CIBC Asset Management Inc Reduces Holdings in Sanofi (NASDAQ:SNY)

CIBC Asset Management Inc trimmed its holdings in shares of Sanofi (NASDAQ:SNY) by 31.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 90,417 shares of the company’s stock after selling 41,731 shares during the period. CIBC Asset Management Inc’s holdings in Sanofi were worth $5,211,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of SNY. POM Investment Strategies LLC acquired a new position in shares of Sanofi in the 2nd quarter valued at $25,000. Northwest Investment Counselors LLC acquired a new position in shares of Sanofi in the 3rd quarter valued at $29,000. Concord Wealth Partners boosted its holdings in shares of Sanofi by 157.8% in the 3rd quarter. Concord Wealth Partners now owns 593 shares of the company’s stock valued at $34,000 after purchasing an additional 363 shares during the last quarter. Arrow Financial Corp acquired a new position in shares of Sanofi in the 2nd quarter valued at $35,000. Finally, Fortitude Family Office LLC lifted its holdings in shares of Sanofi by 708.6% during the 3rd quarter. Fortitude Family Office LLC now owns 752 shares of the company’s stock valued at $43,000 after acquiring an additional 659 shares in the last quarter. 10.04% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on SNY. Citigroup upgraded shares of Sanofi to a “strong-buy” rating in a report on Tuesday, September 17th. Argus lifted their target price on shares of Sanofi from $55.00 to $60.00 and gave the company a “buy” rating in a report on Friday, July 26th. Finally, StockNews.com lowered shares of Sanofi from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $57.50.

Sanofi Stock Performance

Shares of SNY stock opened at $47.97 on Monday. Sanofi has a 12 month low of $45.22 and a 12 month high of $58.97. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.00 and a quick ratio of 0.65. The firm has a market capitalization of $121.74 billion, a P/E ratio of 24.47, a P/E/G ratio of 1.22 and a beta of 0.61. The company’s fifty day moving average price is $54.65 and its two-hundred day moving average price is $52.23.

Sanofi (NASDAQ:SNY) last released its earnings results on Friday, October 25th. The company reported $1.57 earnings per share for the quarter, topping the consensus estimate of $0.22 by $1.35. The company had revenue of $13.44 billion during 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 company’s revenue was up 12.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.55 EPS. On average, research analysts anticipate that Sanofi will post 4.29 earnings per share for the current fiscal year.

Sanofi Company Profile

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.