Biogen Inc. (BIIB) Shares Bought by Parametric Portfolio Associates LLC
Parametric Portfolio Associates LLC lifted its stake in Biogen Inc. (NASDAQ:BIIB) by 90.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 732,438 shares of the biotechnology company’s stock after purchasing an additional 348,537 shares during the period. Parametric Portfolio Associates LLC owned about 0.35% of Biogen worth $198,754,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of BIIB. Waldron LP grew its holdings in shares of Biogen by 17.0% in the first quarter. Waldron LP now owns 3,022 shares of the biotechnology company’s stock worth $826,000 after purchasing an additional 439 shares during the last quarter. American Assets Investment Management LLC bought a new position in shares of Biogen in the first quarter worth about $1,094,000. Carnick & Kubik Group LLC grew its holdings in shares of Biogen by 8.4% in the first quarter. Carnick & Kubik Group LLC now owns 3,962 shares of the biotechnology company’s stock worth $1,083,000 after purchasing an additional 306 shares during the last quarter. Swiss National Bank grew its holdings in shares of Biogen by 26.3% in the first quarter. Swiss National Bank now owns 770,899 shares of the biotechnology company’s stock worth $210,779,000 after purchasing an additional 160,600 shares during the last quarter. Finally, World Asset Management Inc grew its holdings in shares of Biogen by 18.1% in the first quarter. World Asset Management Inc now owns 23,642 shares of the biotechnology company’s stock worth $6,464,000 after purchasing an additional 3,622 shares during the last quarter. Hedge funds and other institutional investors own 87.65% of the company’s stock.
BIIB has been the topic of a number of research analyst reports. UBS AG upgraded shares of Biogen from a “sell” rating to a “neutral” rating and increased their target price for the stock from $262.00 to $270.00 in a report on Monday, June 19th. Vetr upgraded shares of Biogen from a “buy” rating to a “strong-buy” rating and set a $319.53 target price on the stock in a report on Thursday, August 10th. Cowen and Company reiterated a “buy” rating on shares of Biogen in a report on Thursday, July 27th. William Blair reiterated an “outperform” rating on shares of Biogen in a report on Monday, June 26th. Finally, SunTrust Banks, Inc. initiated coverage on shares of Biogen in a report on Wednesday, September 20th. They set a “buy” rating and a $360.00 target price on the stock. Fourteen investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $328.16.
In other news, EVP Susan H. Alexander sold 4,974 shares of the company’s stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $290.01, for a total transaction of $1,442,509.74. Following the completion of the sale, the executive vice president now owns 22,258 shares in the company, valued at $6,455,042.58. The transaction 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 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 value of $2,211,030.00. Following the sale, the executive vice president now owns 27,232 shares of the company’s stock, valued at approximately $7,761,120. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by insiders.
Shares of Biogen Inc. (NASDAQ:BIIB) opened at 313.12 on Friday. Biogen Inc. has a 52 week low of $244.28 and a 52 week high of $330.00. The firm has a market cap of $66.20 billion, a PE ratio of 20.55 and a beta of 0.77. The stock’s 50 day moving average is $300.47 and its 200-day moving average is $278.47.
Biogen (NASDAQ:BIIB) last issued 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 return on equity of 37.42% and a net margin of 28.10%. The company had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $2.81 billion. During the same quarter in the previous year, the business earned $5.21 earnings per share. The firm’s revenue for the quarter was up 6.4% on a year-over-year basis. On average, equities analysts predict that Biogen Inc. will post $21.51 EPS for the current fiscal year.
TRADEMARK VIOLATION NOTICE: This article was originally published by The Cerbat Gem and is owned by of The Cerbat Gem. If you are viewing this article on another domain, it was copied illegally and republished in violation of international trademark & copyright legislation. The original version of this article can be accessed at https://www.thecerbatgem.com/2017/09/30/biogen-inc-biib-shares-bought-by-parametric-portfolio-associates-llc.html.
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.