Muhlenkamp & Co. Inc. lowered its position in shares of Biogen Inc (NASDAQ:BIIB) by 10.4% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 24,682 shares of the biotechnology company’s stock after selling 2,865 shares during the quarter. Biogen comprises 2.3% of Muhlenkamp & Co. Inc.’s holdings, making the stock its 18th biggest position. Muhlenkamp & Co. Inc.’s holdings in Biogen were worth $7,863,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Prentiss Smith & Co. Inc. acquired a new position in Biogen in the fourth quarter valued at about $123,000. Harel Insurance Investments & Financial Services Ltd. raised its stake in Biogen by 77.0% in the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 400 shares of the biotechnology company’s stock valued at $127,000 after purchasing an additional 174 shares in the last quarter. Horan Capital Advisors LLC. acquired a new position in Biogen in the third quarter valued at about $128,000. Massey Quick Simon & CO. LLC raised its stake in Biogen by 84.8% in the third quarter. Massey Quick Simon & CO. LLC now owns 425 shares of the biotechnology company’s stock valued at $133,000 after purchasing an additional 195 shares in the last quarter. Finally, Pinnacle Wealth Planning Services Inc. acquired a new position in Biogen in the fourth quarter valued at about $133,000. 87.93% of the stock is owned by institutional investors.
A number of research firms recently commented on BIIB. Royal Bank of Canada reaffirmed a “hold” rating and issued a $321.00 price target on shares of Biogen in a research note on Tuesday, December 5th. Nomura boosted their price target on Biogen from $355.00 to $420.00 and gave the company a “buy” rating in a research note on Saturday, December 30th. William Blair reaffirmed a “buy” rating on shares of Biogen in a research note on Thursday, February 15th. BidaskClub raised Biogen from a “hold” rating to a “buy” rating in a research note on Friday, January 5th. Finally, Mizuho set a $400.00 price target on Biogen and gave the company a “buy” rating in a research note on Monday, November 13th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and twenty-two have given a buy rating to the company. Biogen currently has an average rating of “Buy” and an average price target of $370.07.
Biogen (NASDAQ:BIIB) last released its quarterly earnings results on Thursday, January 25th. The biotechnology company reported $5.26 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $5.44 by ($0.18). The firm had revenue of $3.31 billion for the quarter, compared to the consensus estimate of $3.08 billion. Biogen had a return on equity of 38.32% and a net margin of 20.69%. The business’s revenue for the quarter was up 15.1% on a year-over-year basis. During the same quarter last year, the firm posted $5.04 earnings per share. equities research analysts forecast that Biogen Inc will post 24.87 EPS for the current year.
In other news, EVP Alfred Sandrock sold 259 shares of the business’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $290.83, for a total transaction of $75,324.97. Following the sale, the executive vice president now directly owns 6,553 shares in the company, valued at $1,905,808.99. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Robert W. Pangia sold 5,832 shares of the business’s stock in a transaction dated Tuesday, January 9th. The stock was sold at an average price of $329.65, for a total value of $1,922,518.80. Following the sale, the director now owns 23,539 shares in the company, valued at $7,759,631.35. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 8,128 shares of company stock worth $2,601,512. Company insiders own 0.25% of the company’s stock.
TRADEMARK VIOLATION WARNING: This report was originally posted by Ticker Report and is the sole property of of Ticker Report. If you are reading this report on another domain, it was illegally stolen and republished in violation of U.S. and international trademark & copyright legislation. The original version of this report can be accessed at https://www.tickerreport.com/banking-finance/3255859/muhlenkamp-co-inc-reduces-stake-in-biogen-inc-biib.html.
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).
Want to see what other hedge funds are holding BIIB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Biogen Inc (NASDAQ:BIIB).
Receive News & Ratings for Biogen Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Biogen and related companies with MarketBeat.com's FREE daily email newsletter.