Sentry Investment Management LLC Sells 81 Shares of Biogen Inc. (NASDAQ:BIIB)

Sentry Investment Management LLC decreased its position in shares of Biogen Inc. (NASDAQ:BIIB) by 9.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 758 shares of the biotechnology company’s stock after selling 81 shares during the quarter. Sentry Investment Management LLC’s holdings in Biogen were worth $196,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Snowden Capital Advisors LLC grew its holdings in Biogen by 2.5% during the second quarter. Snowden Capital Advisors LLC now owns 1,591 shares of the biotechnology company’s stock worth $453,000 after buying an additional 39 shares in the last quarter. First Manhattan Co. grew its holdings in Biogen by 33.3% during the fourth quarter. First Manhattan Co. now owns 160 shares of the biotechnology company’s stock worth $44,000 after buying an additional 40 shares in the last quarter. Systematic Financial Management LP grew its holdings in Biogen by 2.5% during the first quarter. Systematic Financial Management LP now owns 1,640 shares of the biotechnology company’s stock worth $456,000 after buying an additional 40 shares in the last quarter. Stratos Wealth Partners LTD. grew its holdings in Biogen by 1.1% during the third quarter. Stratos Wealth Partners LTD. now owns 4,032 shares of the biotechnology company’s stock worth $1,036,000 after buying an additional 42 shares in the last quarter. Finally, Sequoia Financial Advisors LLC grew its holdings in Biogen by 2.3% during the third quarter. Sequoia Financial Advisors LLC now owns 2,043 shares of the biotechnology company’s stock worth $525,000 after buying an additional 45 shares in the last quarter. Institutional investors own 87.93% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on BIIB shares. Robert W. Baird decreased their price target on Biogen from $333.00 to $316.00 and set an “outperform” rating for the company in a report on Wednesday, February 14th. Oppenheimer decreased their price target on Biogen from $295.00 to $290.00 and set an “outperform” rating for the company in a report on Wednesday, February 14th. Bank Of America (Bofa) decreased their price target on Biogen from $290.00 to $280.00 and set a “neutral” rating for the company in a report on Monday, February 12th. Royal Bank of Canada reissued an “outperform” rating and issued a $364.00 price objective on shares of Biogen in a research report on Tuesday, March 5th. Finally, William Blair reissued an “outperform” rating on shares of Biogen in a research report on Monday, April 1st. Ten research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Biogen has a consensus rating of “Moderate Buy” and a consensus price target of $298.96.

Biogen Stock Performance

NASDAQ:BIIB opened at $195.15 on Wednesday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.26 and a current ratio of 2.00. Biogen Inc. has a 52-week low of $194.94 and a 52-week high of $319.76. The firm has a market cap of $28.37 billion, a price-to-earnings ratio of 24.45, a PEG ratio of 1.87 and a beta of -0.02. The business’s fifty day moving average is $218.13 and its 200 day moving average is $236.87.

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

Insider Activity at Biogen

In related news, Director Eric K. Rowinsky acquired 455 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The shares were bought at an average cost of $222.54 per share, for a total transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Biogen news, Director Eric K. Rowinsky bought 455 shares of the firm’s stock in a transaction on Thursday, February 15th. The shares were acquired at an average cost of $222.54 per share, for a total transaction of $101,255.70. Following the purchase, the director now directly owns 20,629 shares of the company’s stock, valued at $4,590,777.66. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Priya Singhal sold 262 shares of the company’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $221.23, for a total value of $57,962.26. Following the completion of the transaction, the insider now owns 4,886 shares in the company, valued at $1,080,929.78. The disclosure for this sale can be found here. In the last three months, insiders have sold 882 shares of company stock worth $202,030. 0.60% of the stock is owned by company insiders.

About Biogen

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.