Court Place Advisors LLC lowered its stake in Biogen Inc. (NASDAQ:BIIB) by 0.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,228 shares of the biotechnology company’s stock after selling 60 shares during the period. Biogen makes up 1.8% of Court Place Advisors LLC’s portfolio, making the stock its 13th largest position. Court Place Advisors LLC’s holdings in Biogen were worth $3,861,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently bought and sold shares of the company. Berkshire Asset Management LLC PA increased its position in Biogen by 9.4% in the first quarter. Berkshire Asset Management LLC PA now owns 2,197 shares of the biotechnology company’s stock valued at $601,000 after buying an additional 189 shares during the period. Wrapmanager Inc. increased its stake in shares of Biogen by 7.7% in the first quarter. Wrapmanager Inc. now owns 5,525 shares of the biotechnology company’s stock worth $1,511,000 after buying an additional 396 shares during the last quarter. Savant Capital LLC increased its stake in shares of Biogen by 3.7% in the first quarter. Savant Capital LLC now owns 846 shares of the biotechnology company’s stock worth $231,000 after buying an additional 30 shares during the last quarter. Boltwood Capital Management increased its stake in shares of Biogen by 18.3% in the first quarter. Boltwood Capital Management now owns 2,460 shares of the biotechnology company’s stock worth $672,000 after buying an additional 380 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Biogen by 2.4% in the first quarter. Vanguard Group Inc. now owns 14,352,490 shares of the biotechnology company’s stock worth $3,924,258,000 after buying an additional 342,568 shares during the last quarter. 88.38% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Biogen Inc. (NASDAQ BIIB) traded down 0.93% during trading on Friday, hitting $281.77. The company had a trading volume of 814,072 shares. The company has a market capitalization of $59.57 billion, a P/E ratio of 18.49 and a beta of 0.79. Biogen Inc. has a 52 week low of $244.28 and a 52 week high of $304.23. The stock’s 50-day moving average price is $283.10 and its 200 day moving average price is $274.37.
Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Tuesday, July 25th. The biotechnology company reported $5.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.36 by $0.68. Biogen had a return on equity of 37.42% and a net margin of 28.10%. The business had revenue of $3.08 billion for the quarter, compared to analysts’ expectations of $2.81 billion. During the same period last year, the firm earned $5.21 earnings per share. The company’s revenue for the quarter was up 6.4% compared to the same quarter last year. On average, equities research analysts forecast that Biogen Inc. will post $21.44 earnings per share for the current year.
A number of research firms have recently commented on BIIB. Vetr raised shares of Biogen from a “buy” rating to a “strong-buy” rating and set a $319.53 target price for the company in a report on Thursday. Goldman Sachs Group, Inc. (The) upgraded shares of Biogen from a “buy” rating to a “conviction-buy” rating and set a $338.00 price objective for the company in a report on Wednesday. BidaskClub upgraded shares of Biogen from a “hold” rating to a “buy” rating in a report on Friday, August 4th. Cowen and Company reiterated a “buy” rating on shares of Biogen in a report on Thursday, July 27th. Finally, BMO Capital Markets restated a “market perform” rating and set a $328.00 price target (up previously from $317.00) on shares of Biogen in a report on Wednesday, July 26th. Eleven analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $328.81.
In other Biogen news, EVP Susan H. Alexander sold 4,974 shares of Biogen stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $290.01, for a total value of $1,442,509.74. Following the sale, the executive vice president now owns 22,258 shares of the company’s stock, valued at approximately $6,455,042.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Susan H. Alexander sold 7,758 shares of the business’s stock in a transaction that occurred on Wednesday, July 19th. The stock was sold at an average price of $285.00, for a total value of $2,211,030.00. Following the sale, the executive vice president now directly owns 27,232 shares in the company, valued at approximately $7,761,120. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 13,816 shares of company stock worth $3,931,380. 0.32% of the stock is owned by insiders.
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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