ING Groep NV Sells 2,983 Shares of Biogen Inc (BIIB)

ING Groep NV reduced its position in Biogen Inc (NASDAQ:BIIB) by 5.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 54,894 shares of the biotechnology company’s stock after selling 2,983 shares during the period. ING Groep NV’s holdings in Biogen were worth $17,488,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of BIIB. Atlantic Trust LLC bought a new position in shares of Biogen in the 2nd quarter worth $114,000. Harel Insurance Investments & Financial Services Ltd. lifted its holdings in shares of Biogen by 77.0% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 400 shares of the biotechnology company’s stock worth $127,000 after purchasing an additional 174 shares in the last quarter. Horan Capital Advisors LLC. bought a new position in shares of Biogen in the 3rd quarter worth $128,000. Massey Quick Simon & CO. LLC lifted its holdings in shares of Biogen by 84.8% in the 3rd quarter. Massey Quick Simon & CO. LLC now owns 425 shares of the biotechnology company’s stock worth $133,000 after purchasing an additional 195 shares in the last quarter. Finally, Gs Investments Inc. bought a new position in shares of Biogen in the 2nd quarter worth $136,000. Institutional investors own 88.11% of the company’s stock.

In other Biogen news, Director Alexander J. Denner bought 30,000 shares of the firm’s stock in a transaction dated Wednesday, November 29th. The stock was purchased at an average cost of $317.36 per share, with a total value of $9,520,800.00. Following the transaction, the director now directly owns 10,029 shares in the company, valued at approximately $3,182,803.44. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Michel Vounatsos bought 780 shares of the firm’s stock in a transaction dated Saturday, December 29th. The shares were acquired at an average cost of $320.55 per share, with a total value of $250,029.00. Following the completion of the transaction, the chief executive officer now owns 4,879 shares in the company, valued at $1,563,963.45. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 31,560 shares of company stock valued at $10,020,858. Insiders own 0.25% of the company’s stock.

Several equities analysts have weighed in on BIIB shares. Deutsche Bank restated a “buy” rating and set a $373.00 price objective on shares of Biogen in a research note on Friday, January 26th. Oppenheimer raised their price objective on Biogen from $380.00 to $400.00 and gave the company a “buy” rating in a research note on Friday, January 26th. Jefferies Group restated a “hold” rating on shares of Biogen in a research note on Friday, January 26th. BMO Capital Markets restated a “buy” rating on shares of Biogen in a research note on Thursday, January 25th. Finally, Cowen restated a “buy” rating and set a $408.00 price objective on shares of Biogen in a research note on Friday, January 26th. Eight investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $369.03.

Shares of Biogen Inc (NASDAQ BIIB) opened at $326.89 on Thursday. Biogen Inc has a 12-month low of $244.28 and a 12-month high of $370.57. The stock has a market capitalization of $70,420.76, a price-to-earnings ratio of 27.42, a PEG ratio of 1.73 and a beta of 0.75. The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.07 and a current ratio of 2.34.

Biogen (NASDAQ:BIIB) last announced its earnings results on Thursday, January 25th. The biotechnology company reported $5.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.44 by ($0.18). Biogen had a net margin of 20.69% and a return on equity of 38.32%. The business had revenue of $3.31 billion for the quarter, compared to analysts’ expectations of $3.08 billion. During the same period in the prior year, the business earned $5.04 earnings per share. The company’s revenue for the quarter was up 15.1% compared to the same quarter last year. sell-side analysts predict that Biogen Inc will post 24.88 earnings per share for the current year.

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Biogen 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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