HB Wealth Management LLC Cuts Stock Position in Sanofi $SNY

HB Wealth Management LLC decreased its holdings in Sanofi (NASDAQ:SNY) by 10.4% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 29,785 shares of the company’s stock after selling 3,452 shares during the quarter. HB Wealth Management LLC’s holdings in Sanofi were worth $1,439,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the business. Price T Rowe Associates Inc. MD raised its position in Sanofi by 1.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 11,036,878 shares of the company’s stock worth $612,106,000 after acquiring an additional 193,196 shares in the last quarter. Federated Hermes Inc. raised its position in Sanofi by 58.5% in the first quarter. Federated Hermes Inc. now owns 3,947,583 shares of the company’s stock worth $218,933,000 after acquiring an additional 1,456,269 shares in the last quarter. Envestnet Asset Management Inc. raised its position in Sanofi by 6.9% in the first quarter. Envestnet Asset Management Inc. now owns 3,277,394 shares of the company’s stock worth $181,764,000 after acquiring an additional 211,641 shares in the last quarter. Raymond James Financial Inc. raised its position in Sanofi by 15.1% in the first quarter. Raymond James Financial Inc. now owns 3,244,027 shares of the company’s stock worth $179,914,000 after acquiring an additional 425,597 shares in the last quarter. Finally, Nuveen LLC purchased a new position in Sanofi in the first quarter worth $177,831,000. Hedge funds and other institutional investors own 14.04% of the company’s stock.

Sanofi Stock Up 0.8%

SNY opened at $50.14 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 firm has a market cap of $123.12 billion, a P/E ratio of 12.05, a PEG ratio of 1.18 and a beta of 0.51. Sanofi has a 52 week low of $44.62 and a 52 week high of $60.12. The business’s fifty day simple moving average is $48.18 and its 200 day simple moving average is $50.15.

Sanofi (NASDAQ:SNY) last posted its quarterly earnings data 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 for the quarter, compared to analyst estimates of $9.91 billion. Sanofi had a net margin of 21.47% and a return on equity of 16.86%. The firm’s revenue was down 7.0% on a year-over-year basis. During the same period in the previous year, the business earned $1.73 EPS. As a group, equities research analysts anticipate that Sanofi will post 4.36 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have issued reports on SNY. Barclays reiterated an “overweight” rating on shares of Sanofi in a research report on Wednesday, July 2nd. JPMorgan Chase & Co. upgraded Sanofi from a “neutral” rating to an “overweight” rating in a research report on Friday, August 8th. Deutsche Bank Aktiengesellschaft upgraded Sanofi from a “hold” rating to a “buy” rating in a research report on Tuesday, September 2nd. Morgan Stanley upgraded Sanofi from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $56.00 to $58.00 in a research report on Monday, September 8th. Finally, Wall Street Zen upgraded Sanofi from a “hold” rating to a “buy” rating in a research report on Saturday, August 2nd. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $62.67.

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.