Biogen Inc (BIIB) Stake Lessened by Greenleaf Trust
Greenleaf Trust lessened its stake in Biogen Inc (NASDAQ:BIIB) by 25.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,904 shares of the biotechnology company’s stock after selling 655 shares during the quarter. Greenleaf Trust’s holdings in Biogen were worth $450,000 as of its most recent filing with the SEC.
Several other institutional investors also recently modified their holdings of BIIB. Oregon Public Employees Retirement Fund raised its stake in shares of Biogen by 27,620.0% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 14,309,047 shares of the biotechnology company’s stock valued at $48,000 after purchasing an additional 14,257,427 shares in the last quarter. Norges Bank acquired a new stake in shares of Biogen in the 4th quarter valued at about $644,940,000. Boston Partners raised its stake in shares of Biogen by 424.3% in the 1st quarter. Boston Partners now owns 922,718 shares of the biotechnology company’s stock valued at $218,113,000 after purchasing an additional 746,711 shares in the last quarter. Prudential Financial Inc. raised its stake in shares of Biogen by 158.4% in the 4th quarter. Prudential Financial Inc. now owns 689,208 shares of the biotechnology company’s stock valued at $207,397,000 after purchasing an additional 422,529 shares in the last quarter. Finally, Parnassus Investments CA raised its stake in shares of Biogen by 536.4% in the 4th quarter. Parnassus Investments CA now owns 350,000 shares of the biotechnology company’s stock valued at $105,322,000 after purchasing an additional 295,000 shares in the last quarter. Institutional investors and hedge funds own 88.33% of the company’s stock.
In other Biogen news, Director Robert W. Pangia sold 6,114 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $328.55, for a total value of $2,008,754.70. Following the completion of the transaction, the director now owns 24,701 shares in the company, valued at approximately $8,115,513.55. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Alexander J. Denner bought 50,342 shares of the firm’s stock in a transaction on Tuesday, April 30th. The stock was purchased at an average price of $229.25 per share, with a total value of $11,540,903.50. Following the transaction, the director now owns 10,909 shares in the company, valued at approximately $2,500,888.25. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 173,035 shares of company stock valued at $39,759,632. 0.29% of the stock is owned by insiders.
Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Wednesday, April 24th. The biotechnology company reported $6.98 earnings per share for the quarter, beating analysts’ consensus estimates of $6.88 by $0.10. Biogen had a net margin of 33.79% and a return on equity of 41.39%. The business had revenue of $3.49 billion during the quarter, compared to the consensus estimate of $3.38 billion. During the same quarter in the prior year, the firm earned $6.05 EPS. The company’s revenue for the quarter was up 11.5% compared to the same quarter last year. On average, equities analysts expect that Biogen Inc will post 29.58 earnings per share for the current fiscal year.
A number of equities research analysts have recently issued reports on the stock. Oppenheimer set a $372.00 target price on shares of Biogen and gave the company a “buy” rating in a research note on Friday, January 25th. Stifel Nicolaus lowered shares of Biogen from a “buy” rating to a “hold” rating and cut their target price for the company from $397.00 to $346.00 in a research note on Thursday, February 21st. Citigroup upped their target price on shares of Biogen from $372.00 to $380.00 and gave the company an “outperform” rating in a research note on Wednesday, January 30th. Leerink Swann upped their target price on shares of Biogen from $328.00 to $341.00 and gave the company a “market perform” rating in a research note on Wednesday, January 30th. Finally, Mizuho set a $427.00 target price on shares of Biogen and gave the company a “buy” rating in a research note on Tuesday, January 29th. Three investment analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and seven have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $283.23.
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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