Tdam USA Inc. Acquires 202 Shares of Biogen Inc (BIIB)
Tdam USA Inc. boosted its stake in shares of Biogen Inc (NASDAQ:BIIB) by 16.2% during the first quarter, Holdings Channel reports. The institutional investor owned 1,446 shares of the biotechnology company’s stock after buying an additional 202 shares during the period. Tdam USA Inc.’s holdings in Biogen were worth $395,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently bought and sold shares of the stock. Endurance Wealth Management Inc. boosted its position in Biogen by 4.0% in the first quarter. Endurance Wealth Management Inc. now owns 5,200 shares of the biotechnology company’s stock worth $1,422,000 after buying an additional 200 shares in the last quarter. Sei Investments Co. boosted its position in Biogen by 25.9% in the first quarter. Sei Investments Co. now owns 367,106 shares of the biotechnology company’s stock worth $100,373,000 after buying an additional 75,587 shares in the last quarter. Karp Capital Management Corp bought a new position in Biogen during the first quarter worth $26,224,000. Montecito Bank & Trust boosted its position in Biogen by 9.2% in the first quarter. Montecito Bank & Trust now owns 1,418 shares of the biotechnology company’s stock worth $388,000 after buying an additional 120 shares in the last quarter. Finally, Balasa Dinverno & Foltz LLC boosted its position in Biogen by 4.3% in the first quarter. Balasa Dinverno & Foltz LLC now owns 1,082 shares of the biotechnology company’s stock worth $296,000 after buying an additional 45 shares in the last quarter. Hedge funds and other institutional investors own 86.97% of the company’s stock.
Shares of Biogen Inc (NASDAQ:BIIB) opened at 257.16 on Wednesday. The firm has a market cap of $54.55 billion, a PE ratio of 16.11 and a beta of 0.72. The firm’s 50-day moving average is $261.65 and its 200-day moving average is $278.41. Biogen Inc has a 12-month low of $223.02 and a 12-month high of $333.65.
Biogen (NASDAQ:BIIB) last announced its earnings results on Tuesday, April 25th. The biotechnology company reported $5.20 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $4.97 by $0.23. Biogen had a return on equity of 38.48% and a net margin of 32.34%. The company had revenue of $2.81 billion for the quarter, compared to analyst estimates of $2.73 billion. During the same period in the prior year, the company posted $4.79 EPS. Biogen’s quarterly revenue was up 3.1% on a year-over-year basis. Equities analysts expect that Biogen Inc will post $20.48 earnings per share for the current fiscal year.
A number of equities analysts have weighed in on BIIB shares. Robert W. Baird restated a “hold” rating on shares of Biogen in a research report on Tuesday, February 7th. Leerink Swann cut shares of Biogen from an “outperform” rating to a “market perform” rating and set a $300.00 price objective for the company. in a research report on Thursday, March 16th. Vetr upgraded shares of Biogen from a “buy” rating to a “strong-buy” rating and set a $310.17 price objective for the company in a research report on Monday, March 20th. TheStreet upgraded shares of Biogen from a “c+” rating to a “b-” rating in a research report on Tuesday, February 21st. Finally, Mizuho reduced their price objective on shares of Biogen from $290.00 to $274.00 and set a “neutral” rating for the company in a research report on Wednesday, May 31st. Twelve research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $330.09.
In other Biogen news, VP Paul J. Clancy sold 9,891 shares of the company’s stock in a transaction that occurred on Monday, March 13th. The stock was sold at an average price of $291.55, for a total value of $2,883,721.05. Following the transaction, the vice president now directly owns 20,705 shares of the company’s stock, valued at approximately $6,036,542.75. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Michel Vounatsos bought 1,402 shares of the business’s stock in a transaction on Monday, May 1st. The stock was acquired at an average cost of $271.35 per share, for a total transaction of $380,432.70. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 21,764 shares of company stock worth $6,295,354. 0.32% of the stock is currently owned by corporate insiders.
Biogen Company Profile
Biogen Inc is a biopharmaceutical company. The Company focuses on discovering, developing, manufacturing and delivering therapies to people living with serious neurological, rare and autoimmune diseases. The Company markets products, including TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, ZINBRYTA and FAMPYRA for multiple sclerosis (MS), FUMADERM for the treatment of severe plaque psoriasis and SPINRAZA for the treatment of spinal muscular atrophy (SMA).
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