JPMorgan Chase & Co. Upgrades Sanofi (NASDAQ:SNY) to Overweight

JPMorgan Chase & Co. upgraded shares of Sanofi (NASDAQ:SNY) from a neutral rating to an overweight rating in a report issued on Friday morning, Marketbeat reports.

A number of other brokerages have also recently commented on SNY. Wall Street Zen upgraded Sanofi from a “hold” rating to a “buy” rating in a research report on Saturday, August 2nd. Barclays reiterated an “overweight” rating on shares of Sanofi in a research report on Wednesday, July 2nd. Hsbc Global Res upgraded Sanofi to a “strong-buy” rating in a research report on Monday, April 28th. Morgan Stanley set a $56.00 target price on Sanofi in a research report on Monday, June 2nd. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of Sanofi in a research report on Tuesday, August 5th. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, Sanofi presently has a consensus rating of “Buy” and a consensus target price of $62.00.

Sanofi Stock Performance

Shares of SNY opened at $47.16 on Friday. The company has a quick ratio of 0.94, a current ratio of 1.27 and a debt-to-equity ratio of 0.19. The business has a 50-day simple moving average of $48.67 and a two-hundred day simple moving average of $51.97. The stock has a market cap of $115.79 billion, a price-to-earnings ratio of 11.34, a PEG ratio of 1.13 and a beta of 0.48. Sanofi has a 52 week low of $44.73 and a 52 week high of $60.12.

Sanofi (NASDAQ:SNY) last issued its quarterly earnings results on Thursday, July 31st. The company reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $0.96 by ($0.06). The company had revenue of $11.34 billion during the quarter, compared to analysts’ expectations of $9.91 billion. Sanofi had a return on equity of 16.86% and a net margin of 21.47%. The business’s quarterly revenue was down 7.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.73 EPS. On average, analysts expect that Sanofi will post 4.36 EPS for the current year.

Institutional Trading of Sanofi

Several hedge funds have recently modified their holdings of SNY. Brighton Jones LLC boosted its position in shares of Sanofi by 52.6% during the 4th quarter. Brighton Jones LLC now owns 5,420 shares of the company’s stock valued at $261,000 after acquiring an additional 1,869 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Sanofi by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 257,655 shares of the company’s stock valued at $12,427,000 after acquiring an additional 2,917 shares during the last quarter. Bessemer Group Inc. boosted its position in shares of Sanofi by 59.8% during the 4th quarter. Bessemer Group Inc. now owns 647 shares of the company’s stock valued at $32,000 after acquiring an additional 242 shares during the last quarter. Scotia Capital Inc. boosted its position in shares of Sanofi by 7.1% during the 4th quarter. Scotia Capital Inc. now owns 8,677 shares of the company’s stock valued at $419,000 after acquiring an additional 572 shares during the last quarter. Finally, Neuberger Berman Group LLC boosted its holdings in shares of Sanofi by 13.7% in the 4th quarter. Neuberger Berman Group LLC now owns 20,041 shares of the company’s stock worth $967,000 after purchasing an additional 2,411 shares during the period. 14.04% of the stock is owned by hedge funds and other institutional investors.

Sanofi Company Profile

Sanofi, a healthcare company, engages in the research, development, manufacture, and marketing of therapeutic solutions in the United States, Europe, Canada, and internationally. It operates through Pharmaceuticals, Vaccines, and Consumer Healthcare segments. The company provides specialty care, such as DUPIXENT, neurology and immunology, rare diseases, oncology, and rare blood disorders; medicines for diabetes and cardiovascular diseases; and established prescription products.