Principal Financial Group Inc. boosted its position in Biogen Inc. (NASDAQ:BIIB) by 11.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 414,821 shares of the biotechnology company’s stock after purchasing an additional 44,154 shares during the period. Principal Financial Group Inc. owned approximately 0.20% of Biogen worth $112,566,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Pathstone Family Office LLC bought a new stake in Biogen in the first quarter worth about $102,000. Prentiss Smith & Co. Inc. lifted its stake in Biogen by 14.9% in the second quarter. Prentiss Smith & Co. Inc. now owns 385 shares of the biotechnology company’s stock worth $104,000 after purchasing an additional 50 shares during the last quarter. Independent Portfolio Consultants Inc. lifted its stake in Biogen by 93.2% in the second quarter. Independent Portfolio Consultants Inc. now owns 454 shares of the biotechnology company’s stock worth $123,000 after purchasing an additional 219 shares during the last quarter. Winfield Associates Inc. lifted its stake in Biogen by 16.8% in the first quarter. Winfield Associates Inc. now owns 467 shares of the biotechnology company’s stock worth $128,000 after purchasing an additional 67 shares during the last quarter. Finally, Carroll Financial Associates Inc. lifted its stake in Biogen by 1.2% in the second quarter. Carroll Financial Associates Inc. now owns 496 shares of the biotechnology company’s stock worth $134,000 after purchasing an additional 6 shares during the last quarter. 87.26% of the stock is owned by institutional investors and hedge funds.

Several analysts have issued reports on the stock. UBS AG raised shares of Biogen from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $262.00 to $270.00 in a research note on Monday, June 19th. Morgan Stanley reissued an “equal weight” rating and issued a $307.00 price objective on shares of Biogen in a research note on Wednesday, June 14th. Leerink Swann reissued a “market perform” rating and issued a $338.00 price objective (up previously from $304.00) 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 price objective for the company. in a research note on Wednesday, July 26th. Finally, Goldman Sachs Group, Inc. (The) raised shares of Biogen from a “buy” rating to a “conviction-buy” rating and set a $338.00 price objective for the company in a research note on Wednesday, August 16th. Twelve analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $329.95.

Biogen Inc. (BIIB) opened at 326.54 on Tuesday. The firm has a 50-day moving average of $293.63 and a 200 day moving average of $276.83. Biogen Inc. has a 12-month low of $244.28 and a 12-month high of $329.95. The stock has a market capitalization of $69.04 billion, a price-to-earnings ratio of 21.43 and a beta of 0.77.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Tuesday, July 25th. The biotechnology company reported $5.04 earnings per share for the quarter, beating the Zacks’ 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 for the quarter, compared to analyst estimates of $2.81 billion. During the same period last year, the business earned $5.21 EPS. The company’s revenue was up 6.4% on a year-over-year basis. On average, analysts predict that Biogen Inc. will post $21.44 earnings per share for the current fiscal year.

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In other news, EVP Susan H. Alexander sold 4,974 shares of the firm’s stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $290.01, for a total value of $1,442,509.74. Following the sale, the executive vice president now directly owns 22,258 shares in the company, valued at approximately $6,455,042.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Susan H. Alexander sold 7,758 shares of the firm’s stock in a transaction on Wednesday, July 19th. The shares were sold at an average price of $285.00, for a total transaction of $2,211,030.00. Following the completion of the sale, the executive vice president now owns 27,232 shares in the company, valued at $7,761,120. The disclosure for this sale can be found here. 0.32% of the stock is currently owned by company insiders.

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).

Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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