Cambiar Investors LLC Has $64.04 Million Stake in Biogen Inc. (BIIB)
Cambiar Investors LLC lessened its position in Biogen Inc. (NASDAQ:BIIB) by 14.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 204,509 shares of the biotechnology company’s stock after selling 35,719 shares during the quarter. Biogen accounts for 1.0% of Cambiar Investors LLC’s portfolio, making the stock its 21st largest position. Cambiar Investors LLC owned about 0.10% of Biogen worth $64,036,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in the company. Cypress Asset Management Inc. TX increased its stake in Biogen by 15.0% in the 1st quarter. Cypress Asset Management Inc. TX now owns 3,072 shares of the biotechnology company’s stock worth $840,000 after buying an additional 400 shares during the period. Sentry Investment Management LLC increased its position in Biogen by 1.4% during the 1st quarter. Sentry Investment Management LLC now owns 27,037 shares of the biotechnology company’s stock valued at $7,392,000 after purchasing an additional 377 shares during the period. Ngam Advisors L.P. increased its position in Biogen by 7.5% during the 1st quarter. Ngam Advisors L.P. now owns 58,812 shares of the biotechnology company’s stock valued at $16,080,000 after purchasing an additional 4,078 shares during the period. Leucadia National Corp purchased a new position in Biogen during the 1st quarter valued at about $469,000. Finally, Pictet & Cie Europe SA increased its position in Biogen by 21.1% during the 1st quarter. Pictet & Cie Europe SA now owns 2,499 shares of the biotechnology company’s stock valued at $683,000 after purchasing an additional 436 shares during the period. Hedge funds and other institutional investors own 88.35% of the company’s stock.
Biogen Inc. (BIIB) traded up $0.48 during mid-day trading on Monday, hitting $310.44. 820,700 shares of the company were exchanged, compared to its average volume of 1,519,722. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.19 and a quick ratio of 1.90. Biogen Inc. has a 12-month low of $244.28 and a 12-month high of $348.84. The stock has a market capitalization of $65,850.00, a price-to-earnings ratio of 14.38, a price-to-earnings-growth ratio of 1.94 and a beta of 0.72.
Biogen (NASDAQ:BIIB) last announced its quarterly earnings results on Tuesday, October 24th. The biotechnology company reported $6.31 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $5.70 by $0.61. The company had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.05 billion. Biogen had a net margin of 29.44% and a return on equity of 38.51%. The firm’s revenue was up 4.1% on a year-over-year basis. During the same period in the prior year, the firm posted $5.19 earnings per share. sell-side analysts forecast that Biogen Inc. will post 22.03 earnings per share for the current fiscal year.
A number of research analysts have commented on BIIB shares. Citigroup Inc. downgraded shares of Biogen from a “buy” rating to a “neutral” rating in a research report on Monday, October 23rd. Vetr downgraded shares of Biogen from a “strong-buy” rating to a “buy” rating and set a $319.53 target price on the stock. in a research report on Wednesday, August 23rd. Stifel Nicolaus reaffirmed a “hold” rating and issued a $300.00 price objective on shares of Biogen in a research report on Thursday, October 12th. Robert W. Baird reaffirmed a “hold” rating and issued a $290.00 price objective on shares of Biogen in a research report on Friday, August 25th. Finally, Morgan Stanley reaffirmed a “buy” rating on shares of Biogen in a research report on Tuesday, October 17th. Twelve equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $341.89.
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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