PNC Financial Services Group Inc. Cuts Holdings in Regeneron Pharmaceuticals, Inc. $REGN

PNC Financial Services Group Inc. trimmed its position in Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) by 7.8% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 14,715 shares of the biopharmaceutical company’s stock after selling 1,247 shares during the period. PNC Financial Services Group Inc.’s holdings in Regeneron Pharmaceuticals were worth $7,725,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Proficio Capital Partners LLC grew its holdings in shares of Regeneron Pharmaceuticals by 6.2% in the first quarter. Proficio Capital Partners LLC now owns 327 shares of the biopharmaceutical company’s stock valued at $207,000 after acquiring an additional 19 shares in the last quarter. Cove Private Wealth LLC boosted its position in Regeneron Pharmaceuticals by 4.5% in the first quarter. Cove Private Wealth LLC now owns 460 shares of the biopharmaceutical company’s stock worth $292,000 after purchasing an additional 20 shares during the last quarter. Marino Stram & Associates LLC boosted its position in Regeneron Pharmaceuticals by 5.3% in the second quarter. Marino Stram & Associates LLC now owns 396 shares of the biopharmaceutical company’s stock worth $208,000 after purchasing an additional 20 shares during the last quarter. Activest Wealth Management grew its stake in Regeneron Pharmaceuticals by 110.5% in the 1st quarter. Activest Wealth Management now owns 40 shares of the biopharmaceutical company’s stock valued at $25,000 after purchasing an additional 21 shares during the period. Finally, CX Institutional increased its position in shares of Regeneron Pharmaceuticals by 7.9% during the 2nd quarter. CX Institutional now owns 302 shares of the biopharmaceutical company’s stock valued at $159,000 after purchasing an additional 22 shares during the last quarter. Institutional investors own 83.31% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on REGN. Weiss Ratings reissued a “hold (c-)” rating on shares of Regeneron Pharmaceuticals in a report on Wednesday, October 8th. Canaccord Genuity Group reiterated a “buy” rating and issued a $850.00 target price on shares of Regeneron Pharmaceuticals in a research note on Thursday, October 23rd. Citigroup raised their price target on shares of Regeneron Pharmaceuticals from $660.00 to $700.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. Royal Bank Of Canada upped their price objective on Regeneron Pharmaceuticals from $704.00 to $708.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 29th. Finally, Sanford C. Bernstein increased their price objective on Regeneron Pharmaceuticals from $753.00 to $781.00 and gave the company an “outperform” rating in a report on Wednesday, August 27th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $772.76.

Regeneron Pharmaceuticals Stock Performance

Shares of REGN stock opened at $693.50 on Monday. The firm’s 50 day moving average is $598.76 and its 200 day moving average is $570.85. The stock has a market capitalization of $72.89 billion, a P/E ratio of 16.61, 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 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 issued its earnings results on Tuesday, October 28th. The biopharmaceutical company reported $11.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $3.57 billion. During the same quarter in the previous year, the firm posted $12.46 EPS. The business’s revenue for the quarter was up .9% compared to the same quarter last year. On average, sell-side analysts anticipate that Regeneron Pharmaceuticals, Inc. will post 35.92 earnings per share 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 dividend of $0.88 per share. The ex-dividend date of this dividend is Thursday, November 20th. This represents a $3.52 dividend on an annualized basis and a yield of 0.5%. Regeneron Pharmaceuticals’s dividend payout ratio is 8.43%.

Insider Activity

In other news, VP Jason Pitofsky sold 431 shares of the firm’s stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $651.43, for a total value of $280,766.33. Following the completion of the transaction, the vice president directly owned 4,233 shares in the company, valued at approximately $2,757,503.19. This trade represents a 9.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Christine A. Poon sold 6,500 shares of the company’s stock in a transaction that occurred on 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 sale, the director directly owned 2,352 shares in the company, valued at $1,538,843.04. This trade represents a 73.43% decrease in their position. The disclosure for this sale is available in the SEC filing. 7.02% of the stock is owned by company insiders.

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.