Livforsakringsbolaget Skandia Omsesidigt trimmed its holdings in shares of Biogen Inc (NASDAQ:BIIB) by 9.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 20,387 shares of the biotechnology company’s stock after selling 2,200 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Biogen were worth $6,495,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. HPM Partners LLC increased its holdings in Biogen by 11.8% in the second quarter. HPM Partners LLC now owns 1,976 shares of the biotechnology company’s stock valued at $536,000 after buying an additional 208 shares during the last quarter. Aberdeen Asset Management PLC UK increased its holdings in Biogen by 7.4% in the second quarter. Aberdeen Asset Management PLC UK now owns 114,574 shares of the biotechnology company’s stock valued at $31,091,000 after buying an additional 7,879 shares during the last quarter. Jacobi Capital Management LLC increased its holdings in Biogen by 3.2% in the second quarter. Jacobi Capital Management LLC now owns 1,609 shares of the biotechnology company’s stock valued at $440,000 after buying an additional 50 shares during the last quarter. Martingale Asset Management L P increased its holdings in Biogen by 2.7% in the second quarter. Martingale Asset Management L P now owns 11,659 shares of the biotechnology company’s stock valued at $3,164,000 after buying an additional 301 shares during the last quarter. Finally, Vantage Financial Partners Ltd. Inc. bought a new stake in Biogen in the second quarter valued at about $515,000. 88.14% of the stock is currently owned by institutional investors and hedge funds.
Several research firms have recently commented on BIIB. SunTrust Banks began coverage on Biogen in a report on Wednesday, September 20th. They set a “buy” rating and a $360.00 target price for the company. Raymond James Financial lowered Biogen from a “strong-buy” rating to a “market perform” rating and upped their target price for the company from $244.28 to $319.00 in a report on Thursday, September 21st. Mizuho reaffirmed a “neutral” rating and set a $319.00 target price on shares of Biogen in a report on Monday, October 2nd. Morgan Stanley raised Biogen from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $311.00 to $375.00 in a report on Thursday, October 5th. Finally, Royal Bank of Canada reaffirmed a “hold” rating and set a $315.00 target price on shares of Biogen in a report on Thursday, October 5th. Nine research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company’s stock. Biogen presently has a consensus rating of “Buy” and a consensus target price of $353.75.
Biogen (NASDAQ:BIIB) last issued its quarterly earnings data on Tuesday, October 24th. The biotechnology company reported $6.31 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $5.70 by $0.61. The business had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.05 billion. Biogen had a return on equity of 38.51% and a net margin of 29.44%. The business’s revenue was up 4.1% on a year-over-year basis. During the same period in the previous year, the firm posted $5.19 earnings per share. research analysts anticipate that Biogen Inc will post 21.99 EPS for the current year.
In other news, CEO Michel Vounatsos bought 780 shares of the business’s stock in a transaction on Friday, December 29th. The stock was purchased at an average cost of $320.55 per share, for a total transaction of $250,029.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Alexander J. Denner bought 30,000 shares of the business’s stock in a transaction on Wednesday, November 29th. The stock was purchased at an average price of $317.36 per share, with a total value of $9,520,800.00. Following the completion of the transaction, the director now directly owns 10,029 shares of the company’s stock, valued at $3,182,803.44. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 31,560 shares of company stock valued at $10,020,858. Insiders own 0.25% of the company’s stock.
Biogen Company Profile
Biogen Inc is a biopharmaceutical company. The Company focuses on discovering, developing, manufacturing and delivering therapies to people living with serious neurological, rare and autoimmune diseases. The Company markets products, including TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, ZINBRYTA and FAMPYRA for multiple sclerosis (MS), FUMADERM for the treatment of severe plaque psoriasis and SPINRAZA for the treatment of spinal muscular atrophy (SMA).
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