State of Michigan Retirement System Sells 400 Shares of Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN)

State of Michigan Retirement System trimmed its stake in shares of Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) by 1.4% during the 1st quarter, Holdings Channel.com reports. The fund owned 28,921 shares of the biopharmaceutical company’s stock after selling 400 shares during the quarter. State of Michigan Retirement System’s holdings in Regeneron Pharmaceuticals were worth $27,836,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. West Paces Advisors Inc. grew its holdings in shares of Regeneron Pharmaceuticals by 575.0% in the first quarter. West Paces Advisors Inc. now owns 27 shares of the biopharmaceutical company’s stock worth $26,000 after purchasing an additional 23 shares during the last quarter. Fortitude Family Office LLC bought a new stake in Regeneron Pharmaceuticals in the 4th quarter worth $31,000. MCF Advisors LLC increased its position in shares of Regeneron Pharmaceuticals by 50.0% in the fourth quarter. MCF Advisors LLC now owns 36 shares of the biopharmaceutical company’s stock valued at $32,000 after acquiring an additional 12 shares during the period. Criterion Capital Advisors LLC bought a new position in shares of Regeneron Pharmaceuticals during the fourth quarter valued at about $37,000. Finally, Bruce G. Allen Investments LLC purchased a new stake in shares of Regeneron Pharmaceuticals during the fourth quarter worth about $40,000. 83.31% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on REGN. StockNews.com downgraded Regeneron Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Tuesday, April 30th. Truist Financial restated a “buy” rating and set a $1,135.00 target price on shares of Regeneron Pharmaceuticals in a report on Wednesday, April 3rd. Bank of America raised their price target on Regeneron Pharmaceuticals from $710.00 to $720.00 and gave the stock an “underperform” rating in a research note on Friday, April 12th. TD Cowen upped their price objective on shares of Regeneron Pharmaceuticals from $1,020.00 to $1,030.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Finally, Evercore ISI began coverage on shares of Regeneron Pharmaceuticals in a research report on Tuesday, May 14th. They issued an “outperform” rating and a $1,150.00 target price for the company. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $1,027.55.

Insider Activity at Regeneron Pharmaceuticals

In other Regeneron Pharmaceuticals news, EVP Marion Mccourt sold 1,137 shares of Regeneron Pharmaceuticals stock in a transaction on Monday, July 1st. The stock was sold at an average price of $1,047.11, for a total value of $1,190,564.07. Following the completion of the sale, the executive vice president now owns 12,931 shares of the company’s stock, valued at approximately $13,540,179.41. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CEO Leonard S. Schleifer sold 25,000 shares of the stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $979.25, for a total transaction of $24,481,250.00. Following the transaction, the chief executive officer now owns 408,200 shares in the company, valued at $399,729,850. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Marion Mccourt sold 1,137 shares of Regeneron Pharmaceuticals stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $1,047.11, for a total transaction of $1,190,564.07. Following the completion of the sale, the executive vice president now directly owns 12,931 shares of the company’s stock, valued at approximately $13,540,179.41. The disclosure for this sale can be found here. In the last three months, insiders have sold 63,208 shares of company stock valued at $62,514,142. 7.48% of the stock is owned by corporate insiders.

Regeneron Pharmaceuticals Stock Performance

Shares of Regeneron Pharmaceuticals stock opened at $1,044.66 on Wednesday. Regeneron Pharmaceuticals, Inc. has a 1 year low of $688.52 and a 1 year high of $1,081.17. The firm’s 50-day moving average is $987.40 and its 200 day moving average is $952.81. The stock has a market cap of $115.11 billion, a price-to-earnings ratio of 30.86, a PEG ratio of 2.17 and a beta of 0.13. The company has a debt-to-equity ratio of 0.10, a current ratio of 5.27 and a quick ratio of 4.51.

Regeneron Pharmaceuticals (NASDAQ:REGN) last issued its earnings results on Thursday, May 2nd. The biopharmaceutical company reported $7.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $8.46 by ($0.49). Regeneron Pharmaceuticals had a return on equity of 16.83% and a net margin of 29.45%. The firm had revenue of $3.15 billion during the quarter, compared to the consensus estimate of $3.19 billion. Sell-side analysts anticipate that Regeneron Pharmaceuticals, Inc. will post 37.23 EPS for the current fiscal year.

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.