Voya Investment Management LLC reduced its stake in Biogen Inc. (NASDAQ:BIIB) by 0.9% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 846,152 shares of the biotechnology company’s stock after selling 7,844 shares during the quarter. Voya Investment Management LLC owned approximately 0.40% of Biogen worth $229,612,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Ontario Teachers Pension Plan Board grew its stake in Biogen by 82.1% in the 2nd quarter. Ontario Teachers Pension Plan Board now owns 9,648 shares of the biotechnology company’s stock valued at $2,618,000 after buying an additional 4,350 shares during the last quarter. Bancorpsouth Inc. lifted its position in Biogen by 8.8% during the 2nd quarter. Bancorpsouth Inc. now owns 1,950 shares of the biotechnology company’s stock worth $529,000 after acquiring an additional 157 shares during the last quarter. Global Endowment Management LP lifted its position in Biogen by 11.6% during the 2nd quarter. Global Endowment Management LP now owns 13,480 shares of the biotechnology company’s stock worth $3,658,000 after acquiring an additional 1,400 shares during the last quarter. Parametric Portfolio Associates LLC lifted its position in Biogen by 90.8% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 732,438 shares of the biotechnology company’s stock worth $198,754,000 after acquiring an additional 348,537 shares during the last quarter. Finally, Roundview Capital LLC acquired a new position in Biogen during the 2nd quarter worth $353,000. Hedge funds and other institutional investors own 87.65% of the company’s stock.

BIIB has been the subject of a number of recent analyst reports. Vetr cut shares of Biogen from a “strong-buy” rating to a “buy” rating and set a $319.53 price target for the company. in a report on Tuesday, August 29th. ValuEngine upgraded Biogen from a “hold” rating to a “buy” rating in a research note on Thursday, June 22nd. Cowen and Company reissued an “outperform” rating and set a $271.00 price objective on shares of Biogen in a research report on Monday, July 3rd. William Blair reissued an “outperform” rating on shares of Biogen in a research report on Monday, June 26th. Finally, Jefferies Group LLC restated a “hold” rating and set a $310.00 target price on shares of Biogen in a research note on Tuesday, July 11th. Fourteen analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $328.16.

In other news, EVP Susan H. Alexander sold 4,974 shares of the business’s stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $290.01, for a total transaction of $1,442,509.74. Following the completion of the transaction, the executive vice president now owns 22,258 shares of the company’s stock, valued at approximately $6,455,042.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Susan H. Alexander sold 7,758 shares of the business’s stock in a transaction 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 directly owns 27,232 shares of the company’s stock, valued at approximately $7,761,120. The disclosure for this sale can be found here. Company insiders own 0.25% of the company’s stock.

Biogen Inc. (NASDAQ:BIIB) opened at 313.12 on Monday. The firm has a 50 day moving average of $300.47 and a 200-day moving average of $278.47. The company has a market capitalization of $66.20 billion, a P/E ratio of 20.55 and a beta of 0.77. Biogen Inc. has a 52 week low of $244.28 and a 52 week high of $330.00.

Biogen (NASDAQ:BIIB) last announced 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 net margin of 28.10% and a return on equity of 37.42%. The business had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $2.81 billion. During the same period in the previous year, the business earned $5.21 earnings per share. The company’s revenue was up 6.4% on a year-over-year basis. On average, analysts forecast that Biogen Inc. will post $21.51 earnings per share for the current year.

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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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Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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