Harvey Capital Management Inc. Has $9.31 Million Holdings in Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN)

Harvey Capital Management Inc. increased its holdings in Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) by 1.9% in the fourth quarter, Holdings Channel reports. The fund owned 13,064 shares of the biopharmaceutical company’s stock after purchasing an additional 242 shares during the quarter. Regeneron Pharmaceuticals accounts for approximately 2.2% of Harvey Capital Management Inc.’s portfolio, making the stock its 10th largest position. Harvey Capital Management Inc.’s holdings in Regeneron Pharmaceuticals were worth $9,306,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Rakuten Securities Inc. lifted its stake in shares of Regeneron Pharmaceuticals by 380.0% during the 3rd quarter. Rakuten Securities Inc. now owns 24 shares of the biopharmaceutical company’s stock worth $25,000 after purchasing an additional 19 shares during the last quarter. FSA Wealth Management LLC purchased a new stake in shares of Regeneron Pharmaceuticals during the third quarter valued at about $26,000. Fairfield Financial Advisors LTD purchased a new position in shares of Regeneron Pharmaceuticals in the 3rd quarter worth approximately $37,000. Truvestments Capital LLC purchased a new stake in Regeneron Pharmaceuticals during the third quarter valued at approximately $39,000. Finally, Valley Wealth Managers Inc. purchased a new position in Regeneron Pharmaceuticals in the third quarter worth $49,000. 83.31% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Bernstein Bank lowered their price objective on Regeneron Pharmaceuticals from $1,070.00 to $1,000.00 in a research report on Tuesday, February 4th. Leerink Partners raised Regeneron Pharmaceuticals from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $762.00 to $834.00 in a report on Wednesday, February 5th. Wells Fargo & Company decreased their price objective on shares of Regeneron Pharmaceuticals from $1,050.00 to $900.00 and set an “overweight” rating for the company in a research report on Friday, January 10th. TD Cowen cut their target price on Regeneron Pharmaceuticals from $1,230.00 to $1,030.00 and set a “buy” rating on the stock in a research report on Tuesday, February 4th. Finally, Piper Sandler dropped their price target on Regeneron Pharmaceuticals from $1,195.00 to $1,013.00 and set an “overweight” rating on the stock in a research note on Monday, January 27th. One research analyst has rated the stock with a sell rating, six have given a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $973.13.

Regeneron Pharmaceuticals Stock Down 3.6 %

Regeneron Pharmaceuticals stock opened at $665.46 on Wednesday. Regeneron Pharmaceuticals, Inc. has a 12 month low of $642.00 and a 12 month high of $1,211.20. The stock has a market capitalization of $73.13 billion, a PE ratio of 17.38, a price-to-earnings-growth ratio of 2.38 and a beta of 0.08. The company has a debt-to-equity ratio of 0.09, a current ratio of 4.73 and a quick ratio of 4.46. The business has a 50 day simple moving average of $712.69 and a 200-day simple moving average of $903.47.

Regeneron Pharmaceuticals (NASDAQ:REGN) last posted its quarterly earnings data on Tuesday, February 4th. The biopharmaceutical company reported $12.07 earnings per share for the quarter, topping analysts’ consensus estimates of $11.21 by $0.86. Regeneron Pharmaceuticals had a net margin of 31.07% and a return on equity of 16.32%. The company had revenue of $3.79 billion during the quarter, compared to analysts’ expectations of $3.76 billion. During the same period in the prior year, the business posted $11.86 earnings per share. The firm’s revenue for the quarter was up 10.3% on a year-over-year basis. On average, analysts anticipate that Regeneron Pharmaceuticals, Inc. will post 36.67 EPS for the current fiscal year.

Regeneron Pharmaceuticals Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Thursday, February 20th will be issued a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 0.53%. The ex-dividend date of this dividend is Thursday, February 20th.

Regeneron Pharmaceuticals Profile

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.