Jennison Associates LLC Raises Stake in Sanofi (NASDAQ:SNY)

Jennison Associates LLC boosted its holdings in shares of Sanofi (NASDAQ:SNY) by 938.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,904,445 shares of the company’s stock after buying an additional 1,720,972 shares during the quarter. Jennison Associates LLC’s holdings in Sanofi were worth $109,753,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. POM Investment Strategies LLC purchased a new stake in shares of Sanofi in the second quarter worth about $25,000. Northwest Investment Counselors LLC purchased a new position in shares of Sanofi during the 3rd quarter valued at approximately $29,000. Concord Wealth Partners lifted its stake in shares of Sanofi by 157.8% in the 3rd quarter. Concord Wealth Partners now owns 593 shares of the company’s stock valued at $34,000 after purchasing an additional 363 shares during the period. Arrow Financial Corp acquired a new stake in Sanofi during the second quarter valued at $35,000. Finally, Fortitude Family Office LLC increased its holdings in Sanofi by 708.6% in the third quarter. Fortitude Family Office LLC now owns 752 shares of the company’s stock valued at $43,000 after buying an additional 659 shares in the last quarter. 10.04% of the stock is currently owned by institutional investors and hedge funds.

Sanofi Trading Down 0.5 %

SNY opened at $47.78 on Thursday. The firm has a market capitalization of $121.26 billion, a price-to-earnings ratio of 24.38, a price-to-earnings-growth ratio of 1.22 and a beta of 0.61. The company’s 50 day simple moving average is $54.05 and its two-hundred day simple moving average is $52.19. Sanofi has a 1-year low of $45.22 and a 1-year high of $58.97. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.00 and a quick ratio of 0.65.

Sanofi (NASDAQ:SNY) last released its quarterly earnings data on Friday, October 25th. The company reported $1.57 earnings per share for the quarter, topping analysts’ consensus estimates 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 in the previous year, the company posted $2.55 earnings per share. The firm’s revenue for the quarter was up 12.3% compared to the same quarter last year. Analysts expect that Sanofi will post 4.29 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Citigroup upgraded Sanofi to a “strong-buy” rating in a research note on Tuesday, September 17th. Argus boosted their price objective on Sanofi from $55.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Finally, StockNews.com lowered Sanofi from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Sanofi has an average rating of “Moderate Buy” and a consensus target price of $57.50.

Sanofi 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.