Meridian Wealth Management LLC Has $2.44 Million Stake in Sanofi (NASDAQ:SNY)

Meridian Wealth Management LLC increased its stake in shares of Sanofi (NASDAQ:SNY) by 13.3% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 42,369 shares of the company’s stock after acquiring an additional 4,972 shares during the period. Meridian Wealth Management LLC’s holdings in Sanofi were worth $2,442,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in SNY. Barrow Hanley Mewhinney & Strauss LLC increased its holdings in shares of Sanofi by 113.8% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 5,943,547 shares of the company’s stock valued at $288,381,000 after acquiring an additional 3,164,092 shares during the last quarter. Magnetar Financial LLC increased its holdings in shares of Sanofi by 1,153.1% during the 2nd quarter. Magnetar Financial LLC now owns 2,506,286 shares of the company’s stock valued at $121,605,000 after acquiring an additional 2,306,286 shares during the last quarter. Jennison Associates LLC increased its holdings in shares of Sanofi by 938.0% during the 3rd quarter. Jennison Associates LLC now owns 1,904,445 shares of the company’s stock valued at $109,753,000 after acquiring an additional 1,720,972 shares during the last quarter. Thrivent Financial for Lutherans grew its holdings in Sanofi by 28,890.2% in the 3rd quarter. Thrivent Financial for Lutherans now owns 1,429,219 shares of the company’s stock valued at $82,366,000 after buying an additional 1,424,289 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in Sanofi by 19.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 8,594,740 shares of the company’s stock valued at $417,017,000 after buying an additional 1,370,232 shares during the last quarter. Institutional investors and hedge funds own 10.04% of the company’s stock.

Sanofi Price Performance

Shares of NASDAQ:SNY opened at $48.28 on Friday. Sanofi has a 1-year low of $45.22 and a 1-year high of $58.97. The firm has a market capitalization of $122.53 billion, a PE ratio of 24.63, a PEG ratio of 1.22 and a beta of 0.61. The business’s 50 day moving average is $53.70 and its 200-day moving average is $52.15. The company has a current ratio of 1.00, a quick ratio of 0.65 and a debt-to-equity ratio of 0.17.

Sanofi (NASDAQ:SNY) last announced its quarterly earnings data on Friday, October 25th. The company reported $1.57 earnings per share for the quarter, topping the consensus estimate of $0.22 by $1.35. Sanofi had a return on equity of 27.45% and a net margin of 9.96%. The company had revenue of $13.44 billion for the quarter, compared to analyst estimates of $16.59 billion. During the same quarter last year, the firm earned $2.55 EPS. Sanofi’s revenue for the quarter was up 12.3% compared to the same quarter last year. Sell-side analysts predict that Sanofi will post 4.29 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. StockNews.com lowered Sanofi from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 7th. Citigroup raised Sanofi to a “strong-buy” rating in a report on Tuesday, September 17th. Finally, Argus raised their target price on Sanofi from $55.00 to $60.00 and gave the company a “buy” rating in a report on Friday, July 26th. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $57.50.

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.