Principal Financial Group Inc. Has $93.05 Million Stake in Regeneron Pharmaceuticals, Inc. $REGN

Principal Financial Group Inc. grew its holdings in shares of Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) by 0.7% during the first quarter, Holdings Channel reports. The firm owned 120,425 shares of the biopharmaceutical company’s stock after purchasing an additional 800 shares during the period. Principal Financial Group Inc.’s holdings in Regeneron Pharmaceuticals were worth $93,045,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its position in Regeneron Pharmaceuticals by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 9,075,153 shares of the biopharmaceutical company’s stock worth $7,004,838,000 after purchasing an additional 26,884 shares during the period. Dodge & Cox lifted its stake in shares of Regeneron Pharmaceuticals by 1.0% in the fourth quarter. Dodge & Cox now owns 4,596,358 shares of the biopharmaceutical company’s stock worth $3,547,791,000 after buying an additional 45,513 shares during the last quarter. Franklin Resources Inc. boosted its holdings in shares of Regeneron Pharmaceuticals by 4.4% during the 4th quarter. Franklin Resources Inc. now owns 2,560,004 shares of the biopharmaceutical company’s stock worth $1,975,990,000 after buying an additional 106,861 shares during the period. Nuveen LLC boosted its holdings in shares of Regeneron Pharmaceuticals by 71.1% during the 4th quarter. Nuveen LLC now owns 2,010,517 shares of the biopharmaceutical company’s stock worth $1,551,858,000 after buying an additional 835,240 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its stake in Regeneron Pharmaceuticals by 142.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,949,797 shares of the biopharmaceutical company’s stock valued at $1,504,991,000 after buying an additional 1,144,887 shares during the last quarter. Institutional investors and hedge funds own 83.31% of the company’s stock.

Insiders Place Their Bets

In other Regeneron Pharmaceuticals news, Director Arthur F. Ryan sold 200 shares of the company’s stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $650.15, for a total value of $130,030.00. Following the completion of the transaction, the director directly owned 17,303 shares in the company, valued at $11,249,545.45. This represents a 1.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 6.97% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on REGN shares. HSBC dropped their target price on shares of Regeneron Pharmaceuticals from $990.00 to $880.00 and set a “buy” rating on the stock in a research report on Monday, July 6th. Morgan Stanley decreased their price objective on shares of Regeneron Pharmaceuticals from $788.00 to $730.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 8th. Weiss Ratings restated a “hold (c)” rating on shares of Regeneron Pharmaceuticals in a research report on Wednesday, June 24th. Sanford C. Bernstein reduced their target price on Regeneron Pharmaceuticals from $925.00 to $921.00 and set an “outperform” rating on the stock in a report on Wednesday, April 8th. Finally, Piper Sandler cut their price objective on Regeneron Pharmaceuticals from $855.00 to $854.00 and set an “overweight” rating on the stock in a report on Thursday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $787.67.

Regeneron Pharmaceuticals Stock Performance

NASDAQ REGN opened at $664.45 on Thursday. The company has a quick ratio of 2.96, a current ratio of 3.57 and a debt-to-equity ratio of 0.06. Regeneron Pharmaceuticals, Inc. has a 12-month low of $541.00 and a 12-month high of $821.11. The company has a 50-day simple moving average of $642.36 and a two-hundred day simple moving average of $719.45. The firm has a market cap of $70.25 billion, a price-to-earnings ratio of 16.19, a PEG ratio of 1.45 and a beta of 0.24.

Regeneron Pharmaceuticals (NASDAQ:REGN) last released its quarterly earnings results on Wednesday, April 29th. The biopharmaceutical company reported $9.47 earnings per share for the quarter, beating the consensus estimate of $8.91 by $0.56. Regeneron Pharmaceuticals had a net margin of 29.65% and a return on equity of 13.16%. The business had revenue of $3.61 billion for the quarter, compared to analysts’ expectations of $3.48 billion. During the same quarter in the previous year, the business posted $8.22 earnings per share. The firm’s revenue for the quarter was up 19.0% compared to the same quarter last year. On average, equities analysts forecast that Regeneron Pharmaceuticals, Inc. will post 37.16 EPS for the current year.

Regeneron Pharmaceuticals Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Wednesday, May 20th were given a $0.94 dividend. The ex-dividend date was Wednesday, May 20th. This represents a $3.76 dividend on an annualized basis and a yield of 0.6%. Regeneron Pharmaceuticals’s dividend payout ratio is presently 9.16%.

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.