Biogen Inc (BIIB) Shares Bought by Massachusetts Financial Services Co. MA

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Massachusetts Financial Services Co. MA boosted its holdings in Biogen Inc (NASDAQ:BIIB) by 2.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,909,571 shares of the biotechnology company’s stock after purchasing an additional 47,142 shares during the period. Massachusetts Financial Services Co. MA owned about 0.95% of Biogen worth $574,628,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of BIIB. BlackRock Inc. raised its stake in shares of Biogen by 0.4% during the 4th quarter. BlackRock Inc. now owns 16,568,963 shares of the biotechnology company’s stock valued at $4,985,931,000 after purchasing an additional 70,603 shares during the period. Oregon Public Employees Retirement Fund raised its stake in shares of Biogen by 27,620.0% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 14,309,047 shares of the biotechnology company’s stock valued at $48,000 after purchasing an additional 14,257,427 shares during the period. AQR Capital Management LLC raised its stake in shares of Biogen by 6.5% during the 3rd quarter. AQR Capital Management LLC now owns 3,024,037 shares of the biotechnology company’s stock valued at $1,068,422,000 after purchasing an additional 183,542 shares during the period. Capital World Investors raised its stake in shares of Biogen by 503.2% during the 3rd quarter. Capital World Investors now owns 2,473,708 shares of the biotechnology company’s stock valued at $873,986,000 after purchasing an additional 2,063,598 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in shares of Biogen by 3.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,362,136 shares of the biotechnology company’s stock valued at $685,588,000 after purchasing an additional 72,668 shares during the period. 88.94% of the stock is currently owned by institutional investors and hedge funds.

In other Biogen news, Director Alexander J. Denner acquired 7,000 shares of the company’s stock in a transaction on Friday, February 1st. The stock was acquired at an average price of $328.45 per share, for a total transaction of $2,299,150.00. Following the acquisition, the director now owns 10,909 shares in the company, valued at approximately $3,583,061.05. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Alexander J. Denner acquired 30,000 shares of the company’s stock in a transaction on Wednesday, January 30th. The stock was acquired at an average price of $324.86 per share, with a total value of $9,745,800.00. Following the acquisition, the director now owns 10,909 shares in the company, valued at approximately $3,543,897.74. The disclosure for this purchase can be found here. Corporate insiders own 0.29% of the company’s stock.

A number of equities analysts have weighed in on the company. BidaskClub upgraded Biogen from a “hold” rating to a “buy” rating in a research note on Thursday, December 13th. Oppenheimer set a $380.00 target price on Biogen and gave the stock a “buy” rating in a research note on Wednesday, December 12th. Cantor Fitzgerald restated a “buy” rating and issued a $400.00 target price on shares of Biogen in a research note on Wednesday, December 12th. BTIG Research assumed coverage on Biogen in a research note on Wednesday, December 26th. They issued a “buy” rating on the stock. Finally, JPMorgan Chase & Co. restated a “buy” rating on shares of Biogen in a research note on Thursday, January 10th. Ten analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $370.28.

Shares of BIIB stock opened at $327.48 on Tuesday. The stock has a market cap of $64.42 billion, a P/E ratio of 12.50, a P/E/G ratio of 1.15 and a beta of 1.13. Biogen Inc has a 1-year low of $249.17 and a 1-year high of $388.67. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.32 and a quick ratio of 2.04.

Biogen (NASDAQ:BIIB) last issued its earnings results on Tuesday, January 29th. The biotechnology company reported $6.99 earnings per share for the quarter, beating the consensus estimate of $6.72 by $0.27. The company had revenue of $3.53 billion during the quarter, compared to analysts’ expectations of $3.39 billion. Biogen had a return on equity of 40.53% and a net margin of 32.94%. Biogen’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same period in the prior year, the business posted $5.26 EPS. As a group, equities research analysts expect that Biogen Inc will post 28.68 EPS for the current fiscal year.

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Biogen Company Profile

Biogen Inc discovers, develops, manufactures, and delivers therapies for treating 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.

Further Reading: How to Invest in a Bull Market

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Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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