Meiji Yasuda Asset Management Co Ltd. lifted its position in shares of Biogen Inc (NASDAQ:BIIB) by 1.7% during the first quarter, HoldingsChannel reports. The firm owned 6,982 shares of the biotechnology company’s stock after acquiring an additional 116 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in Biogen were worth $1,650,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. BlackRock Inc. increased its position in shares of Biogen by 0.4% during the fourth quarter. BlackRock Inc. now owns 16,568,963 shares of the biotechnology company’s stock worth $4,985,931,000 after purchasing an additional 70,603 shares in the last quarter. Oregon Public Employees Retirement Fund increased its position in shares of Biogen by 27,620.0% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 14,309,047 shares of the biotechnology company’s stock worth $48,000 after purchasing an additional 14,257,427 shares in the last quarter. Northern Trust Corp increased its position in shares of Biogen by 4.8% during the fourth quarter. Northern Trust Corp now owns 2,907,306 shares of the biotechnology company’s stock worth $874,867,000 after purchasing an additional 133,137 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Biogen by 5.6% during the fourth quarter. Geode Capital Management LLC now owns 2,713,577 shares of the biotechnology company’s stock worth $815,190,000 after purchasing an additional 144,464 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Biogen during the fourth quarter worth about $644,940,000. Institutional investors and hedge funds own 87.64% of the company’s stock.
Several equities analysts recently issued reports on BIIB shares. BidaskClub cut Biogen from a “buy” rating to a “hold” rating in a research report on Wednesday. Standpoint Research upgraded Biogen from a “hold” rating to a “buy” rating in a research report on Wednesday, June 5th. Citigroup restated a “neutral” rating on shares of Biogen in a research report on Thursday, May 23rd. Wedbush started coverage on Biogen in a research report on Wednesday, May 22nd. They issued a “neutral” rating and a $231.00 price target on the stock. Finally, Credit Suisse Group started coverage on Biogen in a research report on Monday, May 20th. They issued an “underperform” rating and a $198.00 price target on the stock. Three investment analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and seven have given a buy rating to the company. Biogen currently has an average rating of “Hold” and a consensus price target of $283.23.
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 the Zacks’ consensus estimate of $6.88 by $0.10. Biogen had a return on equity of 41.39% and a net margin of 33.79%. The company had revenue of $3.49 billion for the quarter, compared to analyst estimates of $3.38 billion. During the same quarter in the previous year, the company earned $6.05 EPS. The firm’s revenue for the quarter was up 11.5% compared to the same quarter last year. On average, sell-side analysts predict that Biogen Inc will post 29.57 EPS for the current year.
In other news, CEO Michel Vounatsos purchased 4,351 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The shares were acquired at an average price of $231.48 per share, with a total value of $1,007,169.48. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Alexander J. Denner purchased 118,342 shares of the firm’s stock in a transaction dated Thursday, May 2nd. The shares were purchased at an average cost of $229.94 per share, for a total transaction of $27,211,559.48. Following the purchase, the director now directly owns 10,909 shares in the company, valued at $2,508,415.46. The disclosure for this purchase can be found here. Insiders acquired a total of 173,035 shares of company stock worth $39,759,632 in the last ninety days. 0.29% of the stock is owned by corporate insiders.
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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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