Institutional & Family Asset Management LLC lifted its holdings in Biogen Inc (NASDAQ:BIIB) by 19.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,310 shares of the biotechnology company’s stock after purchasing an additional 384 shares during the period. Institutional & Family Asset Management LLC’s holdings in Biogen were worth $723,000 as of its most recent filing with the SEC.
Several other institutional investors have also bought and sold shares of BIIB. Janus Henderson Group PLC grew its position in Biogen by 4,585.3% during the second quarter. Janus Henderson Group PLC now owns 1,445,560 shares of the biotechnology company’s stock worth $392,265,000 after buying an additional 1,414,707 shares in the last quarter. Ameriprise Financial Inc. grew its position in Biogen by 35.1% during the third quarter. Ameriprise Financial Inc. now owns 2,309,394 shares of the biotechnology company’s stock worth $723,142,000 after buying an additional 600,384 shares in the last quarter. FMR LLC grew its position in Biogen by 10.1% during the second quarter. FMR LLC now owns 6,104,026 shares of the biotechnology company’s stock worth $1,656,390,000 after buying an additional 561,436 shares in the last quarter. Bank of New York Mellon Corp grew its position in Biogen by 24.0% during the third quarter. Bank of New York Mellon Corp now owns 2,325,987 shares of the biotechnology company’s stock worth $728,314,000 after buying an additional 450,207 shares in the last quarter. Finally, TIAA CREF Investment Management LLC grew its position in Biogen by 28.8% during the second quarter. TIAA CREF Investment Management LLC now owns 1,906,820 shares of the biotechnology company’s stock worth $517,434,000 after buying an additional 426,821 shares in the last quarter. Institutional investors and hedge funds own 88.30% of the company’s stock.
Biogen Inc (BIIB) opened at $323.55 on Friday. Biogen Inc has a one year low of $244.28 and a one year high of $348.84. The company has a quick ratio of 1.90, a current ratio of 2.19 and a debt-to-equity ratio of 0.46. The stock has a market cap of $69,311.55, a P/E ratio of 15.18, a PEG ratio of 2.05 and a beta of 0.73.
Biogen (NASDAQ:BIIB) last posted its earnings results on Tuesday, October 24th. The biotechnology company reported $6.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.70 by $0.61. Biogen had a net margin of 29.44% and a return on equity of 38.51%. The company had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $3.05 billion. During the same quarter in the previous year, the company posted $5.19 earnings per share. Biogen’s quarterly revenue was up 4.1% compared to the same quarter last year. sell-side analysts forecast that Biogen Inc will post 22.03 EPS for the current fiscal year.
In other news, Director Alexander J. Denner bought 30,000 shares of the business’s stock in a transaction dated Wednesday, November 29th. The stock was bought at an average price of $317.36 per share, for a total transaction of $9,520,800.00. Following the completion of the purchase, the director now owns 10,029 shares of the company’s stock, valued at approximately $3,182,803.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.25% of the company’s stock.
A number of equities research analysts recently weighed in on the company. SunTrust Banks assumed coverage on Biogen in a research report on Wednesday, September 20th. They set a “buy” rating and a $360.00 target price on the stock. Mizuho reaffirmed a “neutral” rating and set a $319.00 price objective (up from $274.00) on shares of Biogen in a report on Wednesday, September 13th. Raymond James Financial downgraded Biogen from a “strong-buy” rating to a “market perform” rating and lifted their price objective for the company from $244.28 to $319.00 in a report on Thursday, September 21st. HC Wainwright reaffirmed a “buy” rating and set a $340.00 price objective on shares of Biogen in a report on Wednesday, October 25th. Finally, Vetr downgraded Biogen from a “buy” rating to a “hold” rating and set a $316.82 price objective on the stock. in a report on Monday, September 4th. Twelve investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $344.60.
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).
Want to see what other hedge funds are holding BIIB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Biogen Inc (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.