $77.43 billion, a PE ratio of 14.18, a price-to-earnings-growth ratio of 2.46 and a beta of 0.29. The business has a fifty day simple moving average of $617.77 and a 200-day simple moving average of $639.33. The company has a quick ratio of 4.39, a current ratio of 5.12 and a debt-to-equity ratio of 0.13. Regeneron Pharmaceuticals, Inc. has a 12 month low of $538.01 and a 12 month high of $754.67.

Regeneron Pharmaceuticals (NASDAQ:REGNGet Rating) last issued its earnings results on Wednesday, August 3rd. The biopharmaceutical company reported $9.77 EPS for the quarter, missing the consensus estimate of $9.94 by ($0.17). The business had revenue of $2.86 billion during the quarter, compared to analyst estimates of $2.80 billion. Regeneron Pharmaceuticals had a return on equity of 36.17% and a net margin of 39.97%. The business’s quarterly revenue was down 44.4% on a year-over-year basis. During the same period last year, the business earned $27.97 EPS. On average, sell-side analysts anticipate that Regeneron Pharmaceuticals, Inc. will post 36.16 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently commented on the company. Canaccord Genuity Group raised their target price on Regeneron Pharmaceuticals from $700.00 to $750.00 and gave the company a “buy” rating in a research report on Friday. Barclays raised their target price on Regeneron Pharmaceuticals from $735.00 to $815.00 and gave the company an “overweight” rating in a research report on Friday, September 9th. BMO Capital Markets raised their target price on Regeneron Pharmaceuticals from $757.00 to $788.00 and gave the company an “outperform” rating in a research report on Thursday, August 4th. Truist Financial increased their price target on Regeneron Pharmaceuticals from $718.00 to $790.00 in a research note on Friday, September 9th. Finally, Evercore ISI set a $635.00 price target on Regeneron Pharmaceuticals in a research note on Monday, June 20th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $746.33.

Insider Buying and Selling

In related news, Director Bonnie L. Bassler sold 609 shares of the stock in a transaction on Friday, September 9th. The stock was sold at an average price of $741.00, for a total transaction of $451,269.00. Following the completion of the sale, the director now directly owns 1,082 shares in the company, valued at $801,762. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, Director Arthur F. Ryan sold 10,453 shares of Regeneron Pharmaceuticals stock in a transaction dated Thursday, August 4th. The stock was sold at an average price of $621.29, for a total value of $6,494,344.37. Following the transaction, the director now directly owns 18,408 shares in the company, valued at $11,436,706.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Bonnie L. Bassler sold 609 shares of Regeneron Pharmaceuticals stock in a transaction dated Friday, September 9th. The stock was sold at an average price of $741.00, for a total value of $451,269.00. Following the completion of the transaction, the director now owns 1,082 shares in the company, valued at $801,762. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 56,740 shares of company stock worth $35,478,694. Corporate insiders own 8.99% of the company’s stock.

About Regeneron Pharmaceuticals

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Regeneron Pharmaceuticals, Inc discovers, invents, develops, manufactures, and commercializes medicines for treating various diseases worldwide. The company's products include EYLEA injection to treat wet age-related macular degeneration and diabetic macular edema; myopic choroidal neovascularization; and diabetic retinopathy, as well as macular edema following retinal vein occlusion, including macular edema following central retinal vein occlusion and macular edema following branch retinal vein occlusion.

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Institutional Ownership by Quarter for Regeneron Pharmaceuticals (NASDAQ:REGN)

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