Sentry Investment Management LLC Reduces Stake in Biogen Inc. (NASDAQ:BIIB)

Sentry Investment Management LLC cut its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 9.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 758 shares of the biotechnology company’s stock after selling 81 shares during the period. Sentry Investment Management LLC’s holdings in Biogen were worth $196,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Altshuler Shaham Ltd purchased a new position in Biogen during the fourth quarter valued at $25,000. OFI Invest Asset Management purchased a new position in Biogen during the third quarter valued at $26,000. Gladius Capital Management LP purchased a new position in Biogen during the third quarter valued at $28,000. KB Financial Partners LLC lifted its position in Biogen by 105.1% during the third quarter. KB Financial Partners LLC now owns 121 shares of the biotechnology company’s stock valued at $31,000 after purchasing an additional 62 shares in the last quarter. Finally, CVA Family Office LLC purchased a new position in shares of Biogen in the fourth quarter valued at about $36,000. 87.93% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. StockNews.com downgraded Biogen from a “buy” rating to a “hold” rating in a research report on Tuesday, February 20th. Bank Of America (Bofa) lowered their price objective on Biogen from $290.00 to $280.00 and set a “neutral” rating on the stock in a research report on Monday, February 12th. HC Wainwright restated a “buy” rating and issued a $325.00 price objective on shares of Biogen in a research report on Wednesday, February 14th. Robert W. Baird lowered their price objective on Biogen from $333.00 to $316.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 14th. Finally, Wedbush boosted their price objective on Biogen from $239.00 to $245.00 and gave the company a “neutral” rating in a research report on Monday, February 12th. Ten investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $298.96.

Insider Transactions at Biogen

In other Biogen news, Director Eric K. Rowinsky purchased 455 shares of Biogen stock in a transaction dated Thursday, February 15th. The shares were purchased at an average cost of $222.54 per share, for a total transaction of $101,255.70. Following the completion of the acquisition, the director now owns 20,629 shares in the company, valued at approximately $4,590,777.66. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Biogen news, Director Eric K. Rowinsky purchased 455 shares of Biogen stock in a transaction dated Thursday, February 15th. The shares were purchased at an average cost of $222.54 per share, for a total transaction of $101,255.70. Following the completion of the acquisition, the director now owns 20,629 shares in the company, valued at approximately $4,590,777.66. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Priya Singhal sold 262 shares of the stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $221.23, for a total value of $57,962.26. Following the completion of the sale, the insider now owns 4,886 shares in the company, valued at $1,080,929.78. The disclosure for this sale can be found here. Over the last three months, insiders have sold 882 shares of company stock worth $202,030. 0.60% of the stock is currently owned by company insiders.

Biogen Trading Down 0.8 %

Shares of BIIB stock opened at $195.15 on Wednesday. Biogen Inc. has a 1 year low of $194.94 and a 1 year high of $319.76. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.00 and a quick ratio of 1.26. The stock’s 50 day simple moving average is $218.13 and its two-hundred day simple moving average is $236.87. The company has a market cap of $28.37 billion, a PE ratio of 24.45, a price-to-earnings-growth ratio of 1.87 and a beta of -0.02.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings data on Tuesday, February 13th. The biotechnology company reported $2.95 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.18 by ($0.23). Biogen had a net margin of 11.81% and a return on equity of 14.91%. The company had revenue of $2.39 billion for the quarter, compared to analysts’ expectations of $2.47 billion. During the same quarter last year, the company earned $4.05 earnings per share. Research analysts predict that Biogen Inc. will post 15.48 earnings per share for the current year.

Biogen Profile

Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases in the United States, Europe, Germany, Asia, and internationally. The company provides TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for multiple sclerosis (MS); SPINRAZA for spinal muscular atrophy; ADUHELM to treat Alzheimer's disease; FUMADERM to treat plaque psoriasis; BENEPALI, an etanercept biosimilar referencing ENBREL; IMRALDI, an adalimumab biosimilar referencing HUMIRA; FLIXABI, an infliximab biosimilar referencing REMICADE; and BYOOVIZ, a ranibizumab biosimilar referencing LUCENTIS.