Livforsakringsbolaget Skandia Omsesidigt continued to hold its position in shares of Biogen Inc. (NASDAQ:BIIB) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 22,587 shares of the biotechnology company’s stock at the end of the second quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Biogen were worth $6,129,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Dillon & Associates Inc. boosted its position in Biogen by 0.3% in the first quarter. Dillon & Associates Inc. now owns 1,785 shares of the biotechnology company’s stock worth $487,000 after buying an additional 5 shares in the last quarter. Beacon Trust Co. boosted its position in Biogen by 0.5% in the first quarter. Beacon Trust Co. now owns 1,135 shares of the biotechnology company’s stock worth $328,000 after buying an additional 6 shares in the last quarter. Guardian Life Insurance Co. of America boosted its position in Biogen by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 839 shares of the biotechnology company’s stock worth $229,000 after buying an additional 6 shares in the last quarter. Trust Co. of Vermont boosted its position in Biogen by 0.3% in the first quarter. Trust Co. of Vermont now owns 2,412 shares of the biotechnology company’s stock worth $660,000 after buying an additional 7 shares in the last quarter. Finally, Buckingham Capital Management Inc. boosted its position in Biogen by 0.3% in the first quarter. Buckingham Capital Management Inc. now owns 2,452 shares of the biotechnology company’s stock worth $670,000 after buying an additional 8 shares in the last quarter. Institutional investors own 88.70% of the company’s stock.
Biogen Inc. (NASDAQ BIIB) traded down 1.76% during mid-day trading on Thursday, reaching $283.65. The company had a trading volume of 307,926 shares. The firm’s 50 day moving average price is $281.33 and its 200-day moving average price is $273.88. The company has a market capitalization of $59.97 billion, a price-to-earnings ratio of 18.61 and a beta of 0.79. Biogen Inc. has a 12 month low of $244.28 and a 12 month high of $329.83.
Biogen (NASDAQ:BIIB) last issued its quarterly earnings results on Tuesday, July 25th. The biotechnology company reported $5.04 earnings per share for the quarter, topping analysts’ consensus estimates of $4.36 by $0.68. Biogen had a return on equity of 37.42% and a net margin of 28.10%. The company had revenue of $3.08 billion for the quarter, compared to analyst estimates of $2.81 billion. During the same quarter in the prior year, the company posted $5.21 EPS. The business’s revenue for the quarter was up 6.4% compared to the same quarter last year. Equities research analysts anticipate that Biogen Inc. will post $21.44 earnings per share for the current year.
BIIB has been the topic of a number of research analyst reports. Vetr raised Biogen from a “buy” rating to a “strong-buy” rating and set a $311.67 price target on the stock in a report on Tuesday, June 27th. Deutsche Bank AG started coverage on Biogen in a report on Friday, June 23rd. They set a “buy” rating and a $315.00 price objective on the stock. Cowen and Company reaffirmed a “buy” rating and set a $338.00 price objective on shares of Biogen in a report on Tuesday, April 25th. Barclays PLC reaffirmed an “overweight” rating and set a $360.00 price objective (down from $380.00) on shares of Biogen in a report on Sunday, April 23rd. Finally, Credit Suisse Group set a $300.00 price objective on Biogen and gave the stock a “hold” rating in a report on Friday, July 14th. Eleven equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. Biogen currently has a consensus rating of “Buy” and an average price target of $329.74.
In related news, EVP Susan H. Alexander sold 4,974 shares of the stock in a transaction 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 transaction, the executive vice president now directly 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 at this link. Also, Director Brian S. Posner sold 1,084 shares of the stock in a transaction on Friday, June 9th. The stock was sold at an average price of $256.31, for a total value of $277,840.04. Following the completion of the transaction, the director now directly owns 6,330 shares in the company, valued at $1,622,442.30. The disclosure for this sale can be found here. Insiders sold a total of 13,816 shares of company stock worth $3,931,380 over the last ninety days. Corporate insiders own 0.32% of the company’s stock.
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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