Simplify Asset Management Inc. Purchases New Holdings in Sanofi (NASDAQ:SNY)

Simplify Asset Management Inc. bought a new position in shares of Sanofi (NASDAQ:SNY) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 204,143 shares of the company’s stock, valued at approximately $11,765,000. Sanofi comprises 0.5% of Simplify Asset Management Inc.’s holdings, making the stock its 18th largest holding.

Other institutional investors have also recently bought and sold shares of the company. POM Investment Strategies LLC acquired a new position in Sanofi in the 2nd quarter valued at about $25,000. Northwest Investment Counselors LLC bought a new position in Sanofi during the third quarter worth $29,000. Concord Wealth Partners boosted its stake in Sanofi by 157.8% during the third quarter. Concord Wealth Partners now owns 593 shares of the company’s stock worth $34,000 after acquiring an additional 363 shares in the last quarter. Arrow Financial Corp acquired a new position in Sanofi during the second quarter worth $35,000. Finally, Fortitude Family Office LLC raised its holdings in shares of Sanofi by 708.6% in the third quarter. Fortitude Family Office LLC now owns 752 shares of the company’s stock valued at $43,000 after purchasing an additional 659 shares during the last quarter. Institutional investors and hedge funds own 10.04% of the company’s stock.

Sanofi Stock Performance

NASDAQ SNY traded up $0.15 on Friday, reaching $47.97. 789,107 shares of the stock were exchanged, compared to its average volume of 2,025,459. The firm has a market capitalization of $121.74 billion, a PE ratio of 24.40, a PEG ratio of 1.26 and a beta of 0.61. The company has a current ratio of 1.00, a quick ratio of 0.65 and a debt-to-equity ratio of 0.17. The company’s 50-day simple moving average is $54.85 and its two-hundred day simple moving average is $52.20. Sanofi has a one year low of $45.22 and a one year high of $58.97.

Sanofi (NASDAQ:SNY) last posted its quarterly earnings results on Friday, October 25th. The company reported $1.57 EPS for the quarter, topping the consensus estimate of $0.22 by $1.35. The company had revenue of $13.44 billion for the quarter, compared to the consensus estimate of $16.59 billion. Sanofi had a net margin of 9.96% and a return on equity of 27.45%. The firm’s revenue was up 12.3% compared to the same quarter last year. During the same quarter last year, the firm posted $2.55 EPS. Analysts expect that Sanofi will post 4.27 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. StockNews.com cut shares of Sanofi from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 7th. Argus boosted their target price on Sanofi from $55.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Finally, Citigroup upgraded Sanofi to a “strong-buy” rating in a report on Tuesday, September 17th. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $57.50.

About Sanofi

Sanofi, a healthcare company, engages in the research, development, manufacture, and marketing of therapeutic solutions in the United States, Europe, Canada, and internationally. It operates through Pharmaceuticals, Vaccines, and Consumer Healthcare segments. The company provides specialty care, such as DUPIXENT, neurology and immunology, rare diseases, oncology, and rare blood disorders; medicines for diabetes and cardiovascular diseases; and established prescription products.