Livforsakringsbolaget Skandia Omsesidigt Reduces Holdings in Biogen Inc (BIIB)
Livforsakringsbolaget Skandia Omsesidigt lowered its stake in Biogen Inc (NASDAQ:BIIB) by 9.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 20,387 shares of the biotechnology company’s stock after selling 2,200 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Biogen were worth $6,495,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Forbes J M & Co. LLP raised its stake in Biogen by 0.6% during the 2nd quarter. Forbes J M & Co. LLP now owns 3,121 shares of the biotechnology company’s stock valued at $846,000 after purchasing an additional 19 shares during the period. People s United Financial Inc. raised its stake in Biogen by 1.1% during the 2nd quarter. People s United Financial Inc. now owns 2,269 shares of the biotechnology company’s stock valued at $616,000 after purchasing an additional 25 shares during the period. Linscomb & Williams Inc. raised its stake in Biogen by 2.5% during the 2nd quarter. Linscomb & Williams Inc. now owns 1,204 shares of the biotechnology company’s stock valued at $327,000 after purchasing an additional 29 shares during the period. YorkBridge Wealth Partners LLC raised its stake in Biogen by 1.2% during the 2nd quarter. YorkBridge Wealth Partners LLC now owns 2,995 shares of the biotechnology company’s stock valued at $816,000 after purchasing an additional 36 shares during the period. Finally, MML Investors Services LLC raised its stake in Biogen by 1.1% during the 2nd quarter. MML Investors Services LLC now owns 3,780 shares of the biotechnology company’s stock valued at $1,026,000 after purchasing an additional 41 shares during the period. 88.14% of the stock is currently owned by institutional investors.
Several analysts have issued reports on BIIB shares. Citigroup downgraded shares of Biogen from a “buy” rating to a “neutral” rating in a research note on Monday, October 23rd. Mizuho set a $400.00 target price on shares of Biogen and gave the company a “buy” rating in a research note on Monday, November 13th. Credit Suisse Group raised shares of Biogen from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $321.00 to $385.00 in a research note on Wednesday, December 20th. Stifel Nicolaus reissued a “hold” rating and set a $300.00 target price on shares of Biogen in a research note on Thursday, October 12th. Finally, Oppenheimer set a $350.00 target price on shares of Biogen and gave the company a “buy” rating in a research note on Monday, December 4th. Nine investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the stock. Biogen currently has an average rating of “Buy” and an average price target of $353.75.
In related news, Director Robert W. Pangia sold 5,832 shares of the company’s stock in a transaction on Tuesday, January 9th. The shares were sold at an average price of $329.65, for a total value of $1,922,518.80. Following the completion of the sale, the director now directly owns 23,539 shares in the company, valued at $7,759,631.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michel Vounatsos acquired 780 shares of the firm’s stock in a transaction that occurred on Friday, December 29th. The stock was acquired at an average price of $320.55 per share, with a total value of $250,029.00. The disclosure for this purchase can be found here. Insiders purchased 31,560 shares of company stock valued at $10,020,858 over the last quarter. 0.25% of the stock is currently owned by corporate insiders.
Shares of Biogen Inc (NASDAQ:BIIB) opened at $344.87 on Thursday. The stock has a market cap of $72,930.00, a price-to-earnings ratio of 21.14, a P/E/G ratio of 1.92 and a beta of 0.73. Biogen Inc has a fifty-two week low of $244.28 and a fifty-two week high of $348.84. The company has a quick ratio of 1.90, a current ratio of 2.19 and a debt-to-equity ratio of 0.46.
Biogen (NASDAQ:BIIB) last issued its quarterly earnings data on Tuesday, October 24th. The biotechnology company reported $6.31 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $5.70 by $0.61. The firm had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $3.05 billion. Biogen had a net margin of 29.44% and a return on equity of 38.51%. Biogen’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same period in the prior year, the company posted $5.19 earnings per share. analysts anticipate that Biogen Inc will post 21.99 EPS for the current fiscal year.
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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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