Westpac Banking Corp Grows Stake in Regeneron Pharmaceuticals, Inc. $REGN

Westpac Banking Corp lifted its stake in shares of Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) by 745.2% in the fourth quarter, Holdings Channel reports. The firm owned 6,888 shares of the biopharmaceutical company’s stock after buying an additional 6,073 shares during the period. Westpac Banking Corp’s holdings in Regeneron Pharmaceuticals were worth $5,317,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Fiduciary Family Office LLC increased its stake in shares of Regeneron Pharmaceuticals by 14.6% during the fourth quarter. Fiduciary Family Office LLC now owns 980 shares of the biopharmaceutical company’s stock worth $756,000 after purchasing an additional 125 shares in the last quarter. Natixis Advisors LLC increased its stake in shares of Regeneron Pharmaceuticals by 2.1% during the fourth quarter. Natixis Advisors LLC now owns 122,588 shares of the biopharmaceutical company’s stock worth $94,622,000 after purchasing an additional 2,479 shares in the last quarter. Heritage Trust Co increased its stake in shares of Regeneron Pharmaceuticals by 2.0% during the fourth quarter. Heritage Trust Co now owns 2,579 shares of the biopharmaceutical company’s stock worth $1,991,000 after purchasing an additional 50 shares in the last quarter. Fielder Capital Group LLC increased its stake in shares of Regeneron Pharmaceuticals by 17.4% during the fourth quarter. Fielder Capital Group LLC now owns 451 shares of the biopharmaceutical company’s stock worth $348,000 after purchasing an additional 67 shares in the last quarter. Finally, Root Financial Partners LLC increased its stake in shares of Regeneron Pharmaceuticals by 60.0% during the fourth quarter. Root Financial Partners LLC now owns 56 shares of the biopharmaceutical company’s stock worth $43,000 after purchasing an additional 21 shares in the last quarter. Hedge funds and other institutional investors own 83.31% of the company’s stock.

Insiders Place Their Bets

In related news, Director Arthur F. Ryan sold 100 shares of the company’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $705.24, for a total transaction of $70,524.00. Following the sale, the director directly owned 17,503 shares of the company’s stock, valued at $12,343,815.72. This represents a 0.57% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 6.97% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on REGN shares. Wells Fargo & Company lowered their price target on shares of Regeneron Pharmaceuticals from $800.00 to $700.00 and set an “equal weight” rating on the stock in a research report on Monday, May 18th. Wall Street Zen upgraded shares of Regeneron Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Barclays decreased their target price on shares of Regeneron Pharmaceuticals from $923.00 to $917.00 and set an “overweight” rating on the stock in a report on Thursday, April 30th. Piper Sandler decreased their target price on shares of Regeneron Pharmaceuticals from $875.00 to $855.00 and set an “overweight” rating on the stock in a report on Monday, May 18th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $800.00 price objective on shares of Regeneron Pharmaceuticals in a report on Thursday, April 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Regeneron Pharmaceuticals currently has an average rating of “Moderate Buy” and an average target price of $792.65.

Regeneron Pharmaceuticals Stock Performance

Shares of REGN stock opened at $602.92 on Wednesday. The firm’s 50 day moving average price is $716.42 and its 200-day moving average price is $744.46. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.96 and a current ratio of 3.57. Regeneron Pharmaceuticals, Inc. has a one year low of $476.49 and a one year high of $821.11. The firm has a market cap of $63.74 billion, a P/E ratio of 14.69, a P/E/G ratio of 1.33 and a beta of 0.25.

Regeneron Pharmaceuticals (NASDAQ:REGN) last announced its earnings results on Wednesday, April 29th. The biopharmaceutical company reported $9.47 earnings per share for the quarter, topping the consensus estimate of $8.91 by $0.56. Regeneron Pharmaceuticals had a net margin of 29.65% and a return on equity of 13.16%. The firm had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $3.48 billion. During the same period in the prior year, the firm earned $8.22 EPS. The firm’s revenue for the quarter was up 19.0% on a year-over-year basis. As a group, equities research analysts predict that Regeneron Pharmaceuticals, Inc. will post 37.25 EPS for the current year.

Regeneron Pharmaceuticals Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 4th. Investors of record on Wednesday, May 20th will be paid a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Wednesday, May 20th. Regeneron Pharmaceuticals’s dividend payout ratio is presently 9.16%.

Regeneron Pharmaceuticals Profile

Regeneron Pharmaceuticals, Inc (NASDAQ: REGN) is a U.S.-based biotechnology company founded in 1988 and headquartered in Tarrytown, New York. It focuses on discovering, developing, manufacturing and commercializing medicines for serious medical conditions. The company combines laboratory research, clinical development and in-house manufacturing to advance a pipeline of biologic therapies across multiple therapeutic areas.

Regeneron is known for its proprietary drug discovery technologies, including its VelocImmune platform, which is used to generate fully human monoclonal antibodies.