Biogen Inc. (BIIB) Shares Bought by Sequoia Financial Advisors LLC
Sequoia Financial Advisors LLC grew its stake in Biogen Inc. (NASDAQ:BIIB) by 10.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,544 shares of the biotechnology company’s stock after purchasing an additional 1,233 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Biogen were worth $3,404,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. Pathstone Family Office LLC bought a new position in shares of Biogen in the first quarter valued at about $102,000. Prentiss Smith & Co. Inc. raised its position in shares of Biogen by 14.9% in the second quarter. Prentiss Smith & Co. Inc. now owns 385 shares of the biotechnology company’s stock valued at $104,000 after purchasing an additional 50 shares during the period. Independent Portfolio Consultants Inc. raised its position in shares of Biogen by 93.2% in the second quarter. Independent Portfolio Consultants Inc. now owns 454 shares of the biotechnology company’s stock valued at $123,000 after purchasing an additional 219 shares during the period. Winfield Associates Inc. raised its position in shares of 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 purchasing an additional 67 shares during the period. Finally, Carroll Financial Associates Inc. raised its position in shares of Biogen by 1.2% in the second quarter. Carroll Financial Associates Inc. now owns 496 shares of the biotechnology company’s stock valued at $134,000 after purchasing an additional 6 shares during the period. 87.26% of the stock is currently owned by institutional investors.
In related news, EVP Susan H. Alexander sold 4,974 shares of the company’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 22,258 shares in the company, valued at $6,455,042.58. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, 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 completion of the transaction, 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 corporate insiders.
Shares of Biogen Inc. (NASDAQ:BIIB) opened at 324.05 on Thursday. The firm has a market capitalization of $68.51 billion, a P/E ratio of 21.26 and a beta of 0.77. Biogen Inc. has a 52-week low of $244.28 and a 52-week high of $330.00. The company’s 50-day moving average is $295.86 and its 200 day moving average is $277.45.
Biogen (NASDAQ:BIIB) last posted its quarterly earnings data 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 net margin of 28.10% and a return on equity of 37.42%. Biogen’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period in the prior year, the business earned $5.21 earnings per share. Analysts expect that Biogen Inc. will post $21.44 EPS for the current fiscal year.
Several equities analysts have recently weighed in on BIIB shares. Deutsche Bank AG started coverage on shares of Biogen in a research report on Friday, June 23rd. They issued a “buy” rating and a $315.00 price objective on the stock. ValuEngine raised shares of Biogen from a “hold” rating to a “buy” rating in a research report on Thursday, June 22nd. Vetr lowered shares of Biogen from a “strong-buy” rating to a “buy” rating and set a $311.67 price target on the stock. in a research report on Wednesday, June 21st. Goldman Sachs Group, Inc. (The) raised shares of Biogen from a “neutral” rating to a “buy” rating and raised their price target for the stock from $228.00 to $338.00 in a research report on Wednesday, July 26th. Finally, Cowen and Company reaffirmed a “buy” rating on shares of Biogen in a research report on Thursday, July 27th. Twelve investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $333.87.
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).
Want to see what other hedge funds are holding BIIB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Biogen Inc. (NASDAQ:BIIB).
Receive News & Stock Ratings for Biogen Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Biogen Inc. and related stocks with our FREE daily email newsletter.