Ensign Peak Advisors Inc Boosts Stake in Biogen Inc (NASDAQ:BIIB)

Ensign Peak Advisors Inc lifted its stake in shares of Biogen Inc (NASDAQ:BIIB) by 0.9% in the first quarter, according to its most recent filing with the SEC. The fund owned 278,738 shares of the biotechnology company’s stock after acquiring an additional 2,436 shares during the period. Ensign Peak Advisors Inc owned approximately 0.17% of Biogen worth $88,186,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in BIIB. NEXT Financial Group Inc lifted its position in Biogen by 19.6% in the 4th quarter. NEXT Financial Group Inc now owns 610 shares of the biotechnology company’s stock worth $181,000 after buying an additional 100 shares during the last quarter. Hills Bank & Trust Co. lifted its holdings in shares of Biogen by 2.5% in the 4th quarter. Hills Bank & Trust Co. now owns 1,938 shares of the biotechnology company’s stock worth $575,000 after acquiring an additional 48 shares during the last quarter. Meritage Portfolio Management bought a new stake in shares of Biogen in the 4th quarter worth approximately $7,424,000. CWM LLC boosted its stake in shares of Biogen by 16.7% in the 4th quarter. CWM LLC now owns 650 shares of the biotechnology company’s stock valued at $193,000 after purchasing an additional 93 shares in the last quarter. Finally, Dowling & Yahnke LLC grew its holdings in shares of Biogen by 4.8% during the 4th quarter. Dowling & Yahnke LLC now owns 7,385 shares of the biotechnology company’s stock valued at $2,191,000 after purchasing an additional 338 shares during the last quarter. Institutional investors own 87.44% of the company’s stock.

In related news, Director Stephen A. Sherwin sold 2,434 shares of the firm’s stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $295.22, for a total value of $718,565.48. Following the completion of the transaction, the director now directly owns 16,517 shares of the company’s stock, valued at $4,876,148.74. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.39% of the stock is currently owned by corporate insiders.

Shares of BIIB traded down $2.00 during midday trading on Tuesday, hitting $302.53. 541,684 shares of the company traded hands, compared to its average volume of 1,395,560. The stock has a market cap of $49.70 billion, a price-to-earnings ratio of 9.39, a PEG ratio of 0.66 and a beta of 0.54. The firm has a 50 day moving average of $312.94 and a 200-day moving average of $303.44. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.54 and a current ratio of 1.73. Biogen Inc has a 52 week low of $215.77 and a 52 week high of $374.99.

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

Several analysts have issued reports on the stock. Raymond James lowered shares of Biogen from a “market perform” rating to an “underperform” rating in a research report on Wednesday, April 22nd. Mizuho reiterated a “hold” rating and set a $316.00 price target on shares of Biogen in a report on Wednesday, April 22nd. Canaccord Genuity decreased their price objective on shares of Biogen from $360.00 to $350.00 and set a “buy” rating on the stock in a research report on Friday, April 24th. Wells Fargo & Co boosted their price target on Biogen from $286.00 to $311.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. Finally, William Blair reiterated a “hold” rating on shares of Biogen in a research report on Friday, April 24th. Six analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and eleven have given a buy rating to the company. Biogen presently has an average rating of “Hold” and an average target price of $317.46.

About Biogen

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.

See Also: Net Income

Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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