California Public Employees Retirement System Cuts Stake in Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN)

California Public Employees Retirement System cut its stake in shares of Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) by 2.2% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 363,496 shares of the biopharmaceutical company’s stock after selling 8,142 shares during the period. California Public Employees Retirement System owned approximately 0.33% of Regeneron Pharmaceuticals worth $258,929,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Intact Investment Management Inc. bought a new stake in Regeneron Pharmaceuticals during the fourth quarter valued at $356,000. Principal Financial Group Inc. boosted its holdings in shares of Regeneron Pharmaceuticals by 1.7% in the 3rd quarter. Principal Financial Group Inc. now owns 173,092 shares of the biopharmaceutical company’s stock valued at $181,961,000 after buying an additional 2,828 shares during the period. Golden State Equity Partners grew its position in shares of Regeneron Pharmaceuticals by 1,479.1% during the 4th quarter. Golden State Equity Partners now owns 1,358 shares of the biopharmaceutical company’s stock valued at $967,000 after buying an additional 1,272 shares during the last quarter. Fagan Associates Inc. raised its stake in Regeneron Pharmaceuticals by 42.2% during the fourth quarter. Fagan Associates Inc. now owns 12,923 shares of the biopharmaceutical company’s stock worth $9,205,000 after acquiring an additional 3,832 shares during the period. Finally, ABC Arbitrage SA bought a new position in Regeneron Pharmaceuticals in the fourth quarter worth about $1,510,000. Institutional investors and hedge funds own 83.31% of the company’s stock.

Regeneron Pharmaceuticals Trading Up 0.2 %

Regeneron Pharmaceuticals stock opened at $637.36 on Friday. Regeneron Pharmaceuticals, Inc. has a 1 year low of $629.02 and a 1 year high of $1,211.20. The firm’s 50 day moving average price is $683.88 and its two-hundred day moving average price is $797.99. The firm has a market cap of $69.68 billion, a price-to-earnings ratio of 16.65, a price-to-earnings-growth ratio of 2.34 and a beta of 0.27. The company has a debt-to-equity ratio of 0.09, a quick ratio of 3.95 and a current ratio of 4.73.

Regeneron Pharmaceuticals (NASDAQ:REGN) last announced its earnings results on Tuesday, February 4th. The biopharmaceutical company reported $12.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $11.21 by $0.86. The company had revenue of $3.79 billion for the quarter, compared to analyst estimates of $3.76 billion. Regeneron Pharmaceuticals had a return on equity of 16.32% and a net margin of 31.07%. Regeneron Pharmaceuticals’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $11.86 earnings per share. On average, research analysts predict that Regeneron Pharmaceuticals, Inc. will post 35.92 EPS for the current fiscal year.

Regeneron Pharmaceuticals Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, February 20th were issued a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 0.55%. The ex-dividend date was Thursday, February 20th. Regeneron Pharmaceuticals’s payout ratio is 2.30%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on REGN. BMO Capital Markets dropped their price target on Regeneron Pharmaceuticals from $950.00 to $903.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 4th. Bank of America reiterated an “underperform” rating and issued a $565.00 target price on shares of Regeneron Pharmaceuticals in a research note on Tuesday, December 10th. Piper Sandler lowered their price target on shares of Regeneron Pharmaceuticals from $1,195.00 to $1,013.00 and set an “overweight” rating for the company in a research report on Monday, January 27th. UBS Group downgraded shares of Regeneron Pharmaceuticals from a “buy” rating to a “neutral” rating and cut their price objective for the company from $1,130.00 to $738.00 in a research report on Thursday, January 16th. Finally, Leerink Partnrs upgraded shares of Regeneron Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 5th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $973.13.

About Regeneron Pharmaceuticals

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; diabetic retinopathy; neovascular glaucoma; and retinopathy of prematurity.