Biogen Inc. (BIIB) Stake Increased by Hills Bank & Trust Co.
Hills Bank & Trust Co. raised its stake in Biogen Inc. (NASDAQ:BIIB) by 4.7% during the second quarter, Holdings Channel reports. The fund owned 4,929 shares of the biotechnology company’s stock after buying an additional 222 shares during the period. Hills Bank & Trust Co.’s holdings in Biogen were worth $1,337,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in BIIB. Pathstone Family Office LLC bought a new position in shares of Biogen during the first quarter valued at about $102,000. Prentiss Smith & Co. Inc. increased its position in shares of Biogen by 14.9% in the second quarter. Prentiss Smith & Co. Inc. now owns 385 shares of the biotechnology company’s stock valued at $104,000 after buying an additional 50 shares during the period. Crestwood Advisors Group LLC bought a new position in shares of Biogen during the first quarter valued at about $106,000. Independent Portfolio Consultants Inc. increased its position in shares of Biogen by 93.2% in the second quarter. Independent Portfolio Consultants Inc. now owns 454 shares of the biotechnology company’s stock valued at $123,000 after buying an additional 219 shares during the period. Finally, Winfield Associates Inc. increased its position in shares of Biogen by 16.8% in the first quarter. Winfield Associates Inc. now owns 467 shares of the biotechnology company’s stock valued at $128,000 after buying an additional 67 shares during the period. Hedge funds and other institutional investors own 88.38% of the company’s stock.
Shares of Biogen Inc. (NASDAQ:BIIB) traded up 1.141% during trading on Tuesday, reaching $289.315. 323,932 shares of the company traded hands. The firm’s 50 day moving average is $281.65 and its 200-day moving average is $274.04. Biogen Inc. has a 12-month low of $244.28 and a 12-month high of $304.24. The stock has a market capitalization of $61.17 billion, a P/E ratio of 18.985 and a beta of 0.79.
Biogen (NASDAQ:BIIB) last announced its quarterly earnings results on Tuesday, July 25th. The biotechnology company reported $5.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.36 by $0.68. Biogen had a net margin of 28.10% and a return on equity of 37.42%. The company had revenue of $3.08 billion for the quarter, compared to analysts’ expectations of $2.81 billion. During the same quarter in the previous year, the company earned $5.21 earnings per share. Biogen’s quarterly revenue was up 6.4% on a year-over-year basis. On average, equities research analysts anticipate that Biogen Inc. will post $21.44 earnings per share for the current fiscal year.
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Several brokerages have recently issued reports on BIIB. Vetr upgraded shares of Biogen from a “buy” rating to a “strong-buy” rating and set a $319.53 price target for the company in a report on Thursday, August 10th. BidaskClub upgraded shares of Biogen from a “hold” rating to a “buy” rating in a report on Friday, August 4th. Cowen and Company reiterated a “buy” rating on shares of Biogen in a report on Thursday, July 27th. BMO Capital Markets reiterated a “market perform” rating and set a $328.00 price target (up from $317.00) on shares of Biogen in a report on Wednesday, July 26th. Finally, UBS AG reiterated a “neutral” rating and set a $285.00 price target (up from $270.00) on shares of Biogen in a report on Wednesday, July 26th. Eleven research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $328.81.
In related news, Director Brian S. Posner sold 1,084 shares of the business’s stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $256.31, for a total transaction of $277,840.04. Following the transaction, the director now owns 6,330 shares in the company, valued at $1,622,442.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Susan H. Alexander sold 4,974 shares of the business’s stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $290.01, for a total transaction of $1,442,509.74. Following the transaction, the executive vice president now owns 22,258 shares in the company, valued at approximately $6,455,042.58. The disclosure for this sale can be found here. Insiders have sold 13,816 shares of company stock worth $3,931,380 in the last quarter. 0.32% of the stock is owned by corporate insiders.
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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