Bingham Private Wealth LLC Increases Holdings in Sanofi $SNY

Bingham Private Wealth LLC grew its holdings in shares of Sanofi (NASDAQ:SNY) by 4.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,386 shares of the company’s stock after buying an additional 298 shares during the quarter. Bingham Private Wealth LLC’s holdings in Sanofi were worth $309,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Nuveen LLC bought a new position in Sanofi during the 1st quarter valued at about $177,831,000. Federated Hermes Inc. grew its holdings in Sanofi by 58.5% during the 1st quarter. Federated Hermes Inc. now owns 3,947,583 shares of the company’s stock valued at $218,933,000 after purchasing an additional 1,456,269 shares during the last quarter. OLD Mission Capital LLC bought a new position in Sanofi during the 1st quarter valued at about $48,938,000. Raymond James Financial Inc. grew its holdings in Sanofi by 15.1% during the 1st quarter. Raymond James Financial Inc. now owns 3,244,027 shares of the company’s stock valued at $179,914,000 after purchasing an additional 425,597 shares during the last quarter. Finally, LPL Financial LLC grew its holdings in Sanofi by 18.4% during the 1st quarter. LPL Financial LLC now owns 1,520,721 shares of the company’s stock valued at $84,339,000 after purchasing an additional 236,625 shares during the last quarter. 14.04% of the stock is currently owned by hedge funds and other institutional investors.

Sanofi Price Performance

Shares of SNY stock opened at $49.71 on Tuesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.27 and a quick ratio of 0.94. The company has a market capitalization of $122.06 billion, a P/E ratio of 11.95, a P/E/G ratio of 1.24 and a beta of 0.51. The company’s 50-day simple moving average is $48.20 and its two-hundred day simple moving average is $49.93. Sanofi has a one year low of $44.62 and a one year high of $60.12.

Sanofi (NASDAQ:SNY) last issued its earnings results on Thursday, July 31st. The company reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $0.96 by ($0.06). Sanofi had a return on equity of 16.86% and a net margin of 21.47%.The company had revenue of $11.34 billion during the quarter, compared to the consensus estimate of $9.91 billion. During the same quarter in the prior year, the company earned $1.73 earnings per share. Sanofi’s revenue was down 7.0% on a year-over-year basis. As a group, equities analysts anticipate that Sanofi will post 4.36 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Wall Street Zen upgraded shares of Sanofi from a “hold” rating to a “buy” rating in a report on Saturday, August 2nd. JPMorgan Chase & Co. upgraded shares of Sanofi from a “neutral” rating to an “overweight” rating in a report on Friday, August 8th. Barclays reiterated an “overweight” rating on shares of Sanofi in a report on Wednesday, July 2nd. Deutsche Bank Aktiengesellschaft upgraded shares of Sanofi from a “hold” rating to a “buy” rating in a report on Tuesday, September 2nd. Finally, Morgan Stanley upgraded shares of Sanofi from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $56.00 to $58.00 in a research note on Monday, September 8th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $62.67.

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.