Simplify Asset Management Inc. Purchases Shares of 204,143 Sanofi (NASDAQ:SNY)

Simplify Asset Management Inc. bought a new position in shares of Sanofi (NASDAQ:SNY - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 204,143 shares of the company's stock, valued at approximately $11,765,000. Sanofi comprises approximately 0.5% of Simplify Asset Management Inc.'s investment portfolio, making the stock its 18th biggest position.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SNY. Barrow Hanley Mewhinney & Strauss LLC boosted its position in shares of Sanofi by 113.8% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 5,943,547 shares of the company's stock valued at $288,381,000 after acquiring an additional 3,164,092 shares during the last quarter. Magnetar Financial LLC lifted its position in Sanofi by 1,153.1% in the second quarter. Magnetar Financial LLC now owns 2,506,286 shares of the company's stock valued at $121,605,000 after buying an additional 2,306,286 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Sanofi by 19.0% in the second quarter. Bank of New York Mellon Corp now owns 8,594,740 shares of the company's stock valued at $417,017,000 after buying an additional 1,370,232 shares during the last quarter. Federated Hermes Inc. lifted its position in Sanofi by 26.5% in the second quarter. Federated Hermes Inc. now owns 3,214,141 shares of the company's stock valued at $155,950,000 after buying an additional 673,172 shares during the last quarter. Finally, Raymond James & Associates lifted its position in Sanofi by 16.2% in the second quarter. Raymond James & Associates now owns 2,689,876 shares of the company's stock valued at $130,513,000 after buying an additional 374,621 shares during the last quarter. Institutional investors and hedge funds own 10.04% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on SNY. StockNews.com cut shares of Sanofi from a "strong-buy" rating to a "buy" rating in a research report on Thursday, November 7th. Argus increased their price target on shares of Sanofi from $55.00 to $60.00 and gave the stock a "buy" rating in a research report on Friday, July 26th. Finally, Citigroup upgraded 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 given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Sanofi presently has a consensus rating of "Moderate Buy" and an average price target of $57.50.

Sanofi Stock Performance

Shares of SNY traded up $0.15 during mid-day trading on Friday, reaching $47.97. 3,651,059 shares of the company's stock were exchanged, compared to its average volume of 2,038,351. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.00 and a quick ratio of 0.65. The business's fifty day simple moving average is $54.85 and its 200-day simple moving average is $52.20. Sanofi has a 52-week low of $45.22 and a 52-week high of $58.97. The stock has a market capitalization of $121.74 billion, a PE ratio of 24.48, a price-to-earnings-growth ratio of 1.26 and a beta of 0.61.

Sanofi (NASDAQ:SNY - Get Free Report) last released its earnings results on Friday, October 25th. The company reported $1.57 EPS for the quarter, beating analysts' consensus estimates of $0.22 by $1.35. Sanofi had a return on equity of 27.45% and a net margin of 9.96%. The company had revenue of $13.44 billion during the quarter, compared to the consensus estimate of $16.59 billion. During the same quarter last year, the company earned $2.55 earnings per share. Sanofi's quarterly revenue was up 12.3% compared to the same quarter last year. On average, equities research analysts expect that Sanofi will post 4.27 earnings per share for the current year.

Sanofi Profile

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.