1,196,479 Shares in Regeneron Pharmaceuticals, Inc. $REGN Bought by Norges Bank

Norges Bank purchased a new position in Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 1,196,479 shares of the biopharmaceutical company’s stock, valued at approximately $628,151,000.

Several other hedge funds and other institutional investors have also made changes to their positions in REGN. Activest Wealth Management increased its holdings in shares of Regeneron Pharmaceuticals by 110.5% in the first quarter. Activest Wealth Management now owns 40 shares of the biopharmaceutical company’s stock worth $25,000 after purchasing an additional 21 shares during the last quarter. Costello Asset Management INC purchased a new position in Regeneron Pharmaceuticals during the 1st quarter valued at approximately $27,000. Saudi Central Bank purchased a new position in Regeneron Pharmaceuticals during the 1st quarter valued at approximately $27,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Regeneron Pharmaceuticals in the 2nd quarter worth approximately $31,000. Finally, Colonial Trust Advisors purchased a new stake in shares of Regeneron Pharmaceuticals during the 1st quarter worth approximately $32,000. Institutional investors own 83.31% of the company’s stock.

Analyst Ratings Changes

REGN has been the subject of a number of recent research reports. Wells Fargo & Company raised their target price on shares of Regeneron Pharmaceuticals from $615.00 to $700.00 and gave the company an “equal weight” rating in a report on Thursday, November 20th. HSBC initiated coverage on shares of Regeneron Pharmaceuticals in a research note on Monday, November 24th. They issued a “buy” rating and a $255.00 price objective for the company. Raymond James Financial upgraded shares of Regeneron Pharmaceuticals to a “moderate buy” rating in a report on Tuesday, September 2nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Regeneron Pharmaceuticals in a report on Monday, November 24th. Finally, BMO Capital Markets lifted their price target on Regeneron Pharmaceuticals from $600.00 to $640.00 and gave the stock an “outperform” rating in a research report on Monday, August 4th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $757.91.

Regeneron Pharmaceuticals Stock Performance

Shares of NASDAQ:REGN opened at $779.09 on Friday. The company has a market capitalization of $81.88 billion, a price-to-earnings ratio of 18.66, a PEG ratio of 2.03 and a beta of 0.31. Regeneron Pharmaceuticals, Inc. has a 12 month low of $476.49 and a 12 month high of $800.99. The firm’s 50-day moving average is $634.75 and its 200 day moving average is $583.49. The company has a current ratio of 4.06, a quick ratio of 3.72 and a debt-to-equity ratio of 0.09.

Regeneron Pharmaceuticals (NASDAQ:REGN) last announced its quarterly earnings data on Tuesday, October 28th. The biopharmaceutical company reported $11.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.73 by $2.10. Regeneron Pharmaceuticals had a net margin of 32.13% and a return on equity of 13.76%. The business had revenue of $3.75 billion during the quarter, compared to the consensus estimate of $3.57 billion. During the same quarter last year, the firm earned $12.46 earnings per share. The firm’s quarterly revenue was up .9% compared to the same quarter last year. Research analysts predict that Regeneron Pharmaceuticals, Inc. will post 35.92 EPS for the current year.

Regeneron Pharmaceuticals Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 5th. Investors of record on Thursday, November 20th will be paid a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend is Thursday, November 20th. Regeneron Pharmaceuticals’s dividend payout ratio (DPR) is currently 8.43%.

Insider Buying and Selling

In related news, VP Jason Pitofsky sold 431 shares of the business’s stock in a transaction on Friday, November 7th. The stock was sold at an average price of $651.43, for a total transaction of $280,766.33. Following the completion of the transaction, the vice president owned 4,233 shares in the company, valued at $2,757,503.19. The trade was a 9.24% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Christine A. Poon sold 6,500 shares of the stock in a transaction on Wednesday, October 29th. The stock was sold at an average price of $654.27, for a total value of $4,252,755.00. Following the completion of the sale, the director owned 2,352 shares in the company, valued at approximately $1,538,843.04. The trade was a 73.43% decrease in their position. The disclosure for this sale is available in the SEC filing. 7.02% of the stock is currently owned by company insiders.

Regeneron Pharmaceuticals Company Profile

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.