Livforsakringsbolaget Skandia Omsesidigt Raises Position in Biogen Inc. (NASDAQ:BIIB)

Livforsakringsbolaget Skandia Omsesidigt grew its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 157.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 430 shares of the biotechnology company’s stock after purchasing an additional 263 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Biogen were worth $111,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in BIIB. Everence Capital Management Inc. increased its holdings in Biogen by 26.6% in the 4th quarter. Everence Capital Management Inc. now owns 5,000 shares of the biotechnology company’s stock valued at $1,294,000 after purchasing an additional 1,050 shares in the last quarter. DGS Capital Management LLC increased its holdings in Biogen by 4.2% in the 4th quarter. DGS Capital Management LLC now owns 1,265 shares of the biotechnology company’s stock valued at $327,000 after purchasing an additional 51 shares in the last quarter. SVB Wealth LLC increased its holdings in Biogen by 48.0% in the 4th quarter. SVB Wealth LLC now owns 1,174 shares of the biotechnology company’s stock valued at $304,000 after purchasing an additional 381 shares in the last quarter. Mackenzie Financial Corp grew its stake in shares of Biogen by 29.5% during the fourth quarter. Mackenzie Financial Corp now owns 60,626 shares of the biotechnology company’s stock valued at $15,688,000 after acquiring an additional 13,796 shares in the last quarter. Finally, Vontobel Holding Ltd. grew its stake in shares of Biogen by 93.1% during the fourth quarter. Vontobel Holding Ltd. now owns 37,337 shares of the biotechnology company’s stock valued at $9,662,000 after acquiring an additional 18,005 shares in the last quarter. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Biogen Trading Down 0.9 %

NASDAQ BIIB opened at $190.52 on Friday. Biogen Inc. has a twelve month low of $189.52 and a twelve month high of $319.76. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.26 and a current ratio of 2.00. The stock has a market cap of $27.69 billion, a price-to-earnings ratio of 23.87, a PEG ratio of 1.83 and a beta of -0.02. The firm’s 50 day moving average price is $216.17 and its two-hundred day moving average price is $236.24.

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

Insider Buying and Selling at Biogen

In other Biogen news, insider Priya Singhal sold 419 shares of Biogen stock in a transaction on Monday, February 12th. The shares were sold at an average price of $239.45, for a total transaction of $100,329.55. Following the completion of the sale, the insider now owns 4,516 shares of the company’s stock, valued at approximately $1,081,356.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Biogen news, insider Priya Singhal sold 419 shares of Biogen stock in a transaction on Monday, February 12th. The shares were sold at an average price of $239.45, for a total transaction of $100,329.55. Following the completion of the sale, the insider now owns 4,516 shares of the company’s stock, valued at approximately $1,081,356.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Eric K. Rowinsky acquired 455 shares of Biogen stock in a transaction that occurred on Thursday, February 15th. The stock was acquired at an average cost of $222.54 per share, with a total value of $101,255.70. Following the purchase, the director now owns 20,629 shares in the company, valued at approximately $4,590,777.66. The disclosure for this purchase can be found here. Insiders sold 882 shares of company stock valued at $202,030 in the last quarter. Company insiders own 0.60% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on BIIB. Bank Of America (Bofa) reduced their price target on shares of Biogen from $290.00 to $280.00 and set a “neutral” rating on the stock in a research report on Monday, February 12th. Wells Fargo & Company cut shares of Biogen from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $315.00 to $240.00 in a research report on Wednesday, February 14th. UBS Group reduced their price target on shares of Biogen from $250.00 to $214.00 and set a “neutral” rating on the stock in a research report on Wednesday. Needham & Company LLC reduced their price target on shares of Biogen from $305.00 to $300.00 and set a “buy” rating on the stock in a research report on Tuesday, February 13th. Finally, StockNews.com cut shares of Biogen from a “buy” rating to a “hold” rating in a report on Tuesday, February 20th. Ten investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $296.35.

Biogen Company 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.