Van ECK Associates Corp cut its stake in Sanofi (NYSE:SNY) by 26.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 283,721 shares of the company’s stock after selling 100,805 shares during the period. Van ECK Associates Corp’s holdings in Sanofi were worth $13,593,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of the business. UBS Asset Management Americas Inc. increased its holdings in Sanofi by 22.7% in the second quarter. UBS Asset Management Americas Inc. now owns 75,475 shares of the company’s stock valued at $3,616,000 after buying an additional 13,959 shares in the last quarter. Strategic Global Advisors LLC increased its holdings in Sanofi by 0.6% in the second quarter. Strategic Global Advisors LLC now owns 8,632 shares of the company’s stock valued at $414,000 after buying an additional 54 shares in the last quarter. Investment Centers of America Inc. purchased a new position in Sanofi in the second quarter valued at about $300,000. BlackRock Inc. increased its holdings in Sanofi by 47.6% in the second quarter. BlackRock Inc. now owns 2,235,422 shares of the company’s stock valued at $107,100,000 after buying an additional 720,523 shares in the last quarter. Finally, Summit Global Investments increased its holdings in Sanofi by 12.8% in the second quarter. Summit Global Investments now owns 13,280 shares of the company’s stock valued at $636,000 after buying an additional 1,510 shares in the last quarter. 9.33% of the stock is owned by institutional investors.
In other Sanofi news, major shareholder Sanofi bought 105,820 shares of the company’s stock in a transaction that occurred on Thursday, August 24th. The shares were acquired at an average cost of $482.04 per share, for a total transaction of $51,009,472.80. The purchase was disclosed in a legal filing with the SEC, which is available through this link. 1.00% of the stock is owned by insiders.
Sanofi (NYSE SNY) opened at 49.95 on Friday. Sanofi has a 52 week low of $36.81 and a 52 week high of $50.25. The stock has a market capitalization of $125.45 billion, a PE ratio of 11.65 and a beta of 0.88. The stock’s 50 day moving average is $48.38 and its 200-day moving average is $47.45.
Sanofi (NYSE:SNY) last issued its quarterly earnings results on Monday, July 31st. The company reported $0.74 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.74. Sanofi had a net margin of 25.89% and a return on equity of 25.34%. The company had revenue of $8.66 billion during the quarter, compared to analyst estimates of $8.71 billion. Sanofi’s quarterly revenue was down 2.3% on a year-over-year basis. Equities research analysts forecast that Sanofi will post $3.33 EPS for the current year.
SNY has been the subject of a number of research analyst reports. Argus reaffirmed a “buy” rating and issued a $55.00 target price on shares of Sanofi in a report on Friday, September 1st. Zacks Investment Research raised shares of Sanofi from a “hold” rating to a “buy” rating and set a $55.00 target price for the company in a report on Friday, June 2nd. HSBC Holdings plc raised shares of Sanofi from a “reduce” rating to a “hold” rating in a report on Wednesday, August 30th. BidaskClub raised shares of Sanofi from a “hold” rating to a “buy” rating in a report on Friday, June 23rd. Finally, Cowen and Company reaffirmed a “market perform” rating and issued a $52.00 target price (up from $46.00) on shares of Sanofi in a report on Tuesday, August 1st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company’s stock. Sanofi currently has a consensus rating of “Hold” and a consensus price target of $54.00.
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Sanofi is a healthcare company, focused on patient needs and engaged in the research, development, manufacture and marketing of therapeutic solutions. The Company’s segments are Pharmaceuticals, Human Vaccines (Vaccines), and Other. The Pharmaceuticals segment comprises the commercial operations of various franchises, including Speciality Care (Rare Diseases, Multiple Sclerosis, and Oncology), Diabetes and Cardiovascular, Established Prescription Products, Consumer Healthcare and Generics, and research and development, production and marketing activities for all of the Company’s pharmaceuticals operations.
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