Eads & Heald Investment Counsel Lowers Stake in Biogen Inc. (BIIB)

Eads & Heald Investment Counsel cut its position in Biogen Inc. (NASDAQ:BIIB) by 13.1% during the second quarter, Holdings Channel reports. The institutional investor owned 1,785 shares of the biotechnology company’s stock after selling 270 shares during the period. Eads & Heald Investment Counsel’s holdings in Biogen were worth $432,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Signaturefd LLC increased its stake in Biogen by 217.7% in the second quarter. Signaturefd LLC now owns 718 shares of the biotechnology company’s stock worth $174,000 after buying an additional 492 shares during the last quarter. BLB&B Advisors LLC acquired a new stake in Biogen during the second quarter worth approximately $206,000. Rehmann Capital Advisory Group increased its stake in Biogen by 14.9% in the second quarter. Rehmann Capital Advisory Group now owns 886 shares of the biotechnology company’s stock worth $214,000 after buying an additional 115 shares during the last quarter. CT Financial Advisors LLC increased its stake in Biogen by 48.3% in the second quarter. CT Financial Advisors LLC now owns 891 shares of the biotechnology company’s stock worth $215,000 after buying an additional 290 shares during the last quarter. Finally, BKD Wealth Advisors LLC increased its stake in Biogen by 8.9% in the second quarter. BKD Wealth Advisors LLC now owns 941 shares of the biotechnology company’s stock worth $228,000 after buying an additional 77 shares during the last quarter. 86.21% of the stock is owned by institutional investors.

Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

Shares of Biogen Inc. (NASDAQ:BIIB) traded down 1.3273% during midday trading on Friday, hitting $290.5024. 520,969 shares of the company were exchanged. The company has a market capitalization of $63.65 billion, a P/E ratio of 16.9696 and a beta of 0.95. Biogen Inc. has a one year low of $223.02 and a one year high of $333.65. The company has a 50-day moving average of $306.44 and a 200 day moving average of $280.68.

Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Thursday, July 21st. The biotechnology company reported $5.21 EPS for the quarter, topping the Zacks’ consensus estimate of $4.69 by $0.52. Biogen had a net margin of 33.97% and a return on equity of 40.59%. The firm earned $2.89 billion during the quarter, compared to analysts’ expectations of $2.79 billion. During the same period in the previous year, the business posted $4.22 earnings per share. The company’s revenue for the quarter was up 11.7% compared to the same quarter last year. On average, equities research analysts expect that Biogen Inc. will post $20.08 earnings per share for the current fiscal year.

BIIB has been the topic of a number of recent analyst reports. Piper Jaffray Cos. restated a “neutral” rating on shares of Biogen in a report on Wednesday, August 3rd. Morgan Stanley boosted their price target on shares of Biogen from $383.00 to $385.00 and gave the company an “overweight” rating in a report on Thursday, July 21st. Jefferies Group restated a “buy” rating and set a $317.00 price target on shares of Biogen in a report on Wednesday, July 13th. Credit Suisse Group AG restated a “hold” rating and set a $312.00 price target on shares of Biogen in a report on Friday, July 22nd. Finally, BMO Capital Markets restated a “market perform” rating and set a $287.00 price target on shares of Biogen in a report on Sunday, July 24th. Ten research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $347.34.

In other Biogen news, EVP Adriana Karaboutis sold 380 shares of Biogen stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $313.00, for a total transaction of $118,940.00. Following the completion of the transaction, the executive vice president now directly owns 7,172 shares of the company’s stock, valued at $2,244,836. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Caroline Dorsa sold 27,570 shares of Biogen stock in a transaction on Thursday, September 22nd. The stock was sold at an average price of $314.00, for a total transaction of $8,656,980.00. Following the transaction, the director now directly owns 19,663 shares of the company’s stock, valued at $6,174,182. The disclosure for this sale can be found here. Company insiders own 0.32% of the company’s stock.

About Biogen

Biogen Inc, formerly Biogen Idec Inc, is a biopharmaceutical company. The Company operates in discovering, developing, manufacturing and delivering therapies to patients for the treatment of neurodegenerative diseases, hematologic conditions and autoimmune disorders segment. The Company markets products, including TECFIDERA, AVONEX, PLEGRIDY, TYSABRI and FAMPYRA for multiple sclerosis (MS), ELOCTATE for hemophilia A and ALPROLIX for hemophilia B, and FUMADERM for the treatment of severe plaque psoriasis.

5 Day Chart for NASDAQ:BIIB

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