Sanofi (NASDAQ:SNY) Receives $63.33 Average Price Target from Analysts

Sanofi (NASDAQ:SNY) has earned a consensus recommendation of “Buy” from the eight research firms that are presently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and three have given a strong buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $61.50.

SNY has been the topic of a number of recent research reports. The Goldman Sachs Group initiated coverage on Sanofi in a research note on Friday, March 21st. They issued a “neutral” rating and a $65.00 target price on the stock. Hsbc Global Res upgraded Sanofi to a “strong-buy” rating in a research report on Monday, April 28th. Guggenheim reiterated a “buy” rating on shares of Sanofi in a research report on Tuesday, June 3rd. Morgan Stanley set a $56.00 price target on Sanofi in a research report on Monday, June 2nd. Finally, BNP Paribas assumed coverage on Sanofi in a research report on Tuesday, April 15th. They set an “outperform” rating and a $65.00 price target on the stock.

Hedge Funds Weigh In On Sanofi

A number of hedge funds have recently made changes to their positions in the company. Cardinal Capital Management raised its holdings in shares of Sanofi by 0.3% during the first quarter. Cardinal Capital Management now owns 69,004 shares of the company’s stock valued at $3,827,000 after acquiring an additional 199 shares during the last quarter. Gradient Investments LLC raised its holdings in shares of Sanofi by 2.1% during the first quarter. Gradient Investments LLC now owns 9,764 shares of the company’s stock valued at $542,000 after acquiring an additional 200 shares during the last quarter. Providence Capital Advisors LLC raised its holdings in shares of Sanofi by 0.4% during the fourth quarter. Providence Capital Advisors LLC now owns 55,001 shares of the company’s stock valued at $2,653,000 after acquiring an additional 201 shares during the last quarter. Perigon Wealth Management LLC raised its holdings in shares of Sanofi by 3.1% during the first quarter. Perigon Wealth Management LLC now owns 6,618 shares of the company’s stock valued at $367,000 after acquiring an additional 201 shares during the last quarter. Finally, Capital Analysts LLC raised its holdings in shares of Sanofi by 14.0% during the first quarter. Capital Analysts LLC now owns 1,664 shares of the company’s stock valued at $92,000 after acquiring an additional 204 shares during the last quarter. Institutional investors and hedge funds own 14.04% of the company’s stock.

Sanofi Stock Up 1.4%

Shares of SNY opened at $50.47 on Wednesday. Sanofi has a 52 week low of $45.80 and a 52 week high of $60.12. The company has a quick ratio of 1.14, a current ratio of 1.46 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $123.78 billion, a price-to-earnings ratio of 20.27, a PEG ratio of 1.01 and a beta of 0.50. The stock’s 50-day moving average price is $51.71 and its 200-day moving average price is $52.00.

Sanofi (NASDAQ:SNY) last issued its earnings results on Thursday, April 24th. The company reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.04. Sanofi had a return on equity of 25.61% and a net margin of 12.77%. The firm had revenue of $10.41 billion for the quarter, compared to the consensus estimate of $9.79 billion. During the same quarter in the prior year, the business earned $1.78 earnings per share. The company’s revenue was down 11.0% compared to the same quarter last year. On average, sell-side analysts predict that Sanofi will post 4.36 EPS for the current year.

Sanofi Increases Dividend

The firm also recently declared an annual dividend, which will be paid on Thursday, June 12th. Shareholders of record on Friday, May 9th will be given a dividend of $2.0369 per share. The ex-dividend date is Friday, May 9th. This represents a yield of 3.1%. This is an increase from Sanofi’s previous annual dividend of $1.48. Sanofi’s dividend payout ratio is currently 57.14%.

About Sanofi

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.