Advisor Partners LLC boosted its holdings in shares of Biogen Inc (NASDAQ:BIIB) by 7.7% during the 4th quarter, Holdings Channel.com reports. The fund owned 6,642 shares of the biotechnology company’s stock after purchasing an additional 474 shares during the period. Advisor Partners LLC’s holdings in Biogen were worth $1,947,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Kistler Tiffany Companies LLC grew its holdings in Biogen by 41.7% during the fourth quarter. Kistler Tiffany Companies LLC now owns 119 shares of the biotechnology company’s stock valued at $35,000 after purchasing an additional 35 shares during the last quarter. Bourgeon Capital Management LLC bought a new position in shares of Biogen during the third quarter valued at $30,000. Resources Management Corp CT ADV bought a new position in shares of Biogen during the third quarter valued at $34,000. HWG Holdings LP bought a new position in shares of Biogen during the fourth quarter valued at $47,000. Finally, Sandy Spring Bank lifted its holdings in shares of Biogen by 43.5% during the third quarter. Sandy Spring Bank now owns 165 shares of the biotechnology company’s stock valued at $39,000 after acquiring an additional 50 shares during the period. 87.37% of the stock is currently owned by hedge funds and other institutional investors.
Shares of BIIB stock opened at $278.14 on Friday. The stock has a 50-day moving average price of $294.92 and a 200 day moving average price of $260.37. The company has a quick ratio of 1.74, a current ratio of 1.91 and a debt-to-equity ratio of 0.35. The firm has a market cap of $51.28 billion, a price-to-earnings ratio of 9.89, a PEG ratio of 0.98 and a beta of 1.09. Biogen Inc has a 12 month low of $215.77 and a 12 month high of $338.87.
Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Tuesday, October 22nd. The biotechnology company reported $9.17 EPS for the quarter, topping the Zacks’ consensus estimate of $8.27 by $0.90. The firm had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.53 billion. Biogen had a return on equity of 46.14% and a net margin of 37.91%. The company’s revenue was up 4.7% on a year-over-year basis. During the same period last year, the company earned $7.40 earnings per share. Sell-side analysts predict that Biogen Inc will post 33.16 earnings per share for the current fiscal year.
Biogen announced that its Board of Directors has approved a share buyback program on Saturday, December 21st that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the biotechnology company to repurchase shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.
A number of research firms recently issued reports on BIIB. JPMorgan Chase & Co. lifted their price target on Biogen from $244.00 to $260.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Leerink Swann raised Biogen from a “market perform” rating to an “outperform” rating in a report on Wednesday, October 23rd. Stifel Nicolaus lifted their price target on Biogen from $236.00 to $296.00 and gave the company a “hold” rating in a report on Tuesday, October 22nd. ValuEngine raised Biogen from a “sell” rating to a “hold” rating in a report on Friday, January 3rd. Finally, Standpoint Research cut Biogen from a “buy” rating to a “hold” rating in a report on Friday, November 1st. Four investment analysts have rated the stock with a sell rating, twenty-two have given a hold rating and ten have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $288.72.
In related news, Director Brian S. Posner sold 1,055 shares of Biogen stock in a transaction dated 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 sale, the director now directly owns 6,995 shares in the company, valued at $2,044,988.25. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.39% of the stock is owned by company insiders.
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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