Tiverton Asset Management LLC Has $194,000 Position in Biogen (BIIB)

Tiverton Asset Management LLC lessened its holdings in Biogen (NASDAQ:BIIB) by 63.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 709 shares of the biotechnology company’s stock after selling 1,212 shares during the period. Tiverton Asset Management LLC’s holdings in Biogen were worth $194,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of BIIB. Buckingham Capital Management Inc. increased its stake in Biogen by 13.2% in the 3rd quarter. Buckingham Capital Management Inc. now owns 2,723 shares of the biotechnology company’s stock valued at $853,000 after buying an additional 318 shares during the last quarter. Atria Investments LLC increased its stake in Biogen by 25.0% in the 4th quarter. Atria Investments LLC now owns 4,756 shares of the biotechnology company’s stock valued at $1,515,000 after buying an additional 950 shares during the last quarter. Bank of Montreal Can increased its stake in Biogen by 21.4% in the 4th quarter. Bank of Montreal Can now owns 246,846 shares of the biotechnology company’s stock valued at $78,638,000 after buying an additional 43,465 shares during the last quarter. Creative Planning increased its stake in Biogen by 7.7% in the 4th quarter. Creative Planning now owns 28,281 shares of the biotechnology company’s stock valued at $9,009,000 after buying an additional 2,013 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. increased its stake in Biogen by 7.3% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 832,638 shares of the biotechnology company’s stock valued at $265,274,000 after buying an additional 56,333 shares during the last quarter. Hedge funds and other institutional investors own 89.74% of the company’s stock.

In related news, EVP Alfred Sandrock sold 259 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $290.83, for a total value of $75,324.97. Following the completion of the transaction, the executive vice president now directly owns 6,553 shares of the company’s stock, valued at approximately $1,905,808.99. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Alexander J. Denner acquired 48,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 25th. The stock was acquired at an average cost of $269.91 per share, with a total value of $12,955,680.00. Following the completion of the acquisition, the director now owns 10,029 shares in the company, valued at approximately $2,706,927.39. The disclosure for this purchase can be found here. 0.25% of the stock is currently owned by company insiders.

Biogen opened at $280.40 on Friday, according to MarketBeat.com. The company has a market capitalization of $59.20 billion, a P/E ratio of 12.86, a price-to-earnings-growth ratio of 1.64 and a beta of 0.84. Biogen has a 12 month low of $244.28 and a 12 month high of $370.57. 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 (NASDAQ:BIIB) last released 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. The company had revenue of $3.13 billion during the quarter, compared to the consensus estimate of $3.15 billion. Biogen had a net margin of 23.54% and a return on equity of 37.64%. Biogen’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same period last year, the firm earned $5.20 EPS. equities analysts expect that Biogen will post 23.9 earnings per share for the current year.

Several research firms have commented on BIIB. Robert W. Baird upgraded shares of Biogen from a “neutral” rating to an “outperform” rating in a research note on Wednesday, April 25th. BMO Capital Markets reiterated a “buy” rating on shares of Biogen in a research note on Thursday, January 25th. JPMorgan Chase reiterated a “buy” rating on shares of Biogen in a research note on Thursday, February 8th. Mizuho set a $423.00 price objective on shares of Biogen and gave the company a “buy” rating in a research note on Thursday, May 3rd. Finally, Oppenheimer increased their price objective on shares of Biogen from $380.00 to $400.00 and gave the company a “buy” rating in a research note on Friday, January 26th. Eleven research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. The company has an average rating of “Buy” and an average target price of $353.71.

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.

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Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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