Motley Fool Wealth Management LLC Sells 18,667 Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Motley Fool Wealth Management LLC reduced its stake in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 3.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 470,289 shares of the biotechnology company’s stock after selling 18,667 shares during the quarter. BioMarin Pharmaceutical comprises approximately 2.4% of Motley Fool Wealth Management LLC’s portfolio, making the stock its 10th largest holding. Motley Fool Wealth Management LLC owned about 0.25% of BioMarin Pharmaceutical worth $45,429,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC raised its stake in BioMarin Pharmaceutical by 7,368.7% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 60,571 shares of the biotechnology company’s stock worth $5,840,000 after acquiring an additional 59,760 shares in the last quarter. EFG Asset Management North America Corp. raised its stake in BioMarin Pharmaceutical by 44.9% during the 3rd quarter. EFG Asset Management North America Corp. now owns 67,322 shares of the biotechnology company’s stock worth $5,957,000 after acquiring an additional 20,874 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in BioMarin Pharmaceutical during the 4th quarter worth $3,598,000. FMR LLC increased its stake in BioMarin Pharmaceutical by 30.4% in the third quarter. FMR LLC now owns 713,797 shares of the biotechnology company’s stock valued at $63,157,000 after purchasing an additional 166,219 shares during the period. Finally, Nordea Investment Management AB increased its stake in BioMarin Pharmaceutical by 4.9% in the fourth quarter. Nordea Investment Management AB now owns 11,594 shares of the biotechnology company’s stock valued at $1,121,000 after purchasing an additional 544 shares during the period. 98.71% of the stock is currently owned by institutional investors and hedge funds.

BioMarin Pharmaceutical Price Performance

Shares of BMRN stock traded down $1.26 during trading hours on Friday, hitting $80.91. The company’s stock had a trading volume of 2,257,132 shares, compared to its average volume of 1,697,110. The business has a fifty day moving average of $87.58 and a 200-day moving average of $89.14. The stock has a market cap of $15.27 billion, a price-to-earnings ratio of 75.62, a P/E/G ratio of 1.49 and a beta of 0.31. BioMarin Pharmaceutical Inc. has a twelve month low of $76.02 and a twelve month high of $99.56. The company has a current ratio of 2.51, a quick ratio of 1.57 and a debt-to-equity ratio of 0.12.

BioMarin Pharmaceutical (NASDAQ:BMRN) last released its quarterly earnings results on Thursday, February 22nd. The biotechnology company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.44 by $0.05. The business had revenue of $646.21 million for the quarter, compared to analyst estimates of $639.53 million. BioMarin Pharmaceutical had a net margin of 8.31% and a return on equity of 5.39%. The company’s quarterly revenue was up 20.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.11 earnings per share. As a group, equities research analysts anticipate that BioMarin Pharmaceutical Inc. will post 1.85 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have commented on BMRN shares. Robert W. Baird dropped their price objective on shares of BioMarin Pharmaceutical from $127.00 to $104.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 30th. Royal Bank of Canada restated a “sector perform” rating and issued a $100.00 price objective on shares of BioMarin Pharmaceutical in a research note on Friday, February 23rd. Canaccord Genuity Group dropped their price objective on shares of BioMarin Pharmaceutical from $91.00 to $89.00 and set a “hold” rating on the stock in a research note on Friday. Wells Fargo & Company lifted their price objective on shares of BioMarin Pharmaceutical from $100.00 to $110.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, Citigroup dropped their price objective on shares of BioMarin Pharmaceutical from $94.00 to $91.00 and set a “neutral” rating on the stock in a research note on Thursday. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $107.50.

Insider Activity

In other news, EVP Jeffrey Robert Ajer sold 4,000 shares of the stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $87.07, for a total value of $348,280.00. Following the sale, the executive vice president now directly owns 94,047 shares in the company, valued at $8,188,672.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Jean Jacques Bienaime sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $88.28, for a total transaction of $1,324,200.00. Following the transaction, the director now owns 419,602 shares of the company’s stock, valued at $37,042,464.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jeffrey Robert Ajer sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $87.07, for a total transaction of $348,280.00. Following the transaction, the executive vice president now directly owns 94,047 shares in the company, valued at approximately $8,188,672.29. The disclosure for this sale can be found here. Insiders have sold 103,229 shares of company stock worth $9,062,967 over the last ninety days. 1.84% of the stock is currently owned by insiders.

About BioMarin Pharmaceutical

BioMarin Pharmaceutical Inc develops and commercializes therapies for people with serious and life-threatening rare diseases and medical conditions. Its commercial products include Vimizim, an enzyme replacement therapy for the treatment of mucopolysaccharidosis (MPS) IV type A, a lysosomal storage disorder; Naglazyme, a recombinant form of N-acetylgalactosamine 4-sulfatase for patients with MPS VI; and Kuvan, a proprietary synthetic oral form of 6R-BH4 that is used to treat patients with phenylketonuria (PKU), an inherited metabolic disease.