Regeneron (NASDAQ:REGN) Pharmaceuticals, Inc. (NASDAQ:REGN) has reported several transactions by its CEO and Board Co-Chair, Leonard S. Schleifer, according to a recent SEC filing. Schleifer executed multiple sales of company stock totaling over $35 million, with prices ranging from $979.05 to $988.76 per share. These transactions occurred over a span of three days, from May 14 to May 15, 2024.
The trading activity began with Schleifer selling 22,698 shares at an average price of $979.16, followed by additional sales totaling 2,302 shares at an average price of $980.10, both on May 14. The following day, Schleifer continued to sell shares in multiple transactions, with prices per share varying slightly but remaining within the high $900s. The largest single sale on May 15 involved 7,864 shares at an average price of $979.05.
In addition to the sales, the filing also revealed that Schleifer acquired 203,204 shares through the exercise of options at a set price of $399.66, resulting in a total transaction value of approximately $81.2 million. This transaction indicated a significant increase in Schleifer's holdings, but it was offset by a disposal of 144,433 shares at a price of $976.79, totaling approximately $141.1 million.
The series of transactions has adjusted Schleifer's direct ownership in Regeneron to 397,786 shares, not including indirect holdings through trusts and other investment plans. The SEC filing notes that these transactions were conducted under a plan that complies with Rule 10b5-1(c), which allows company insiders to set up a predetermined plan to sell stocks at a time when they are not in possession of material non-public information.
Investors often monitor insider transactions for insights into executives' perspectives on their company's stock value and financial health. While the reasons behind Schleifer's stock sales are not disclosed in the filing, the reported transactions provide a transparent view of the CEO's trading activities in accordance with SEC regulations.
InvestingPro Insights
As Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) navigates the market, investors are paying close attention to the recent insider transactions by CEO Leonard S. Schleifer. In light of this, examining the company's financial health and stock performance through InvestingPro data can offer additional insights. Regeneron boasts a robust market capitalization of 105.53 billion USD, reflecting its substantial presence in the biotechnology industry. The company's P/E ratio stands at 27.08, with an adjusted P/E ratio for the last twelve months as of Q1 2024 at 25.07, indicating investor expectations of future earnings growth relative to the current share price.
The company's revenue growth for the last twelve months as of Q1 2024 was 5.9%, showcasing a stable upward trajectory. However, when looking at the quarterly revenue growth for Q1 2024, there was a slight contraction of 0.54%. Despite this, Regeneron's gross profit margin remains strong at 51.31%, emphasizing its ability to maintain profitability. Additionally, the company's EBITDA for the last twelve months as of Q1 2024 stands at 4424.5 million USD, although there has been a decrease in EBITDA growth by 12.85% during the same period.
InvestingPro Tips highlight several key points for investors considering Regeneron's stock. Firstly, management's aggressive share buyback strategy is a sign of confidence in the company's valuation and future prospects. Secondly, the stock's low price volatility could appeal to investors seeking stability in their portfolio. Moreover, with 14 analysts revising their earnings downwards for the upcoming period, it's essential to keep a close eye on future earnings reports. For those interested in a deeper analysis, there are 12 additional InvestingPro Tips available for Regeneron, which can be accessed by visiting InvestingPro.
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