Point View Wealth Management Inc. decreased its position in Biogen Inc (NASDAQ:BIIB) by 7.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,300 shares of the biotechnology company’s stock after selling 104 shares during the period. Point View Wealth Management Inc.’s holdings in Biogen were worth $386,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Kistler Tiffany Companies LLC grew its stake in shares of Biogen by 41.7% during the 4th quarter. Kistler Tiffany Companies LLC now owns 119 shares of the biotechnology company’s stock worth $35,000 after purchasing an additional 35 shares during the period. CAPROCK Group Inc. lifted its stake in shares of Biogen by 0.8% in the 4th quarter. CAPROCK Group Inc. now owns 4,560 shares of the biotechnology company’s stock valued at $1,353,000 after purchasing an additional 36 shares during the period. Institutional & Family Asset Management LLC boosted its holdings in Biogen by 7.3% during the third quarter. Institutional & Family Asset Management LLC now owns 543 shares of the biotechnology company’s stock worth $126,000 after buying an additional 37 shares in the last quarter. Trust Co. of Vermont boosted its holdings in Biogen by 1.4% during the fourth quarter. Trust Co. of Vermont now owns 2,669 shares of the biotechnology company’s stock worth $792,000 after buying an additional 37 shares in the last quarter. Finally, Ballentine Partners LLC boosted its holdings in Biogen by 2.4% during the third quarter. Ballentine Partners LLC now owns 2,013 shares of the biotechnology company’s stock worth $468,000 after buying an additional 48 shares in the last quarter. 86.95% of the stock is owned by institutional investors.

BIIB has been the subject of a number of recent analyst reports. Oppenheimer lifted their price objective on shares of Biogen from to in a report on Friday, February 7th. Robert W. Baird increased their target price on shares of Biogen from $250.00 to $290.00 and gave the stock an “underperform” rating in a research note on Wednesday, February 5th. BMO Capital Markets reissued a “market perform” rating and set a $317.00 target price on shares of Biogen in a research note on Thursday, February 6th. Credit Suisse Group raised their target price on Biogen from $300.00 to $330.00 and gave the company a “neutral” rating in a research report on Thursday, February 6th. Finally, Sanford C. Bernstein upgraded Biogen from a “market perform” rating to an “outperform” rating in a research note on Tuesday, October 29th. Five investment analysts have rated the stock with a sell rating, twenty have issued a hold rating and eleven have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $316.69.

In related news, Director Brian S. Posner sold 1,055 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $292.35, for a total value of $308,429.25. Following the completion of the transaction, the director now directly owns 6,995 shares of the company’s stock, valued at approximately $2,044,988.25. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.39% of the stock is currently owned by insiders.

NASDAQ:BIIB traded down $1.25 during trading hours on Friday, hitting $333.00. 981,513 shares of the stock were exchanged, compared to its average volume of 1,896,997. Biogen Inc has a 52-week low of $215.77 and a 52-week high of $374.99. The firm’s fifty day moving average price is $296.66 and its 200 day moving average price is $267.35. The company has a current ratio of 1.72, a quick ratio of 1.56 and a debt-to-equity ratio of 0.37. The company has a market cap of $59.00 billion, a P/E ratio of 10.58, a P/E/G ratio of 1.13 and a beta of 1.21.

Biogen (NASDAQ:BIIB) last released its earnings results on Thursday, January 30th. The biotechnology company reported $8.34 earnings per share for the quarter, beating the consensus estimate of $8.02 by $0.32. The business had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.51 billion. Biogen had a return on equity of 46.51% and a net margin of 40.96%. The business’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same quarter last year, the business posted $6.99 earnings per share. Equities analysts expect that Biogen Inc will post 32.54 EPS for the current fiscal year.

Biogen declared that its Board of Directors has authorized a stock buyback program on Saturday, December 21st that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the biotechnology company to purchase shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.

About Biogen

Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases worldwide. The company offers TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for the treatment of multiple sclerosis (MS); SPINRAZA for the treatment of spinal muscular atrophy; and FUMADERM for the treatment of plaque psoriasis.

Further Reading: Treasury Bonds

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Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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