Polar Asset Management Partners Inc. Invests $3.20 Million in Sanofi (NASDAQ:SNY)

Polar Asset Management Partners Inc. purchased a new position in Sanofi (NASDAQ:SNY) in the third quarter, Holdings Channel reports. The fund purchased 55,500 shares of the company’s stock, valued at approximately $3,198,000.

A number of other hedge funds have also bought and sold shares of SNY. Barrow Hanley Mewhinney & Strauss LLC grew its stake in Sanofi by 113.8% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 5,943,547 shares of the company’s stock worth $288,381,000 after purchasing an additional 3,164,092 shares in the last quarter. Magnetar Financial LLC boosted its stake in Sanofi by 1,153.1% in the second 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 period. Jennison Associates LLC boosted its stake in Sanofi by 938.0% in the third 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 period. Thrivent Financial for Lutherans boosted its stake in Sanofi by 28,890.2% in the third quarter. Thrivent Financial for Lutherans now owns 1,429,219 shares of the company’s stock valued at $82,366,000 after acquiring an additional 1,424,289 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in Sanofi by 19.0% in the second quarter. Bank of New York Mellon Corp now owns 8,594,740 shares of the company’s stock valued at $417,017,000 after acquiring an additional 1,370,232 shares during the period. 10.04% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have commented on SNY shares. StockNews.com downgraded Sanofi from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 7th. Citigroup upgraded Sanofi to a “strong-buy” rating in a research note on Tuesday, September 17th. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $57.50.

Sanofi Stock Performance

Shares of NASDAQ SNY opened at $48.01 on Thursday. The company has a current ratio of 1.00, a quick ratio of 0.65 and a debt-to-equity ratio of 0.17. The stock has a 50 day simple moving average of $52.42 and a 200-day simple moving average of $52.14. The company has a market cap of $121.84 billion, a PE ratio of 24.49, a P/E/G ratio of 1.22 and a beta of 0.58. Sanofi has a 12-month low of $45.22 and a 12-month high of $58.97.

Sanofi (NASDAQ:SNY) last issued its quarterly earnings data on Friday, October 25th. The company reported $1.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $1.35. The business had revenue of $13.44 billion during the quarter, compared to the consensus estimate of $16.59 billion. Sanofi had a return on equity of 27.45% and a net margin of 9.96%. The business’s revenue was up 12.3% on a year-over-year basis. During the same period in the previous year, the firm posted $2.55 earnings per share. On average, equities research analysts forecast that Sanofi will post 4.28 EPS for the current year.

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.