Xact Kapitalforvaltning AB lifted its holdings in Biogen Inc (NASDAQ:BIIB) by 3.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 45,961 shares of the biotechnology company’s stock after acquiring an additional 1,524 shares during the period. Xact Kapitalforvaltning AB’s holdings in Biogen were worth $10,749,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Northwest Wealth Management LLC increased its position in shares of Biogen by 188.9% in the first quarter. Northwest Wealth Management LLC now owns 104 shares of the biotechnology company’s stock worth $25,000 after acquiring an additional 68 shares in the last quarter. Resources Investment Advisors Inc. grew its holdings in Biogen by 500.0% during the 1st quarter. Resources Investment Advisors Inc. now owns 120 shares of the biotechnology company’s stock valued at $28,000 after purchasing an additional 100 shares in the last quarter. Weaver Consulting Group acquired a new stake in Biogen during the 1st quarter valued at $28,000. Private Ocean LLC acquired a new stake in Biogen during the 1st quarter valued at $31,000. Finally, Somerset Trust Co grew its holdings in Biogen by 150.0% during the 1st quarter. Somerset Trust Co now owns 140 shares of the biotechnology company’s stock valued at $33,000 after purchasing an additional 84 shares in the last quarter. 87.47% of the stock is owned by institutional investors.

A number of equities research analysts recently weighed in on BIIB shares. JPMorgan Chase & Co. lowered their price target on shares of Teck Resources from C$56.00 to C$55.00 in a report on Wednesday, April 24th. Raymond James lowered their price target on shares of Marathon Petroleum from $90.00 to $85.00 and set a “strong-buy” rating for the company in a report on Wednesday, April 10th. BidaskClub lowered shares of Weyco Group from a “sell” rating to a “strong sell” rating in a report on Saturday, July 13th. Royal Bank of Canada set a $165.00 price target on shares of Allergan and gave the company a “hold” rating in a report on Monday, March 25th. Finally, Standpoint Research raised shares of CVS Health from a “hold” rating to a “buy” rating in a report on Wednesday, June 5th. Four equities research analysts have rated the stock with a sell rating, twenty-four have given a hold rating and six have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $277.36.

In other news, Director Alexander J. Denner acquired 118,342 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The shares were purchased at an average cost of $229.94 per share, for a total transaction of $27,211,559.48. Following the transaction, the director now directly owns 10,909 shares in the company, valued at approximately $2,508,415.46. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michel Vounatsos acquired 4,351 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was purchased at an average price of $231.48 per share, for a total transaction of $1,007,169.48. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 173,035 shares of company stock worth $39,759,632. Insiders own 0.39% of the company’s stock.

Shares of Biogen stock traded up $11.12 during trading hours on Tuesday, reaching $243.60. The company’s stock had a trading volume of 2,608,822 shares, compared to its average volume of 1,437,448. The business’s 50 day moving average price is $232.64. The company has a current ratio of 2.84, a quick ratio of 2.60 and a debt-to-equity ratio of 0.43. Biogen Inc has a one year low of $216.12 and a one year high of $388.67. The stock has a market capitalization of $44.84 billion, a PE ratio of 9.30, a P/E/G ratio of 0.92 and a beta of 0.97.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings results on Tuesday, July 23rd. The biotechnology company reported $9.15 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $7.58 by $1.57. Biogen had a net margin of 33.79% and a return on equity of 41.39%. The company had revenue of $3.62 billion for the quarter, compared to the consensus estimate of $3.48 billion. During the same period last year, the firm posted $5.80 EPS. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. Analysts expect that Biogen Inc will post 29.8 EPS for the current year.

Biogen Profile

Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases worldwide. The company offers TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for the treatment of multiple sclerosis (MS); SPINRAZA for the treatment of spinal muscular atrophy; and FUMADERM for the treatment of plaque psoriasis.

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Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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