Court Place Advisors LLC boosted its position in Biogen Inc (NASDAQ:BIIB) by 1.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,627 shares of the biotechnology company’s stock after buying an additional 277 shares during the period. Biogen makes up about 1.7% of Court Place Advisors LLC’s holdings, making the stock its 15th biggest position. Court Place Advisors LLC’s holdings in Biogen were worth $4,637,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. Kistler Tiffany Companies LLC grew its position in Biogen by 41.7% in the 4th quarter. Kistler Tiffany Companies LLC now owns 119 shares of the biotechnology company’s stock valued at $35,000 after buying an additional 35 shares during the last quarter. Bourgeon Capital Management LLC purchased a new stake in shares of Biogen during the 3rd quarter worth $30,000. Resources Management Corp CT ADV purchased a new stake in shares of Biogen during the 3rd quarter worth $34,000. Peddock Capital Advisors LLC purchased a new stake in shares of Biogen during the 4th quarter worth $45,000. Finally, HWG Holdings LP purchased a new stake in shares of Biogen during the 4th quarter worth $47,000. Hedge funds and other institutional investors own 87.19% of the company’s stock.
In related news, Director Brian S. Posner sold 1,055 shares of the business’s stock in a transaction dated 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 transaction, the director now owns 6,995 shares of the company’s stock, valued at approximately $2,044,988.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.39% of the company’s stock.
Several equities research analysts have commented on BIIB shares. Stifel Nicolaus boosted their target price on shares of Biogen from $236.00 to $296.00 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. ValuEngine upgraded shares of Biogen from a “sell” rating to a “hold” rating in a research report on Friday, January 3rd. Standpoint Research lowered shares of Biogen from a “buy” rating to a “hold” rating in a research report on Friday, November 1st. Leerink Swann upgraded shares of Biogen from a “market perform” rating to an “outperform” rating in a research report on Wednesday, October 23rd. Finally, Credit Suisse Group restated a “hold” rating and set a $300.00 target price on shares of Biogen in a research report on Thursday, January 23rd. Four equities research analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $291.64.
Shares of BIIB stock opened at $281.95 on Wednesday. The firm has a 50-day moving average price of $293.38 and a 200 day moving average price of $261.32. Biogen Inc has a twelve month low of $215.77 and a twelve month high of $338.87. The company has a market capitalization of $50.19 billion, a price-to-earnings ratio of 8.61, a PEG ratio of 0.96 and a beta of 1.09. The company has a current ratio of 1.91, a quick ratio of 1.74 and a debt-to-equity ratio of 0.35.
Biogen declared that its Board of Directors has authorized a stock repurchase plan on Saturday, December 21st that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the biotechnology company to buy shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its stock is undervalued.
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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