Bank of Nova Scotia Sells 8,529 Shares of Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN)

Bank of Nova Scotia cut its holdings in Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN - Free Report) by 8.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 90,162 shares of the biopharmaceutical company's stock after selling 8,529 shares during the period. Bank of Nova Scotia owned approximately 0.08% of Regeneron Pharmaceuticals worth $64,225,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Rakuten Securities Inc. lifted its stake in shares of Regeneron Pharmaceuticals by 62.5% in the fourth quarter. Rakuten Securities Inc. now owns 39 shares of the biopharmaceutical company's stock worth $28,000 after buying an additional 15 shares during the last quarter. OFI Invest Asset Management acquired a new position in Regeneron Pharmaceuticals during the 4th quarter worth $28,000. Avalon Trust Co acquired a new stake in shares of Regeneron Pharmaceuticals in the fourth quarter valued at about $36,000. Crowley Wealth Management Inc. acquired a new position in shares of Regeneron Pharmaceuticals during the 4th quarter worth about $36,000. Finally, Private Wealth Management Group LLC grew its holdings in Regeneron Pharmaceuticals by 260.0% in the 4th quarter. Private Wealth Management Group LLC now owns 54 shares of the biopharmaceutical company's stock valued at $38,000 after buying an additional 39 shares during the last quarter. 83.31% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on REGN. Sanford C. Bernstein cut their price target on Regeneron Pharmaceuticals from $1,110.00 to $1,070.00 and set an "outperform" rating for the company in a report on Tuesday, January 7th. Wells Fargo & Company cut their target price on shares of Regeneron Pharmaceuticals from $1,050.00 to $900.00 and set an "overweight" rating for the company in a research note on Friday, January 10th. Truist Financial decreased their price target on shares of Regeneron Pharmaceuticals from $1,126.00 to $1,004.00 and set a "buy" rating on the stock in a research report on Wednesday, January 8th. Bernstein Bank cut their price objective on shares of Regeneron Pharmaceuticals from $1,070.00 to $1,000.00 in a research report on Tuesday, February 4th. Finally, Canaccord Genuity Group began coverage on Regeneron Pharmaceuticals in a research report on Tuesday, December 17th. They set a "hold" rating and a $165.00 target price on the stock. One research analyst has rated the stock with a sell rating, six have issued a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $966.88.

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Regeneron Pharmaceuticals Price Performance

REGN traded up $9.60 during midday trading on Monday, hitting $563.78. The company had a trading volume of 323,713 shares, compared to its average volume of 706,254. Regeneron Pharmaceuticals, Inc. has a twelve month low of $525.99 and a twelve month high of $1,211.20. The company has a market capitalization of $61.64 billion, a PE ratio of 14.73, a P/E/G ratio of 2.34 and a beta of 0.44. The company has a debt-to-equity ratio of 0.09, a quick ratio of 3.95 and a current ratio of 4.73. The firm's 50-day simple moving average is $659.94 and its 200-day simple moving average is $753.23.

Regeneron Pharmaceuticals (NASDAQ:REGN - Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The biopharmaceutical company reported $12.07 earnings per share for the quarter, beating analysts' consensus estimates of $11.21 by $0.86. Regeneron Pharmaceuticals had a net margin of 31.07% and a return on equity of 16.32%. The business had revenue of $3.79 billion during the quarter, compared to analyst estimates of $3.76 billion. During the same quarter last year, the business posted $11.86 earnings per share. Regeneron Pharmaceuticals's revenue for the quarter was up 10.3% compared to the same quarter last year. Equities research analysts predict that Regeneron Pharmaceuticals, Inc. will post 35.92 EPS for the current fiscal year.

Regeneron Pharmaceuticals Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Thursday, February 20th were paid a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 0.62%. The ex-dividend date of this dividend was Thursday, February 20th. Regeneron Pharmaceuticals's dividend payout ratio (DPR) is presently 2.30%.

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.