Ledyard National Bank boosted its position in Sanofi SA (NYSE:SNY) by 7.3% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 73,923 shares of the company’s stock after purchasing an additional 5,048 shares during the period. Ledyard National Bank’s holdings in Sanofi were worth $3,199,000 as of its most recent SEC filing.
A number of other hedge funds have also recently modified their holdings of the business. Bessemer Group Inc. boosted its stake in Sanofi by 292.4% in the second quarter. Bessemer Group Inc. now owns 671 shares of the company’s stock valued at $29,000 after acquiring an additional 500 shares during the last quarter. Nkcfo LLC purchased a new position in Sanofi in the first quarter valued at about $35,000. Cullen Frost Bankers Inc. purchased a new position in Sanofi in the first quarter valued at about $35,000. Howe & Rusling Inc. purchased a new position in Sanofi in the first quarter valued at about $38,000. Finally, Evolution Wealth Advisors LLC purchased a new position in Sanofi in the second quarter valued at about $40,000. 7.04% of the stock is owned by institutional investors and hedge funds.
SNY has been the topic of a number of research analyst reports. TheStreet upgraded shares of Sanofi from a “c+” rating to a “b-” rating in a research note on Friday, June 21st. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Sanofi in a research note on Tuesday. Eight investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $51.00.
Sanofi (NYSE:SNY) last announced its quarterly earnings results on Monday, July 29th. The company reported $0.74 EPS for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.07. The company had revenue of $8.63 billion for the quarter, compared to analysts’ expectations of $8.42 billion. Sanofi had a net margin of 12.20% and a return on equity of 18.18%. Sanofi’s revenue was up 5.5% compared to the same quarter last year. During the same period in the prior year, the company posted $1.25 EPS. On average, sell-side analysts anticipate that Sanofi SA will post 3.1 EPS for the current fiscal year.
In other Sanofi news, major shareholder Sanofi purchased 93,750 shares of the company’s stock in a transaction that occurred on Monday, July 22nd. The shares were bought at an average cost of $16.00 per share, for a total transaction of $1,500,000.00. The purchase was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 1.00% of the company’s stock.
Sanofi provides therapeutic solutions. It offers Cerezyme and Cerdelga for Gaucher disease, Myozyme and Lumizyme for Pompe disease, Fabrazyme for Fabry disease, and Aldurazyme for mucopolysaccharidosis Type 1; Aubagio, an immunomodulatory; and Lemtrada, a monoclonal antibody to treat multiple sclerosis.
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