Crossmark Global Holdings Inc. trimmed its holdings in Biogen Inc (NASDAQ:BIIB) by 16.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,836 shares of the biotechnology company’s stock after selling 2,307 shares during the period. Crossmark Global Holdings Inc.’s holdings in Biogen were worth $3,512,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in the stock. Oppenheimer Asset Management Inc. boosted its holdings in Biogen by 9.7% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 30,550 shares of the biotechnology company’s stock valued at $7,113,000 after purchasing an additional 2,693 shares during the period. Pictet Asset Management Ltd. boosted its holdings in Biogen by 16.9% in the 3rd quarter. Pictet Asset Management Ltd. now owns 756,103 shares of the biotechnology company’s stock valued at $176,036,000 after purchasing an additional 109,336 shares during the period. Institutional & Family Asset Management LLC boosted its holdings in Biogen by 7.3% in the 3rd quarter. Institutional & Family Asset Management LLC now owns 543 shares of the biotechnology company’s stock valued at $126,000 after purchasing an additional 37 shares during the period. Unigestion Holding SA boosted its holdings in Biogen by 38.4% in the 3rd quarter. Unigestion Holding SA now owns 5,479 shares of the biotechnology company’s stock valued at $1,276,000 after purchasing an additional 1,519 shares during the period. Finally, Broadleaf Partners LLC bought a new position in Biogen in the 3rd quarter valued at $3,893,000. Institutional investors and hedge funds own 86.95% of the company’s stock.
NASDAQ BIIB opened at $333.00 on Friday. Biogen Inc has a 52-week low of $215.77 and a 52-week high of $374.99. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.56 and a current ratio of 1.72. The company has a market capitalization of $58.18 billion, a P/E ratio of 9.94, a P/E/G ratio of 1.25 and a beta of 1.21. The company has a fifty day moving average of $296.66 and a 200-day moving average of $267.35.
Biogen (NASDAQ:BIIB) last posted its quarterly earnings results on Thursday, January 30th. The biotechnology company reported $8.34 earnings per share for the quarter, topping the consensus estimate of $8.02 by $0.32. The business had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.51 billion. Biogen had a net margin of 40.96% and a return on equity of 46.51%. The firm’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same period in the previous year, the firm posted $6.99 earnings per share. As a group, analysts forecast that Biogen Inc will post 32.56 EPS for the current fiscal year.
Biogen announced that its board has authorized a stock repurchase program on Saturday, December 21st that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the biotechnology company to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.
Several research analysts have commented on BIIB shares. Leerink Swann raised their price target on shares of Biogen from $350.00 to $410.00 and gave the company a “positive” rating in a report on Thursday, February 6th. Raymond James reissued a “hold” rating on shares of Biogen in a report on Friday, December 6th. Cowen reissued a “buy” rating and issued a $325.00 price target on shares of Biogen in a report on Thursday, January 2nd. BidaskClub raised shares of Biogen from a “strong sell” rating to a “sell” rating in a report on Tuesday. Finally, Wedbush reissued a “neutral” rating on shares of Biogen in a report on Thursday, January 30th. Five equities research analysts have rated the stock with a sell rating, twenty have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. Biogen presently has an average rating of “Hold” and an average price target of $316.69.
In other Biogen news, Director Brian S. Posner sold 1,055 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $292.35, for a total value of $308,429.25. Following the completion of the sale, the director now directly owns 6,995 shares of the company’s stock, valued at $2,044,988.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.39% of the company’s stock.
Biogen Company Profile
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.
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