Suntrust Banks Inc. cut its holdings in shares of Sanofi (NYSE:SNY) by 12.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 475,975 shares of the company’s stock after selling 70,406 shares during the period. Suntrust Banks Inc.’s holdings in Sanofi were worth $22,801,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also bought and sold shares of SNY. Fisher Asset Management LLC lifted its position in Sanofi by 8.1% during the second quarter. Fisher Asset Management LLC now owns 13,638,458 shares of the company’s stock valued at $653,419,000 after purchasing an additional 1,022,953 shares during the period. Global Financial Private Capital LLC acquired a new position in Sanofi during the first quarter valued at $35,034,000. BlackRock Inc. lifted its position in Sanofi by 47.6% during the second quarter. BlackRock Inc. now owns 2,235,422 shares of the company’s stock valued at $107,100,000 after purchasing an additional 720,523 shares during the period. Bank of America Corp DE lifted its position in Sanofi by 8.2% during the first quarter. Bank of America Corp DE now owns 7,531,334 shares of the company’s stock valued at $340,792,000 after purchasing an additional 572,652 shares during the period. Finally, Oppenheimer Asset Management Inc. acquired a new position in Sanofi during the first quarter valued at $7,619,000. Institutional investors own 9.33% of the company’s stock.
A number of research analysts recently issued reports on SNY shares. BidaskClub upgraded shares of Sanofi from a “hold” rating to a “buy” rating in a research report on Friday, June 23rd. J P Morgan Chase & Co restated a “neutral” rating on shares of Sanofi in a research report on Friday, September 15th. Cowen and Company restated a “market perform” rating and set a $52.00 target price (up from $46.00) on shares of Sanofi in a research report on Tuesday, August 1st. Argus restated a “buy” rating and set a $55.00 target price on shares of Sanofi in a research report on Friday, September 1st. Finally, HSBC Holdings plc upgraded shares of Sanofi from a “reduce” rating to a “hold” rating in a research report on Wednesday, August 30th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $54.00.
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In other news, major shareholder Sanofi bought 105,820 shares of Sanofi stock in a transaction dated Thursday, August 24th. The stock was bought at an average price of $482.04 per share, for a total transaction of $51,009,472.80. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.00% of the stock is currently owned by company insiders.
Sanofi (NYSE:SNY) traded up 0.52% on Friday, reaching $50.21. 555,802 shares of the company’s stock were exchanged. The company has a market capitalization of $126.10 billion, a P/E ratio of 11.71 and a beta of 0.88. Sanofi has a 1-year low of $36.81 and a 1-year high of $50.65. The firm has a 50-day moving average price of $48.38 and a 200-day moving average price of $47.45.
Sanofi (NYSE:SNY) last released its earnings results on Monday, July 31st. The company reported $0.74 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate 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 analysts’ expectations of $8.71 billion. The company’s revenue for the quarter was down 2.3% compared to the same quarter last year. Equities research analysts expect that Sanofi will post $3.33 earnings per share for the current year.
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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