CIBC Asset Management Inc Sells 41,731 Shares of Sanofi (NASDAQ:SNY)

CIBC Asset Management Inc trimmed its position in shares of Sanofi (NASDAQ:SNY - Free Report) by 31.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 90,417 shares of the company's stock after selling 41,731 shares during the quarter. CIBC Asset Management Inc's holdings in Sanofi were worth $5,211,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in SNY. POM Investment Strategies LLC acquired a new stake in Sanofi in the 2nd quarter valued at approximately $25,000. Northwest Investment Counselors LLC acquired a new position in Sanofi during the 3rd quarter valued at $29,000. Concord Wealth Partners boosted its holdings in Sanofi by 157.8% in the 3rd quarter. Concord Wealth Partners now owns 593 shares of the company's stock valued at $34,000 after purchasing an additional 363 shares during the period. Arrow Financial Corp bought a new position in shares of Sanofi during the 2nd quarter worth about $35,000. Finally, Fortitude Family Office LLC raised its position in shares of Sanofi by 708.6% during the third quarter. Fortitude Family Office LLC now owns 752 shares of the company's stock valued at $43,000 after buying an additional 659 shares during the last quarter. 10.04% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SNY has been the subject of a number of research reports. StockNews.com downgraded Sanofi from a "strong-buy" rating to a "buy" rating in a research report on Thursday, November 7th. Argus increased their price objective on shares of Sanofi from $55.00 to $60.00 and gave the company a "buy" rating in a research note on Friday, July 26th. Finally, Citigroup raised shares of Sanofi to a "strong-buy" rating in a research note on Tuesday, September 17th. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $57.50.

Sanofi Price Performance

Shares of SNY stock traded up $0.54 during trading hours on Monday, hitting $48.51. 2,201,850 shares of the company's stock were exchanged, compared to its average volume of 2,039,084. The stock's 50-day moving average is $54.65 and its 200-day moving average is $52.23. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.00 and a quick ratio of 0.65. Sanofi has a 52 week low of $45.22 and a 52 week high of $58.97. The stock has a market cap of $123.11 billion, a price-to-earnings ratio of 24.47, a price-to-earnings-growth ratio of 1.22 and a beta of 0.61.

Sanofi (NASDAQ:SNY - Get Free Report) last issued its quarterly earnings results on Friday, October 25th. The company reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $1.35. The business had revenue of $13.44 billion for the quarter, compared to analyst estimates of $16.59 billion. Sanofi had a return on equity of 27.45% and a net margin of 9.96%. The firm's revenue for the quarter was up 12.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.55 earnings per share. As a group, research analysts forecast that Sanofi will post 4.29 EPS for the current year.

About Sanofi

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.