Montrusco Bolton Investments Inc. boosted its holdings in Biogen Inc (NASDAQ:BIIB) by 31.5% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 56,341 shares of the biotechnology company’s stock after purchasing an additional 13,490 shares during the quarter. Biogen comprises 1.2% of Montrusco Bolton Investments Inc.’s portfolio, making the stock its 25th largest position. Montrusco Bolton Investments Inc.’s holdings in Biogen were worth $19,878,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. Northern Trust Corp lifted its stake in shares of Biogen by 0.7% in the second quarter. Northern Trust Corp now owns 2,892,559 shares of the biotechnology company’s stock worth $839,536,000 after buying an additional 19,730 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Biogen by 3.2% in the second quarter. Bank of New York Mellon Corp now owns 2,362,136 shares of the biotechnology company’s stock worth $685,588,000 after buying an additional 72,668 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Biogen by 0.9% in the second quarter. Massachusetts Financial Services Co. MA now owns 2,095,005 shares of the biotechnology company’s stock worth $608,054,000 after buying an additional 18,790 shares in the last quarter. Morgan Stanley lifted its stake in shares of Biogen by 61.1% in the second quarter. Morgan Stanley now owns 1,751,109 shares of the biotechnology company’s stock worth $508,240,000 after buying an additional 664,096 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its stake in shares of Biogen by 1.9% in the second quarter. Janus Henderson Group PLC now owns 1,595,986 shares of the biotechnology company’s stock worth $463,220,000 after buying an additional 30,353 shares in the last quarter. Institutional investors and hedge funds own 87.46% of the company’s stock.
In other Biogen news, EVP Michael D. Ehlers sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 26th. The shares were sold at an average price of $350.00, for a total transaction of $350,000.00. Following the completion of the sale, the executive vice president now directly owns 4,281 shares of the company’s stock, valued at $1,498,350. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.29% of the stock is currently owned by corporate insiders.
Several research analysts have recently issued reports on the stock. Mizuho set a $423.00 target price on shares of Biogen and gave the stock a “buy” rating in a research note on Friday, June 29th. BidaskClub downgraded shares of Biogen from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 29th. UBS Group upped their target price on shares of Biogen from $354.00 to $395.00 and gave the stock a “buy” rating in a research note on Thursday, July 26th. Citigroup increased their price objective on shares of Biogen to $483.00 and gave the company a “positive” rating in a research report on Thursday, July 26th. Finally, Raymond James restated a “buy” rating on shares of Biogen in a research report on Wednesday, October 3rd. Eight research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $381.31.
Shares of BIIB stock opened at $344.57 on Wednesday. Biogen Inc has a 12 month low of $249.17 and a 12 month high of $388.67. The company has a market cap of $71.17 billion, a price-to-earnings ratio of 15.80, a price-to-earnings-growth ratio of 1.36 and a beta of 0.86. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.36 and a quick ratio of 2.06.
Biogen (NASDAQ:BIIB) last announced its earnings results on Tuesday, July 24th. The biotechnology company reported $5.80 EPS for the quarter, beating the Zacks’ consensus estimate of $5.22 by $0.58. Biogen had a net margin of 23.06% and a return on equity of 38.17%. The business had revenue of $3.36 billion during the quarter, compared to analysts’ expectations of $3.25 billion. During the same period in the prior year, the company earned $5.04 earnings per share. The firm’s revenue was up 9.1% on a year-over-year basis. As a group, research analysts predict that Biogen Inc will post 25.34 earnings per share for the current year.
Biogen Company Profile
Biogen Inc discovers, develops, manufactures, and delivers therapies for the treatment of neurological and neurodegenerative diseases worldwide. The company offers TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, ZINBRYTA, and FAMPYRA for the treatment of multiple sclerosis (MS); FUMADERM for the treatment of plaque psoriasis; and SPINRAZA to treat spinal muscular atrophy.
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