Summit Financial LLC Purchases 64 Shares of Regeneron Pharmaceuticals, Inc. $REGN

Summit Financial LLC lifted its position in shares of Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) by 0.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,596 shares of the biopharmaceutical company’s stock after purchasing an additional 64 shares during the period. Summit Financial LLC’s holdings in Regeneron Pharmaceuticals were worth $6,720,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the company. Pinney & Scofield Inc. bought a new stake in Regeneron Pharmaceuticals in the fourth quarter worth about $25,000. E Fund Management Hong Kong Co. Ltd. lifted its holdings in Regeneron Pharmaceuticals by 344.4% during the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 40 shares of the biopharmaceutical company’s stock worth $25,000 after purchasing an additional 31 shares in the last quarter. Costello Asset Management INC purchased a new stake in Regeneron Pharmaceuticals during the 1st quarter worth about $27,000. Tompkins Financial Corp purchased a new stake in Regeneron Pharmaceuticals during the 1st quarter worth about $32,000. Finally, Curat Global LLC bought a new position in Regeneron Pharmaceuticals in the 1st quarter worth about $32,000. 83.31% of the stock is owned by institutional investors.

Regeneron Pharmaceuticals Price Performance

REGN opened at $591.01 on Thursday. The stock’s 50 day simple moving average is $547.75 and its 200 day simple moving average is $593.42. The company has a debt-to-equity ratio of 0.09, a current ratio of 4.60 and a quick ratio of 3.72. Regeneron Pharmaceuticals, Inc. has a 1 year low of $476.49 and a 1 year high of $1,211.20. The firm has a market cap of $62.64 billion, a price-to-earnings ratio of 14.89, a PEG ratio of 1.90 and a beta of 0.33.

Regeneron Pharmaceuticals (NASDAQ:REGN) last posted its quarterly earnings results on Friday, August 1st. The biopharmaceutical company reported $12.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.43 by $4.46. Regeneron Pharmaceuticals had a return on equity of 15.06% and a net margin of 31.37%.The business had revenue of $3,675,600 billion for the quarter, compared to analyst estimates of $3.30 billion. During the same period last year, the company earned $11.56 EPS. Regeneron Pharmaceuticals’s revenue for the quarter was up 3.6% compared to the same quarter last year. As a group, analysts predict that Regeneron Pharmaceuticals, Inc. will post 35.92 earnings per share for the current year.

Regeneron Pharmaceuticals Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 3rd. Investors of record on Monday, August 18th will be given a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 0.6%. The ex-dividend date is Monday, August 18th. Regeneron Pharmaceuticals’s dividend payout ratio (DPR) is presently 8.87%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. JPMorgan Chase & Co. decreased their target price on Regeneron Pharmaceuticals from $950.00 to $800.00 and set an “overweight” rating on the stock in a research note on Monday, June 9th. Citigroup restated a “buy” rating and issued a $650.00 target price on shares of Regeneron Pharmaceuticals in a research note on Friday, August 1st. Guggenheim upped their target price on Regeneron Pharmaceuticals from $810.00 to $815.00 and gave the stock a “buy” rating in a research note on Friday, August 1st. Morgan Stanley restated an “overweight” rating and issued a $761.00 target price (up from $754.00) on shares of Regeneron Pharmaceuticals in a research note on Friday, August 1st. Finally, UBS Group restated a “neutral” rating on shares of Regeneron Pharmaceuticals in a research note on Friday, August 1st. Three research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Regeneron Pharmaceuticals has a consensus rating of “Moderate Buy” and an average price target of $829.65.

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.