Xact Kapitalforvaltning AB cut its position in Biogen Inc. (NASDAQ:BIIB) by 0.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,277 shares of the biotechnology company’s stock after selling 235 shares during the period. Xact Kapitalforvaltning AB’s holdings in Biogen were worth $10,930,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Dillon & Associates Inc. raised its stake in shares of Biogen by 0.3% in the first quarter. Dillon & Associates Inc. now owns 1,785 shares of the biotechnology company’s stock worth $487,000 after buying an additional 5 shares during the last quarter. Beacon Trust Co. increased its position in Biogen by 0.5% in the first quarter. Beacon Trust Co. now owns 1,135 shares of the biotechnology company’s stock valued at $328,000 after buying an additional 6 shares during the period. Guardian Life Insurance Co. of America increased its position in Biogen by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 839 shares of the biotechnology company’s stock valued at $229,000 after buying an additional 6 shares during the period. Trust Co. of Vermont increased its position in Biogen by 0.3% in the first quarter. Trust Co. of Vermont now owns 2,412 shares of the biotechnology company’s stock valued at $660,000 after buying an additional 7 shares during the period. Finally, Buckingham Capital Management Inc. increased its position in Biogen by 0.3% in the first quarter. Buckingham Capital Management Inc. now owns 2,452 shares of the biotechnology company’s stock valued at $670,000 after buying an additional 8 shares during the period. 88.70% of the stock is currently owned by institutional investors and hedge funds.
Shares of Biogen Inc. (BIIB) traded up 0.838% during midday trading on Friday, reaching $283.505. 405,883 shares of the company’s stock traded hands. Biogen Inc. has a 52-week low of $244.28 and a 52-week high of $329.83. The stock has a 50 day moving average of $281.40 and a 200-day moving average of $273.93. The stock has a market cap of $59.94 billion, a price-to-earnings ratio of 18.604 and a beta of 0.79.
Biogen (NASDAQ:BIIB) last released its quarterly earnings results on Tuesday, July 25th. The biotechnology company reported $5.04 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $4.36 by $0.68. The company had revenue of $3.08 billion for the quarter, compared to analysts’ expectations of $2.81 billion. Biogen had a return on equity of 37.42% and a net margin of 28.10%. The business’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same period in the previous year, the business posted $5.21 earnings per share. On average, equities research analysts expect that Biogen Inc. will post $21.44 EPS for the current year.
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BIIB has been the subject of several research reports. Robert W. Baird restated a “neutral” rating and issued a $290.00 price target on shares of Biogen in a research note on Tuesday, April 18th. Mizuho reissued a “hold” rating and issued a $290.00 price target on shares of Biogen in a research report on Tuesday, April 18th. Barclays PLC reissued an “overweight” rating and issued a $360.00 price target (down from $380.00) on shares of Biogen in a research report on Sunday, April 23rd. Sanford C. Bernstein reissued an “outperform” rating and issued a $310.00 price target on shares of Biogen in a research report on Tuesday, April 25th. Finally, Cantor Fitzgerald set a $278.00 target price on shares of Biogen and gave the company a “hold” rating in a report on Tuesday, April 25th. Eleven research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $329.74.
In other news, EVP Susan H. Alexander sold 7,758 shares of the company’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 transaction 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 $7,761,120. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Brian S. Posner sold 1,084 shares of the company’s stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $256.31, for a total value of $277,840.04. Following the transaction, the director now directly owns 6,330 shares in the company, valued at $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. Insiders own 0.32% of the company’s stock.
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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