Factory Mutual Insurance Co. boosted its position in shares of Biogen Inc. (NASDAQ:BIIB) by 34.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 108,700 shares of the biotechnology company’s stock after buying an additional 28,000 shares during the period. Factory Mutual Insurance Co. owned 0.05% of Biogen worth $29,497,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. Farmers & Merchants Investments Inc. increased its stake in Biogen by 31.7% in the first quarter. Farmers & Merchants Investments Inc. now owns 15,671 shares of the biotechnology company’s stock worth $4,285,000 after buying an additional 3,773 shares during the last quarter. Reilly Financial Advisors LLC increased its stake in Biogen by 5.1% in the first quarter. Reilly Financial Advisors LLC now owns 1,130 shares of the biotechnology company’s stock worth $309,000 after buying an additional 55 shares during the last quarter. Howland Capital Management LLC bought a new stake in Biogen during the first quarter worth about $254,000. Washington Trust Bank increased its stake in Biogen by 14.9% in the first quarter. Washington Trust Bank now owns 1,611 shares of the biotechnology company’s stock worth $440,000 after buying an additional 209 shares during the last quarter. Finally, OLD Second National Bank of Aurora increased its stake in Biogen by 6.2% in the first quarter. OLD Second National Bank of Aurora now owns 7,853 shares of the biotechnology company’s stock worth $2,148,000 after buying an additional 457 shares during the last quarter. Hedge funds and other institutional investors own 88.70% of the company’s stock.
Biogen Inc. (NASDAQ BIIB) traded up 0.838% during trading on Friday, hitting $283.505. 405,883 shares of the company traded hands. The firm has a 50 day moving average of $281.40 and a 200 day moving average of $273.93. Biogen Inc. has a one year low of $244.28 and a one year high of $329.83. The firm has a market cap of $59.94 billion, a P/E ratio of 18.604 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 EPS for the quarter, topping the Thomson Reuters’ 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 analyst estimates of $2.81 billion. During the same quarter in the prior year, the business posted $5.21 EPS. Biogen’s quarterly revenue was up 6.4% on a year-over-year basis. On average, analysts expect that Biogen Inc. will post $21.44 earnings per share for the current fiscal year.
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A number of equities research analysts have recently issued reports on BIIB shares. ValuEngine upgraded shares of Biogen from a “hold” rating to a “buy” rating in a research report on Thursday, June 22nd. Mizuho reduced their price target on shares of Biogen from $290.00 to $274.00 and set a “neutral” rating for the company in a research report on Wednesday, May 31st. Vetr downgraded shares of Biogen from a “strong-buy” rating to a “buy” rating and set a $310.46 price target for the company. in a research report on Tuesday, April 25th. Cowen and Company reiterated an “outperform” rating and set a $271.00 price target on shares of Biogen in a research report on Monday, July 3rd. Finally, William Blair reiterated an “outperform” rating on shares of Biogen in a research report on Monday, June 26th. Eleven equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company. Biogen has an average rating of “Buy” and a consensus target price of $329.74.
In other news, Director Brian S. Posner sold 1,084 shares of the stock in a transaction on 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 approximately $1,622,442.30. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Susan H. Alexander sold 7,758 shares of the stock in a transaction on Wednesday, July 19th. The stock was sold at an average price of $285.00, for a total transaction of $2,211,030.00. Following the transaction, the executive vice president now owns 27,232 shares in the company, valued at approximately $7,761,120. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 13,816 shares of company stock worth $3,931,380. 0.32% of the stock is currently owned by company insiders.
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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