Biogen Inc. (NASDAQ:BIIB) Holdings Decreased by Flputnam Investment Management Co.

Flputnam Investment Management Co. reduced its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 8.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,931 shares of the biotechnology company’s stock after selling 185 shares during the quarter. Flputnam Investment Management Co.’s holdings in Biogen were worth $500,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Altshuler Shaham Ltd bought a new position in Biogen during the 4th quarter worth $25,000. OFI Invest Asset Management bought a new position in Biogen during the 3rd quarter worth $26,000. Gladius Capital Management LP bought a new position in Biogen during the 3rd quarter worth $28,000. KB Financial Partners LLC grew its stake in Biogen by 105.1% during the 3rd quarter. KB Financial Partners LLC now owns 121 shares of the biotechnology company’s stock worth $31,000 after buying an additional 62 shares during the last quarter. Finally, CVA Family Office LLC bought a new position in Biogen during the 4th quarter worth $36,000. 87.93% of the stock is currently owned by institutional investors.

Biogen Trading Down 1.5 %

Shares of NASDAQ BIIB opened at $192.16 on Thursday. Biogen Inc. has a 12 month low of $192.01 and a 12 month high of $319.76. The company has a market cap of $27.93 billion, a price-to-earnings ratio of 24.08, a P/E/G ratio of 1.86 and a beta of -0.02. The company has a quick ratio of 1.26, a current ratio of 2.00 and a debt-to-equity ratio of 0.46. The business has a fifty day simple moving average of $217.16 and a 200-day simple moving average of $236.56.

Biogen (NASDAQ:BIIB) last announced its earnings results on Tuesday, February 13th. The biotechnology company reported $2.95 EPS for the quarter, missing the consensus estimate of $3.18 by ($0.23). The company had revenue of $2.39 billion for the quarter, compared to analysts’ expectations of $2.47 billion. Biogen had a net margin of 11.81% and a return on equity of 14.91%. During the same period in the prior year, the company earned $4.05 earnings per share. Sell-side analysts predict that Biogen Inc. will post 15.48 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. BMO Capital Markets lowered their price objective on Biogen from $295.00 to $285.00 and set an “outperform” rating for the company in a research note on Wednesday, February 14th. Cantor Fitzgerald reissued an “overweight” rating and issued a $311.00 price target on shares of Biogen in a research note on Tuesday, February 20th. UBS Group decreased their price target on Biogen from $276.00 to $250.00 and set a “neutral” rating for the company in a research note on Friday, February 16th. Royal Bank of Canada reissued an “outperform” rating and issued a $364.00 price target on shares of Biogen in a research note on Tuesday, March 5th. Finally, Bank of America decreased their price target on Biogen from $280.00 to $260.00 and set a “neutral” rating for the company in a research note on Friday, April 12th. Ten research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $297.73.

Insider Activity at Biogen

In related news, insider Priya Singhal sold 262 shares of the company’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $221.23, for a total transaction of $57,962.26. Following the transaction, the insider now directly owns 4,886 shares of the company’s stock, valued at $1,080,929.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Eric K. Rowinsky bought 455 shares of the company’s stock in a transaction on Thursday, February 15th. The shares were bought at an average cost of $222.54 per share, with a total value of $101,255.70. Following the transaction, the director now directly owns 20,629 shares in the company, valued at approximately $4,590,777.66. The acquisition was disclosed in a legal filing with the SEC, which can be accessed 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 directly owns 4,886 shares in the company, valued at $1,080,929.78. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 882 shares of company stock valued at $202,030. Company insiders own 0.60% of the company’s stock.

Biogen Profile

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.