10 Best European Dividend Stocks To Buy

4. Sanofi (NASDAQ:SNY)

Dividend Yield as of December 20: 4.27%

Number of Hedge Fund Holders: 32

Sanofi (NASDAQ:SNY) ranks 4th on our list of the best European stocks. Sanofi (NASDAQ:SNY), a Paris-based global healthcare company, develops and markets pharmaceuticals, vaccines, and consumer healthcare products. Its offerings include treatments for rare diseases, oncology, diabetes, cardiovascular conditions, and a variety of vaccines. Sanofi also provides over-the-counter products for colds, allergies, pain relief, and skin care. The company collaborates with leading firms to advance innovative therapies, including antibody-drug conjugates and genome editing technologies.

Sanofi (NASDAQ:SNY) reported a strong Q3, with sales reaching EUR 13.4 billion, reflecting a 16% increase at constant exchange rates. The growth was fueled by strong performances from Dupixent, which saw a global sales boost, and the vaccines business, especially Beyfortus, which showed strong uptake. New medicines launched by Sanofi, including ALTUVIIIO and Nexviazyme, contributed significantly to sales, further solidifying the company’s growth trajectory. Sanofi also highlighted positive Phase 3 results, including expansions for Dupixent in COPD and Bullous pemphigoid, which could drive future growth.

Sanofi (NASDAQ:SNY)’s operational improvements and strong gross margins led to a 19.9% rise in business operating income. The company has raised its 2024 earnings per share (EPS) guidance, reflecting the continued success of its strategy. Sanofi also reiterated its focus on shareholder returns through increased dividends and potential share buybacks. With solid year-on-year growth expected in Q4, Sanofi remains confident in its long-term outlook.

Ariel Global Fund stated the following regarding Sanofi (NASDAQ:SNY) in its Q3 2024 investor letter:

“French pharmaceutical company, Sanofi (NASDAQ:SNY) was another contributor over the quarter as momentum for Dupixent, a dermatitis treatment, drove earnings. Additionally, positive clinical trials for myeloma drug, Sarclisa and a Phase 3 Multiple Sclerosis asset also boosted shares. At current levels, we view Sanofi’s vaccines business as underappreciated and think the immunology pipeline is being overlooked. Also, we continue to be optimistic Dupixent will be a key growth driver.”

32 Wall Street hedge funds reported owning stakes in Sanofi (NASDAQ:SNY) at the end of the third quarter of 2024, with Ken Fisher’s Fisher Asset Management holding the biggest position, with 13.35 million shares worth nearly $770 million.