Healthcare company Sanofi (NASDAQ:SNY) reported a mixed set of fourth-quarter numbers. Following the earnings announcement, shares of the company tanked about 3% in Friday’s early trade.
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Revenue increased 7.3% year-over-year to €10.7 billion but missed the analysts’ expectations of €10.96. The top-line growth can be attributed to higher demand for Dupixent within its Specialty Care portfolio.
Meanwhile, earnings per share of €1.71 surpassed the Street’s estimates by a penny and increased 24% from the same quarter last year.
Looking forward, the company expects EPS to grow in the low single digits in 2023. Moreover, Sanofi expects its drug, Dupixent, sales to reach €10 billion by 2023.
Furthermore, the board has proposed an annual dividend of €3.56, reflecting an increase of 6.9%.
Is Sanofi a Good Stock to Buy?
Overall, SNY stock has a Moderate Buy consensus rating based on two Buys. The average price target of $65 implies 37.6% upside potential. Shares of the company have gained 10.3% over the past three months.