Nisa Investment Advisors LLC increased its position in shares of Biogen Inc (NASDAQ:BIIB) by 0.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 88,943 shares of the biotechnology company’s stock after buying an additional 650 shares during the period. Nisa Investment Advisors LLC’s holdings in Biogen were worth $28,335,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of BIIB. Broadleaf Partners LLC acquired a new stake in Biogen during the 4th quarter worth approximately $2,537,000. Rockland Trust Co. bought a new position in shares of Biogen during the fourth quarter valued at approximately $257,000. LGT Capital Partners LTD. grew its holdings in shares of Biogen by 7.7% during the fourth quarter. LGT Capital Partners LTD. now owns 37,890 shares of the biotechnology company’s stock valued at $12,071,000 after purchasing an additional 2,720 shares during the last quarter. Country Trust Bank grew its holdings in shares of Biogen by 2.8% during the fourth quarter. Country Trust Bank now owns 108,588 shares of the biotechnology company’s stock valued at $34,593,000 after purchasing an additional 2,978 shares during the last quarter. Finally, First American Trust FSB bought a new position in shares of Biogen during the fourth quarter valued at approximately $3,227,000. Institutional investors and hedge funds own 88.14% of the company’s stock.
In related news, Director Robert W. Pangia sold 5,832 shares of the company’s stock in a transaction dated Tuesday, January 9th. The shares were sold at an average price of $329.65, for a total value of $1,922,518.80. Following the transaction, the director now owns 23,539 shares in the company, valued at approximately $7,759,631.35. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Alexander J. Denner purchased 30,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 29th. The stock was purchased at an average price of $317.36 per share, for a total transaction of $9,520,800.00. Following the purchase, the director now owns 10,029 shares in the company, valued at $3,182,803.44. The disclosure for this purchase can be found here. Insiders bought a total of 31,560 shares of company stock worth $10,020,858 over the last ninety days. Insiders own 0.25% of the company’s stock.
Shares of Biogen Inc (NASDAQ:BIIB) traded down $2.03 on Friday, hitting $342.41. 1,204,939 shares of the stock were exchanged, compared to its average volume of 1,217,633. The company has a current ratio of 2.19, a quick ratio of 1.90 and a debt-to-equity ratio of 0.46. Biogen Inc has a 1 year low of $244.28 and a 1 year high of $348.84. The company has a market cap of $72,650.00, a price-to-earnings ratio of 20.99, a price-to-earnings-growth ratio of 1.96 and a beta of 0.73.
Biogen (NASDAQ:BIIB) last issued its earnings results on Tuesday, October 24th. The biotechnology company reported $6.31 EPS for the quarter, topping the consensus estimate of $5.70 by $0.61. The company had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $3.05 billion. Biogen had a net margin of 29.44% and a return on equity of 38.51%. The firm’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same period in the previous year, the firm earned $5.19 earnings per share. equities research analysts forecast that Biogen Inc will post 22 EPS for the current year.
A number of equities analysts recently issued reports on the company. Mizuho reissued a “buy” rating and issued a $400.00 price objective on shares of Biogen in a report on Thursday. SunTrust Banks reiterated a “buy” rating and set a $354.00 price objective on shares of Biogen in a research report on Tuesday, October 24th. Raymond James Financial downgraded Biogen from a “strong-buy” rating to a “market perform” rating and increased their price objective for the company from $244.28 to $319.00 in a research report on Thursday, September 21st. HC Wainwright restated a “buy” rating and issued a $340.00 target price on shares of Biogen in a report on Wednesday, October 25th. Finally, Cantor Fitzgerald restated a “hold” rating and issued a $279.00 target price on shares of Biogen in a report on Tuesday, October 24th. Nine research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $353.75.
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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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