Biogen Inc. (BIIB) Position Cut by Swedbank
Swedbank reduced its position in shares of Biogen Inc. (NASDAQ:BIIB) by 7.8% during the second quarter, Holdings Channel reports. The fund owned 578,425 shares of the biotechnology company’s stock after selling 48,930 shares during the period. Swedbank’s holdings in Biogen were worth $156,961,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Berkshire Asset Management LLC PA boosted 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 worth $601,000 after buying an additional 189 shares during the last quarter. Wrapmanager Inc. boosted its position in 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 boosted its position in 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. Reilly Financial Advisors LLC boosted its position in Biogen by 5.1% in the first quarter. Reilly Financial Advisors LLC now owns 1,130 shares of the biotechnology company’s stock worth $309,000 after buying an additional 55 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in 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 institutional investors.
Biogen Inc. (NASDAQ BIIB) traded up 1.141% during midday trading on Tuesday, hitting $289.315. The stock had a trading volume of 323,932 shares. The company has a market cap of $61.17 billion, a price-to-earnings ratio of 18.985 and a beta of 0.79. Biogen Inc. has a 12-month low of $244.28 and a 12-month high of $304.24. The company has a 50-day moving average price of $281.65 and a 200-day moving average price of $274.04.
Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Tuesday, July 25th. The biotechnology company reported $5.04 earnings per share (EPS) for the quarter, topping 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 company had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $2.81 billion. During the same period in the previous year, the business earned $5.21 EPS. Biogen’s revenue for the quarter was up 6.4% compared to the same quarter last year. Equities analysts anticipate that Biogen Inc. will post $21.44 EPS for the current year.
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Several analysts have recently issued reports on BIIB shares. Vetr raised shares of Biogen from a “buy” rating to a “strong-buy” rating and set a $311.67 price target on the stock in a research report on Tuesday, June 27th. Deutsche Bank AG started coverage on shares of Biogen in a research report on Friday, June 23rd. They set a “buy” rating and a $315.00 price target on the stock. Cowen and Company reissued a “buy” rating and set a $338.00 price target on shares of Biogen in a research report on Tuesday, April 25th. Barclays PLC reissued an “overweight” rating and set a $360.00 price target (down previously from $380.00) on shares of Biogen in a research report on Sunday, April 23rd. Finally, Credit Suisse Group set a $300.00 price target on shares of Biogen and gave the stock a “hold” rating in a research report on Friday, July 14th. Eleven investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $328.81.
In other news, 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 completion of the sale, the executive vice president now directly owns 27,232 shares in the company, valued at approximately $7,761,120. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Brian S. Posner sold 1,084 shares of the business’s stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $256.31, for a total value of $277,840.04. Following the completion of the sale, the director now owns 6,330 shares of the company’s stock, 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 valued at $3,931,380 over the last quarter. Company 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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