Bank of New York Mellon Corp Sells 41,629 Shares of Regeneron Pharmaceuticals, Inc. $REGN

Bank of New York Mellon Corp decreased its position in Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) by 6.0% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 656,624 shares of the biopharmaceutical company’s stock after selling 41,629 shares during the quarter. Bank of New York Mellon Corp owned 0.61% of Regeneron Pharmaceuticals worth $344,728,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Activest Wealth Management increased its holdings in shares of Regeneron Pharmaceuticals by 110.5% during the first quarter. Activest Wealth Management now owns 40 shares of the biopharmaceutical company’s stock worth $25,000 after buying an additional 21 shares in the last quarter. Costello Asset Management INC acquired a new position in shares of Regeneron Pharmaceuticals in the 1st quarter worth approximately $27,000. Saudi Central Bank bought a new stake in Regeneron Pharmaceuticals during the 1st quarter worth approximately $27,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Regeneron Pharmaceuticals during the 2nd quarter valued at $31,000. Finally, Colonial Trust Advisors bought a new position in Regeneron Pharmaceuticals in the 1st quarter valued at $32,000. 83.31% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

REGN has been the topic of several research analyst reports. Jefferies Financial Group increased their target price on Regeneron Pharmaceuticals from $813.00 to $831.00 and gave the stock a “buy” rating in a report on Wednesday, August 27th. Citigroup increased their price objective on shares of Regeneron Pharmaceuticals from $660.00 to $700.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. UBS Group reaffirmed a “neutral” rating on shares of Regeneron Pharmaceuticals in a research note on Friday, August 1st. Sanford C. Bernstein upped their target price on shares of Regeneron Pharmaceuticals from $753.00 to $781.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 27th. Finally, Morgan Stanley lowered their price target on shares of Regeneron Pharmaceuticals from $761.00 to $756.00 and set an “overweight” rating for the company in a report on Friday, October 10th. Three analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $802.36.

Regeneron Pharmaceuticals Stock Down 2.2%

Shares of NASDAQ REGN opened at $628.00 on Wednesday. Regeneron Pharmaceuticals, Inc. has a 1 year low of $476.49 and a 1 year high of $844.51. The firm’s 50-day moving average is $584.01 and its 200-day moving average is $566.40. The company has a current ratio of 4.06, a quick ratio of 3.72 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $66.56 billion, a PE ratio of 15.04, a price-to-earnings-growth ratio of 2.03 and a beta of 0.31.

Regeneron Pharmaceuticals (NASDAQ:REGN) last announced its quarterly earnings data on Tuesday, October 28th. The biopharmaceutical company reported $11.83 earnings per share for the quarter, beating 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 for the quarter, compared to analyst estimates of $3.57 billion. During the same period in the prior year, the business posted $12.46 earnings per share. Regeneron Pharmaceuticals’s revenue was up .9% compared to the same quarter last year. Equities analysts expect that Regeneron Pharmaceuticals, Inc. will post 35.92 EPS for the current year.

Regeneron Pharmaceuticals Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 5th. Investors of record on Thursday, November 20th will be issued a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Thursday, November 20th. Regeneron Pharmaceuticals’s dividend payout ratio is currently 8.43%.

Insiders Place Their Bets

In other Regeneron Pharmaceuticals news, Director Christine A. Poon sold 6,500 shares of the firm’s stock in a transaction dated Wednesday, October 29th. The stock was sold at an average price of $654.27, for a total transaction of $4,252,755.00. Following the transaction, the director owned 2,352 shares in the company, valued at approximately $1,538,843.04. This trade represents a 73.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 7.02% of the company’s stock.

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.