PNC Financial Services Group Inc. Has $9.74 Million Stock Holdings in Regeneron Pharmaceuticals, Inc. $REGN

PNC Financial Services Group Inc. boosted its holdings in Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) by 17.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,316 shares of the biopharmaceutical company’s stock after acquiring an additional 2,601 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Regeneron Pharmaceuticals were worth $9,736,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp grew its position in Regeneron Pharmaceuticals by 0.9% in the second quarter. State Street Corp now owns 4,832,002 shares of the biopharmaceutical company’s stock valued at $2,536,801,000 after acquiring an additional 42,343 shares during the period. Dodge & Cox boosted its stake in shares of Regeneron Pharmaceuticals by 64.6% in the 2nd quarter. Dodge & Cox now owns 3,826,283 shares of the biopharmaceutical company’s stock valued at $2,008,799,000 after purchasing an additional 1,502,198 shares in the last quarter. Franklin Resources Inc. increased its position in shares of Regeneron Pharmaceuticals by 1.6% during the 2nd quarter. Franklin Resources Inc. now owns 2,313,496 shares of the biopharmaceutical company’s stock worth $1,214,585,000 after purchasing an additional 36,821 shares in the last quarter. Loomis Sayles & Co. L P lifted its holdings in Regeneron Pharmaceuticals by 18.6% during the 2nd quarter. Loomis Sayles & Co. L P now owns 1,941,070 shares of the biopharmaceutical company’s stock valued at $1,019,062,000 after purchasing an additional 305,089 shares during the last quarter. Finally, Norges Bank acquired a new position in Regeneron Pharmaceuticals in the second quarter valued at about $628,151,000. Institutional investors own 83.31% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Guggenheim raised their price objective on shares of Regeneron Pharmaceuticals from $865.00 to $975.00 and gave the stock a “buy” rating in a report on Monday, February 9th. Oppenheimer reaffirmed an “outperform” rating and set a $865.00 price target (up from $750.00) on shares of Regeneron Pharmaceuticals in a report on Monday, February 2nd. Royal Bank Of Canada boosted their price objective on Regeneron Pharmaceuticals from $704.00 to $708.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 29th. Scotiabank increased their target price on Regeneron Pharmaceuticals from $650.00 to $770.00 and gave the stock a “sector perform” rating in a report on Monday, November 24th. Finally, Wall Street Zen cut Regeneron Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Monday. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $793.81.

Regeneron Pharmaceuticals Price Performance

Regeneron Pharmaceuticals stock opened at $792.16 on Thursday. The stock has a market cap of $83.75 billion, a price-to-earnings ratio of 19.06, a P/E/G ratio of 2.13 and a beta of 0.40. Regeneron Pharmaceuticals, Inc. has a 12-month low of $476.49 and a 12-month high of $821.11. The company has a quick ratio of 3.39, a current ratio of 4.13 and a debt-to-equity ratio of 0.09. The business’s 50-day simple moving average is $767.50 and its 200 day simple moving average is $670.90.

Regeneron Pharmaceuticals (NASDAQ:REGN) last issued its earnings results on Friday, January 30th. The biopharmaceutical company reported $11.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.74 by $0.70. The company had revenue of $3.88 billion for the quarter, compared to analyst estimates of $3.76 billion. Regeneron Pharmaceuticals had a net margin of 31.41% and a return on equity of 13.04%. The company’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter last year, the firm earned $12.07 EPS. As a group, research analysts anticipate that Regeneron Pharmaceuticals, Inc. will post 35.92 earnings per share for the current year.

Regeneron Pharmaceuticals Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 5th. Shareholders of record on Friday, February 20th will be issued a dividend of $0.94 per share. The ex-dividend date of this dividend is Friday, February 20th. This represents a $3.76 dividend on an annualized basis and a yield of 0.5%. This is a boost from Regeneron Pharmaceuticals’s previous quarterly dividend of $0.88. Regeneron Pharmaceuticals’s dividend payout ratio (DPR) is presently 8.47%.

Insider Activity

In other Regeneron Pharmaceuticals news, Director Bonnie L. Bassler sold 1,500 shares of the stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $800.00, for a total value of $1,200,000.00. Following the transaction, the director owned 1,703 shares of the company’s stock, valued at approximately $1,362,400. This represents a 46.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Arthur F. Ryan sold 100 shares of the firm’s stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $778.53, for a total value of $77,853.00. Following the transaction, the director owned 17,803 shares in the company, valued at approximately $13,860,169.59. This trade represents a 0.56% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 3,636 shares of company stock valued at $2,862,920 in the last 90 days. 7.02% of the stock is owned by company insiders.

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.