Biogen Inc (BIIB) Shares Sold by Strs Ohio
Strs Ohio reduced its stake in shares of Biogen Inc (NASDAQ:BIIB) by 6.2% in the fourth quarter, Holdings Channel reports. The fund owned 277,132 shares of the biotechnology company’s stock after selling 18,436 shares during the quarter. Strs Ohio’s holdings in Biogen were worth $88,285,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Beech Hill Advisors Inc. raised its position in Biogen by 35.2% in the 4th quarter. Beech Hill Advisors Inc. now owns 1,987 shares of the biotechnology company’s stock worth $633,000 after purchasing an additional 517 shares during the period. Bowling Portfolio Management LLC purchased a new position in Biogen in the 4th quarter worth $5,523,000. Augustine Asset Management Inc. purchased a new position in Biogen in the 4th quarter worth $3,017,000. First Manhattan Co. raised its position in Biogen by 56.9% in the 4th quarter. First Manhattan Co. now owns 1,130 shares of the biotechnology company’s stock worth $359,000 after purchasing an additional 410 shares during the period. Finally, Steward Partners Investment Advisory LLC raised its position in Biogen by 64.3% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,161 shares of the biotechnology company’s stock worth $1,325,000 after purchasing an additional 1,629 shares during the period. 88.18% of the stock is owned by institutional investors.
In other Biogen news, CEO Michel Vounatsos acquired 780 shares of the company’s stock in a transaction that occurred on Saturday, December 29th. The shares were acquired at an average price of $320.55 per share, with a total value of $250,029.00. Following the completion of the purchase, the chief executive officer now directly owns 4,879 shares of the company’s stock, valued at approximately $1,563,963.45. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Alexander J. Denner acquired 30,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 29th. The shares were acquired at an average cost of $317.36 per share, for a total transaction of $9,520,800.00. Following the purchase, the director now directly owns 10,029 shares of the company’s stock, valued at $3,182,803.44. The disclosure for this purchase can be found here. Insiders have purchased 31,560 shares of company stock worth $10,020,858 in the last three months. 0.25% of the stock is currently owned by insiders.
Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Tuesday, October 24th. The biotechnology company reported $6.31 EPS for the quarter, topping the consensus estimate of $5.70 by $0.61. Biogen had a net margin of 29.44% and a return on equity of 38.51%. The business had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.05 billion. During the same quarter in the previous year, the firm posted $5.19 earnings per share. Biogen’s quarterly revenue was up 4.1% on a year-over-year basis. analysts anticipate that Biogen Inc will post 22 earnings per share for the current year.
A number of research firms have issued reports on BIIB. Guggenheim began coverage on shares of Biogen in a research report on Monday, October 23rd. They issued a “buy” rating and a $402.00 price objective on the stock. Bank of America boosted their price objective on shares of Biogen from $358.00 to $365.00 and gave the company a “buy” rating in a research report on Wednesday, October 18th. Morgan Stanley restated a “buy” rating on shares of Biogen in a research report on Tuesday, October 17th. Mizuho upgraded shares of Biogen from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $319.00 to $400.00 in a research report on Tuesday, October 17th. Finally, Stifel Nicolaus upgraded shares of Biogen from a “hold” rating to a “buy” rating and boosted their price objective for the company from $300.00 to $415.00 in a research report on Tuesday, October 17th. Nine research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $354.96.
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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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