Fjarde AP Fonden Fourth Swedish National Pension Fund Sells 1,700 Shares of Biogen Inc (NASDAQ:BIIB)

Fjarde AP Fonden Fourth Swedish National Pension Fund cut its holdings in shares of Biogen Inc (NASDAQ:BIIB) by 3.2% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 51,521 shares of the biotechnology company’s stock after selling 1,700 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Biogen were worth $16,300,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank purchased a new stake in Biogen during the fourth quarter valued at about $716,195,000. Amundi Pioneer Asset Management Inc. lifted its stake in shares of Biogen by 279.1% in the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 860,123 shares of the biotechnology company’s stock valued at $255,223,000 after acquiring an additional 633,249 shares during the last quarter. BlackRock Inc. boosted its holdings in Biogen by 2.5% during the 1st quarter. BlackRock Inc. now owns 16,043,037 shares of the biotechnology company’s stock valued at $5,075,698,000 after acquiring an additional 384,396 shares during the period. Renaissance Technologies LLC grew its position in Biogen by 8.3% during the 4th quarter. Renaissance Technologies LLC now owns 4,569,906 shares of the biotechnology company’s stock worth $1,356,028,000 after acquiring an additional 348,700 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Biogen by 14.0% in the 1st quarter. Bank of New York Mellon Corp now owns 2,412,860 shares of the biotechnology company’s stock worth $763,380,000 after purchasing an additional 295,556 shares during the period. Hedge funds and other institutional investors own 90.73% of the company’s stock.

NASDAQ:BIIB traded up $0.07 during mid-day trading on Friday, hitting $304.53. 680,022 shares of the company’s stock were exchanged, compared to its average volume of 1,449,989. The company has a market cap of $49.68 billion, a PE ratio of 9.40, a P/E/G ratio of 0.66 and a beta of 0.54. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.73 and a quick ratio of 1.54. Biogen Inc has a one year low of $215.77 and a one year high of $374.99. The business has a fifty day moving average price of $312.63 and a 200 day moving average price of $303.36.

Biogen (NASDAQ:BIIB) last released its earnings results on Wednesday, April 22nd. The biotechnology company reported $9.14 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $7.73 by $1.41. The firm had revenue of $3.53 billion during the quarter, compared to analyst estimates of $3.41 billion. Biogen had a net margin of 40.76% and a return on equity of 49.22%. The business’s revenue was up 1.3% on a year-over-year basis. During the same period last year, the business earned $6.98 earnings per share. On average, equities analysts forecast that Biogen Inc will post 33.13 EPS for the current fiscal year.

Several research analysts have recently issued reports on the stock. Mizuho restated a “hold” rating and issued a $316.00 target price on shares of Biogen in a report on Wednesday, April 22nd. Wells Fargo & Co raised their price target on shares of Biogen from $286.00 to $311.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. HC Wainwright reaffirmed a “buy” rating and set a $335.00 price objective on shares of Biogen in a research note on Thursday, February 6th. SVB Leerink reiterated an “outperform” rating on shares of Biogen in a report on Wednesday, April 8th. Finally, Stifel Nicolaus reduced their price target on Biogen from $296.00 to $294.00 and set a “hold” rating on the stock in a report on Wednesday, April 22nd. Six investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eleven have given a buy rating to the company. Biogen currently has a consensus rating of “Hold” and a consensus price target of $317.46.

In other Biogen news, Director Stephen A. Sherwin sold 2,434 shares of Biogen stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $295.22, for a total transaction of $718,565.48. Following the completion of the transaction, the director now owns 16,517 shares in the company, valued at $4,876,148.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.39% of the stock is currently owned by insiders.

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.

Further Reading: Beta

Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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