Biogen Inc. (BIIB) Shares Bought by Sentry Investment Management LLC
Sentry Investment Management LLC raised its position in shares of Biogen Inc. (NASDAQ:BIIB) by 12.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 26,660 shares of the biotechnology company’s stock after buying an additional 3,051 shares during the period. Sentry Investment Management LLC’s holdings in Biogen were worth $8,345,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Squarepoint Ops LLC bought a new position in Biogen during the first quarter valued at about $1,942,000. Ladenburg Thalmann Financial Services Inc. increased its stake in Biogen by 13.7% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 6,790 shares of the biotechnology company’s stock valued at $1,768,000 after buying an additional 820 shares during the last quarter. Oak Associates Ltd. OH purchased a new stake in Biogen during the first quarter valued at $469,000. First Republic Investment Management Inc. increased its stake in Biogen by 38.2% in the first quarter. First Republic Investment Management Inc. now owns 49,266 shares of the biotechnology company’s stock valued at $12,824,000 after buying an additional 13,609 shares during the last quarter. Finally, BlueMountain Capital Management LLC purchased a new stake in Biogen during the first quarter valued at $712,000. Institutional investors and hedge funds own 86.43% of the company’s stock.
Biogen Inc. (NASDAQ:BIIB) remained flat at $303.77 during midday trading on Tuesday. The company’s stock had a trading volume of 734,417 shares. Biogen Inc. has a one year low of $223.02 and a one year high of $333.65. The firm has a 50-day moving average of $299.83 and a 200-day moving average of $287.80. The company has a market capitalization of $66.09 billion, a price-to-earnings ratio of 17.18 and a beta of 0.75.
Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Wednesday, October 26th. The biotechnology company reported $5.19 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $4.97 by $0.22. The company had revenue of $2.96 billion for the quarter, compared to analysts’ expectations of $2.91 billion. Biogen had a net margin of 34.03% and a return on equity of 40.02%. The business’s revenue was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.48 EPS. On average, equities analysts expect that Biogen Inc. will post $20.22 EPS for the current fiscal year.
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Several research analysts have commented on BIIB shares. Piper Jaffray Cos. reaffirmed a “neutral” rating on shares of Biogen in a research report on Wednesday, August 3rd. BMO Capital Markets lifted their price target on Biogen from $286.00 to $304.00 and gave the stock a “market perform” rating in a research report on Monday, August 1st. Credit Suisse Group AG set a $322.00 price target on Biogen and gave the stock a “hold” rating in a research report on Sunday, September 18th. Robert W. Baird reaffirmed a “positive” rating and set a $284.00 price target (up previously from $268.00) on shares of Biogen in a research report on Monday, August 1st. Finally, Vetr raised Biogen from a “buy” rating to a “strong-buy” rating and set a $346.47 price target on the stock in a research report on Monday, September 12th. Nine investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $338.93.
In other Biogen news, EVP Adriana Karaboutis sold 380 shares of Biogen stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $313.00, for a total value of $118,940.00. Following the completion of the sale, the executive vice president now directly owns 7,172 shares in the company, valued at $2,244,836. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Caroline Dorsa sold 27,570 shares of Biogen stock in a transaction that occurred on Thursday, September 22nd. The shares were sold at an average price of $314.00, for a total transaction of $8,656,980.00. Following the completion of the sale, the director now owns 19,663 shares of the company’s stock, valued at $6,174,182. The disclosure for this sale can be found here. Corporate insiders own 0.32% of the company’s stock.
Biogen Company Profile
Biogen Inc, formerly Biogen Idec Inc, is a biopharmaceutical company. The Company operates in discovering, developing, manufacturing and delivering therapies to patients for the treatment of neurodegenerative diseases, hematologic conditions and autoimmune disorders segment. The Company markets products, including TECFIDERA, AVONEX, PLEGRIDY, TYSABRI and FAMPYRA for multiple sclerosis (MS), ELOCTATE for hemophilia A and ALPROLIX for hemophilia B, and FUMADERM for the treatment of severe plaque psoriasis.
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