Sanofi (NASDAQ:SNY) Shares Gap Down to $50.21

Sanofi (NASDAQ:SNY)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $50.21, but opened at $49.09. Sanofi shares last traded at $49.22, with a volume of 169,587 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on SNY shares. Morgan Stanley started coverage on Sanofi in a research note on Tuesday, January 23rd. They set an “equal weight” rating and a $55.00 target price for the company. StockNews.com cut Sanofi from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 27th. Finally, TheStreet cut Sanofi from a “b” rating to a “c” rating in a research note on Friday, February 9th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Sanofi presently has a consensus rating of “Moderate Buy” and an average target price of $55.00.

Sanofi Stock Performance

The company has a current ratio of 1.27, a quick ratio of 0.87 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $123.50 billion, a price-to-earnings ratio of 24.53, a price-to-earnings-growth ratio of 1.40 and a beta of 0.61. The company has a 50-day moving average of $48.17 and a 200-day moving average of $48.08.

Sanofi Increases Dividend

The company also recently declared an annual dividend, which will be paid on Thursday, June 6th. Stockholders of record on Friday, May 10th will be given a dividend of $1.478 per share. The ex-dividend date of this dividend is Thursday, May 9th. This represents a dividend yield of 2.98%. This is a positive change from Sanofi’s previous annual dividend of $1.38. Sanofi’s dividend payout ratio is currently 73.87%.

Institutional Trading of Sanofi

Several hedge funds have recently bought and sold shares of the company. Mondrian Investment Partners LTD increased its holdings in shares of Sanofi by 43.1% during the first quarter. Mondrian Investment Partners LTD now owns 3,951,089 shares of the company’s stock valued at $192,023,000 after purchasing an additional 1,190,141 shares during the period. Armistice Capital LLC acquired a new position in Sanofi during the 4th quarter valued at about $51,520,000. Bank of New York Mellon Corp raised its position in shares of Sanofi by 16.5% during the 1st quarter. Bank of New York Mellon Corp now owns 7,224,508 shares of the company’s stock worth $351,111,000 after buying an additional 1,021,077 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in shares of Sanofi by 3,440.6% in the 1st quarter. BNP Paribas Financial Markets now owns 1,033,549 shares of the company’s stock worth $50,230,000 after acquiring an additional 1,004,358 shares during the period. Finally, Morningstar Investment Services LLC increased its stake in shares of Sanofi by 99.5% during the fourth quarter. Morningstar Investment Services LLC now owns 1,486,949 shares of the company’s stock valued at $73,425,000 after acquiring an additional 741,456 shares during the period. 10.04% of the stock is currently owned by institutional investors.

About Sanofi

Sanofi, a healthcare company, engages in the research, development, manufacture, and marketing of therapeutic solutions in the United States, Europe, 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.