Russell Investments Group Ltd. Has $54.09 Million Position in Biogen Inc. (NASDAQ:BIIB)
Russell Investments Group Ltd. lowered its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 17.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 199,321 shares of the biotechnology company’s stock after selling 40,776 shares during the period. Russell Investments Group Ltd.’s holdings in Biogen were worth $54,087,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of the stock. Berkshire Asset Management LLC PA increased its position in shares of Biogen by 9.4% in the first quarter. Berkshire Asset Management LLC PA now owns 2,197 shares of the biotechnology company’s stock valued at $601,000 after buying an additional 189 shares during the last quarter. Wrapmanager Inc. increased its position in shares of Biogen by 7.7% in the first quarter. Wrapmanager Inc. now owns 5,525 shares of the biotechnology company’s stock valued at $1,511,000 after buying an additional 396 shares during the last quarter. Savant Capital LLC increased its position in shares of Biogen by 3.7% in the first quarter. Savant Capital LLC now owns 846 shares of the biotechnology company’s stock valued at $231,000 after buying an additional 30 shares during the last quarter. Reilly Financial Advisors LLC increased its position in shares of Biogen by 5.1% in the first quarter. Reilly Financial Advisors LLC now owns 1,130 shares of the biotechnology company’s stock valued at $309,000 after buying an additional 55 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Biogen by 2.4% in the first quarter. Vanguard Group Inc. now owns 14,352,490 shares of the biotechnology company’s stock valued at $3,924,258,000 after buying an additional 342,568 shares during the last quarter. Hedge funds and other institutional investors own 88.70% of the company’s stock.
Shares of Biogen Inc. (NASDAQ BIIB) traded up 0.96% during mid-day trading on Friday, hitting $283.85. The stock had a trading volume of 452,510 shares. The stock has a market cap of $60.01 billion, a P/E ratio of 18.63 and a beta of 0.79. Biogen Inc. has a one year low of $244.28 and a one year high of $329.83. The firm has a 50 day moving average of $281.40 and a 200-day moving average of $273.93.
Biogen (NASDAQ:BIIB) last issued its quarterly earnings data on Tuesday, July 25th. The biotechnology company reported $5.04 EPS for the quarter, beating 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 analyst estimates of $2.81 billion. During the same period last year, the company earned $5.21 earnings per share. Biogen’s quarterly revenue was up 6.4% compared to the same quarter last year. Equities research analysts expect that Biogen Inc. will post $21.44 earnings per share for the current fiscal year.
BIIB has been the subject of several analyst reports. Vetr upgraded Biogen from a “buy” rating to a “strong-buy” rating and set a $311.67 price target for the company in a report on Tuesday, June 27th. Deutsche Bank AG assumed coverage on Biogen in a report on Friday, June 23rd. They issued a “buy” rating and a $315.00 price objective for the company. Cowen and Company reiterated a “buy” rating and issued a $338.00 price objective on shares of Biogen in a report on Tuesday, April 25th. Barclays PLC reiterated an “overweight” rating and issued a $360.00 price objective (down from $380.00) on shares of Biogen in a report on Sunday, April 23rd. Finally, Credit Suisse Group set a $300.00 price objective on Biogen and gave the stock a “hold” rating in a report on Friday, July 14th. Eleven investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $329.74.
In other news, EVP Susan H. Alexander sold 7,758 shares of the firm’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 transaction, the executive vice president now owns 27,232 shares in the company, valued at $7,761,120. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Brian S. Posner sold 1,084 shares of the firm’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 transaction, the director now owns 6,330 shares in the company, valued at approximately $1,622,442.30. The disclosure for this sale can be found here. Over the last three months, insiders sold 13,816 shares of company stock worth $3,931,380. 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).
Want to see what other hedge funds are holding BIIB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Biogen Inc. (NASDAQ:BIIB).
Receive News & Ratings for Biogen Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Biogen Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.