State of Michigan Retirement System Cuts Stake in Regeneron Pharmaceuticals, Inc. $REGN

State of Michigan Retirement System trimmed its position in shares of Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) by 4.0% during the 4th quarter, HoldingsChannel.com reports. The firm owned 26,421 shares of the biopharmaceutical company’s stock after selling 1,100 shares during the period. State of Michigan Retirement System’s holdings in Regeneron Pharmaceuticals were worth $20,394,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Meyer Handelman Co. raised its position in Regeneron Pharmaceuticals by 0.6% in the 4th quarter. Meyer Handelman Co. now owns 2,878 shares of the biopharmaceutical company’s stock worth $2,221,000 after buying an additional 18 shares during the last quarter. CoreCap Advisors LLC raised its position in Regeneron Pharmaceuticals by 9.2% in the 3rd quarter. CoreCap Advisors LLC now owns 238 shares of the biopharmaceutical company’s stock worth $134,000 after buying an additional 20 shares during the last quarter. Whittier Trust Co. raised its position in Regeneron Pharmaceuticals by 5.9% in the 4th quarter. Whittier Trust Co. now owns 357 shares of the biopharmaceutical company’s stock worth $277,000 after buying an additional 20 shares during the last quarter. Strait & Sound Wealth Management LLC raised its position in Regeneron Pharmaceuticals by 3.5% in the 3rd quarter. Strait & Sound Wealth Management LLC now owns 628 shares of the biopharmaceutical company’s stock worth $353,000 after buying an additional 21 shares during the last quarter. Finally, Parkside Financial Bank & Trust raised its position in Regeneron Pharmaceuticals by 14.8% in the 3rd quarter. Parkside Financial Bank & Trust now owns 163 shares of the biopharmaceutical company’s stock worth $92,000 after buying an additional 21 shares during the last quarter. 83.31% of the stock is owned by hedge funds and other institutional investors.

Regeneron Pharmaceuticals Trading Down 0.9%

Shares of NASDAQ:REGN opened at $744.44 on Tuesday. The stock has a market capitalization of $78.70 billion, a price-to-earnings ratio of 17.91, a PEG ratio of 1.67 and a beta of 0.40. The company has a debt-to-equity ratio of 0.09, a quick ratio of 3.39 and a current ratio of 4.13. The stock’s 50-day simple moving average is $761.66 and its two-hundred day simple moving average is $734.54. Regeneron Pharmaceuticals, Inc. has a 52-week low of $476.49 and a 52-week high of $821.11.

Regeneron Pharmaceuticals (NASDAQ:REGN) last announced its earnings results on Friday, January 30th. The biopharmaceutical company reported $11.44 EPS for the quarter, beating analysts’ consensus estimates of $10.74 by $0.70. Regeneron Pharmaceuticals had a net margin of 31.41% and a return on equity of 13.04%. The business had revenue of $3.88 billion during the quarter, compared to analysts’ expectations of $3.76 billion. During the same period in the prior year, the company earned $12.07 earnings per share. The firm’s revenue was up 2.5% on a year-over-year basis. Analysts expect that Regeneron Pharmaceuticals, Inc. will post 35.2 EPS for the current year.

Regeneron Pharmaceuticals Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 5th. Shareholders of record on Friday, February 20th were issued a dividend of $0.94 per share. This is an increase from Regeneron Pharmaceuticals’s previous quarterly dividend of $0.88. This represents a $3.76 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend was Friday, February 20th. Regeneron Pharmaceuticals’s dividend payout ratio is currently 9.05%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Weiss Ratings reissued a “hold (c)” rating on shares of Regeneron Pharmaceuticals in a research report on Friday, March 27th. TD Cowen boosted their target price on Regeneron Pharmaceuticals from $880.00 to $960.00 and gave the stock a “buy” rating in a research report on Thursday, April 23rd. Wells Fargo & Company boosted their target price on Regeneron Pharmaceuticals from $745.00 to $800.00 and gave the stock an “equal weight” rating in a research report on Monday, February 2nd. Zacks Research lowered Regeneron Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 6th. Finally, Barclays assumed coverage on Regeneron Pharmaceuticals in a research report on Friday, March 6th. They issued an “overweight” rating and a $923.00 target price for the company. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, Regeneron Pharmaceuticals has a consensus rating of “Moderate Buy” and an average target price of $825.35.

Insider Buying and Selling at Regeneron Pharmaceuticals

In other Regeneron Pharmaceuticals news, Director Huda Y. Zoghbi sold 1,638 shares of the company’s stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $781.33, for a total transaction of $1,279,818.54. Following the completion of the sale, the director directly owned 1,703 shares of the company’s stock, valued at approximately $1,330,604.99. This represents a 49.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Arthur F. Ryan sold 100 shares of the company’s stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $778.53, for a total transaction of $77,853.00. Following the sale, the director directly owned 17,803 shares of the company’s stock, valued at approximately $13,860,169.59. This represents a 0.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 3,774 shares of company stock valued at $2,942,738. Insiders own 7.02% of the company’s stock.

Regeneron Pharmaceuticals Company Profile

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.