Cidel Asset Management Inc. Acquires 350,417 Shares of Sanofi (NASDAQ:SNY)

Cidel Asset Management Inc. increased its holdings in shares of Sanofi (NASDAQ:SNY) by 212.9% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 515,036 shares of the company’s stock after purchasing an additional 350,417 shares during the quarter. Cidel Asset Management Inc.’s holdings in Sanofi were worth $27,122,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Mercer Global Advisors Inc. ADV increased its stake in Sanofi by 14.8% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 57,420 shares of the company’s stock worth $3,024,000 after purchasing an additional 7,388 shares in the last quarter. Nicholas Hoffman & Company LLC. grew its stake in shares of Sanofi by 43.2% during the 2nd quarter. Nicholas Hoffman & Company LLC. now owns 26,879 shares of the company’s stock worth $1,415,000 after acquiring an additional 8,104 shares in the last quarter. Ethic Inc. grew its stake in shares of Sanofi by 36.0% during the 2nd quarter. Ethic Inc. now owns 30,920 shares of the company’s stock worth $1,628,000 after acquiring an additional 8,193 shares in the last quarter. BNP Paribas Arbitrage SA grew its stake in shares of Sanofi by 171.7% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,858 shares of the company’s stock worth $256,000 after acquiring an additional 3,070 shares in the last quarter. Finally, Atria Investments LLC grew its stake in shares of Sanofi by 23.5% during the 2nd quarter. Atria Investments LLC now owns 35,161 shares of the company’s stock worth $1,852,000 after acquiring an additional 6,701 shares in the last quarter. 8.02% of the stock is owned by institutional investors and hedge funds.

In other news, major shareholder Sanofi purchased 66,667 shares of the business’s stock in a transaction dated Monday, August 2nd. The shares were purchased at an average cost of $15.00 per share, with a total value of $1,000,005.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 1.00% of the company’s stock.

Shares of NASDAQ SNY traded down $0.20 during mid-day trading on Wednesday, reaching $48.08. The company had a trading volume of 51,151 shares, compared to its average volume of 1,984,122. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.06 and a current ratio of 1.54. Sanofi has a one year low of $44.76 and a one year high of $54.26. The firm has a market cap of $121.24 billion, a price-to-earnings ratio of 17.53, a PEG ratio of 1.38 and a beta of 0.56. The business’s 50-day simple moving average is $51.43 and its 200 day simple moving average is $51.25.

Sanofi (NASDAQ:SNY) last issued its quarterly earnings results on Thursday, July 29th. The company reported $0.83 EPS for the quarter, topping the Zacks’ consensus estimate of $0.79 by $0.04. Sanofi had a return on equity of 24.31% and a net margin of 16.02%. The company had revenue of $10.53 billion for the quarter, compared to analysts’ expectations of $10.29 billion. On average, sell-side analysts anticipate that Sanofi will post 3.85 EPS for the current year.

Several equities research analysts have recently commented on the company. Morgan Stanley reissued an “overweight” rating on shares of Sanofi in a report on Friday, August 6th. UBS Group reaffirmed a “buy” rating on shares of Sanofi in a report on Thursday, August 12th. Finally, JPMorgan Chase & Co. reaffirmed an “overweight” rating on shares of Sanofi in a report on Friday, July 30th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $53.00.

About Sanofi

Sanofi engages in the research, production, and distribution of pharmaceutical products. It operates through the following business segments: Pharmaceuticals, Consumer Healthcare, and Vaccines. The Pharmaceuticals segment comprises the commercial operations of the following global franchises: specialty care, diabetes and cardiovascular, established prescription products and generics, and research, development, and production activities.

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Institutional Ownership by Quarter for Sanofi (NASDAQ:SNY)

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