Douglass Winthrop Advisors LLC Has $361,000 Holdings in Biogen (BIIB)

Douglass Winthrop Advisors LLC trimmed its holdings in shares of Biogen (NASDAQ:BIIB) by 48.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,317 shares of the biotechnology company’s stock after selling 1,233 shares during the period. Douglass Winthrop Advisors LLC’s holdings in Biogen were worth $361,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of BIIB. Certified Advisory Corp boosted its position in Biogen by 445.2% during the first quarter. Certified Advisory Corp now owns 398 shares of the biotechnology company’s stock valued at $108,000 after buying an additional 325 shares during the period. Captrust Financial Advisors purchased a new stake in Biogen during the fourth quarter valued at about $113,000. Prentiss Smith & Co. Inc. purchased a new stake in Biogen during the fourth quarter valued at about $123,000. Harel Insurance Investments & Financial Services Ltd. boosted its position in Biogen by 77.0% during the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 400 shares of the biotechnology company’s stock valued at $127,000 after buying an additional 174 shares during the period. Finally, Bedel Financial Consulting Inc. purchased a new stake in Biogen during the first quarter valued at about $131,000. Institutional investors and hedge funds own 89.74% of the company’s stock.

In other Biogen news, Director Alexander J. Denner bought 48,000 shares of the firm’s stock in a transaction on Wednesday, April 25th. The stock was acquired at an average price of $269.91 per share, with a total value of $12,955,680.00. Following the completion of the purchase, the director now owns 10,029 shares of the company’s stock, valued at $2,706,927.39. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Alfred Sandrock sold 743 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $292.00, for a total transaction of $216,956.00. Following the transaction, the executive vice president now directly owns 6,553 shares of the company’s stock, valued at approximately $1,913,476. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by company insiders.

Several analysts have issued reports on the stock. William Blair restated a “buy” rating on shares of Biogen in a research report on Thursday, February 15th. SunTrust Banks increased their target price on shares of Biogen to $392.00 and gave the stock a “buy” rating in a report on Friday, January 26th. Oppenheimer increased their target price on shares of Biogen from $380.00 to $400.00 and gave the stock a “buy” rating in a report on Friday, January 26th. Guggenheim set a $385.00 target price on shares of Biogen and gave the stock a “buy” rating in a report on Tuesday, April 24th. Finally, Royal Bank of Canada increased their target price on shares of Biogen to $347.00 and gave the stock a “sector perform” rating in a report on Friday, January 26th. Eleven investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $353.71.

Shares of BIIB opened at $281.51 on Thursday. The company has a quick ratio of 2.95, a current ratio of 3.23 and a debt-to-equity ratio of 0.42. Biogen has a one year low of $276.94 and a one year high of $281.57. The stock has a market capitalization of $58.25 billion, a price-to-earnings ratio of 12.18, a P/E/G ratio of 1.62 and a beta of 0.84.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings data on Tuesday, April 24th. The biotechnology company reported $6.05 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $5.93 by $0.12. Biogen had a net margin of 23.54% and a return on equity of 37.64%. The business had revenue of $3.13 billion during the quarter, compared to analyst estimates of $3.15 billion. During the same period last year, the business posted $5.20 earnings per share. Biogen’s quarterly revenue was up 11.4% compared to the same quarter last year. sell-side analysts predict that Biogen will post 23.9 EPS for the current fiscal year.

Biogen Company Profile

Biogen Inc discovers, develops, manufactures, and delivers therapies for the treatment of neurological and neurodegenerative diseases worldwide. The company offers TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, ZINBRYTA, and FAMPYRA for the treatment of multiple sclerosis (MS); FUMADERM for the treatment of plaque psoriasis; and SPINRAZA to treat spinal muscular atrophy.

Want to see what other hedge funds are holding BIIB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Biogen (NASDAQ:BIIB).

Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

Receive News & Ratings for Biogen Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Biogen and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply