Biogen Inc. (NASDAQ:BIIB) Shares Sold by Strategic Global Advisors LLC
Strategic Global Advisors LLC lowered its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 10.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,848 shares of the biotechnology company’s stock after selling 212 shares during the period. Strategic Global Advisors LLC’s holdings in Biogen were worth $505,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently made changes to their positions in the stock. Capital Guardian Trust Co. increased its position in Biogen by 130.1% in the fourth quarter. Capital Guardian Trust Co. now owns 359 shares of the biotechnology company’s stock valued at $102,000 after buying an additional 203 shares during the period. Crestwood Advisors Group LLC acquired a new position in Biogen during the first quarter valued at approximately $106,000. Winfield Associates Inc. increased its position in Biogen by 16.8% in the first quarter. Winfield Associates Inc. now owns 467 shares of the biotechnology company’s stock valued at $128,000 after buying an additional 67 shares during the period. Focused Wealth Management Inc increased its position in Biogen by 18.8% in the fourth quarter. Focused Wealth Management Inc now owns 475 shares of the biotechnology company’s stock valued at $135,000 after buying an additional 75 shares during the period. Finally, Rational Advisors LLC increased its position in Biogen by 14.3% in the first quarter. Rational Advisors LLC now owns 593 shares of the biotechnology company’s stock valued at $162,000 after buying an additional 74 shares during the period. 88.70% of the stock is currently owned by institutional investors.
Shares of Biogen Inc. (BIIB) traded down 0.60% on Tuesday, reaching $289.26. 921,570 shares of the company’s stock traded hands. The firm has a market capitalization of $61.16 billion, a P/E ratio of 18.98 and a beta of 0.79. The company’s 50-day moving average is $278.73 and its 200-day moving average is $273.77. Biogen Inc. has a 52 week low of $244.28 and a 52 week high of $329.83.
Biogen (NASDAQ:BIIB) last released its earnings results on Tuesday, July 25th. The biotechnology company reported $5.04 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $4.36 by $0.68. The firm had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $2.81 billion. Biogen had a net margin of 28.10% and a return on equity of 37.42%. The business’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same period in the prior year, the company earned $5.21 EPS. Equities research analysts anticipate that Biogen Inc. will post $21.44 earnings per share for the current fiscal year.
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Several equities analysts have commented on the stock. BMO Capital Markets restated a “market perform” rating and issued a $328.00 price target (up previously from $317.00) on shares of Biogen in a research note on Wednesday, July 26th. Vetr downgraded shares of Biogen from a “buy” rating to a “hold” rating and set a $298.30 target price for the company. in a research note on Wednesday, July 26th. Cowen and Company reiterated a “buy” rating on shares of Biogen in a research note on Thursday, July 27th. BidaskClub upgraded shares of Biogen from a “hold” rating to a “buy” rating in a research note on Friday. Finally, Stifel Nicolaus boosted their target price on shares of Biogen from $265.00 to $280.00 and gave the stock a “hold” rating in a research note on Wednesday, April 26th. Eleven analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target 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 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 sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Susan H. Alexander sold 4,974 shares of the stock in a transaction on Tuesday, July 25th. The shares were 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 13,816 shares of company stock valued at $3,931,380. Corporate 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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