C WorldWide Group Holding A S Decreases Holdings in Biogen Inc. (BIIB)

C WorldWide Group Holding A S lowered its position in Biogen Inc. (NASDAQ:BIIB) by 24.0% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 49,665 shares of the biotechnology company’s stock after selling 15,710 shares during the period. C WorldWide Group Holding A S’s holdings in Biogen were worth $15,551,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in BIIB. PNC Financial Services Group Inc. lifted its holdings in Biogen by 29.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 446,410 shares of the biotechnology company’s stock valued at $122,056,000 after purchasing an additional 102,132 shares in the last quarter. Legal & General Group Plc lifted its holdings in Biogen by 3.9% in the 1st quarter. Legal & General Group Plc now owns 1,045,260 shares of the biotechnology company’s stock valued at $285,785,000 after purchasing an additional 39,220 shares in the last quarter. Cypress Asset Management Inc. TX lifted its holdings in Biogen by 15.0% in the 1st quarter. Cypress Asset Management Inc. TX now owns 3,072 shares of the biotechnology company’s stock valued at $840,000 after purchasing an additional 400 shares in the last quarter. Sentry Investment Management LLC lifted its holdings in Biogen by 1.4% in the 1st quarter. Sentry Investment Management LLC now owns 27,037 shares of the biotechnology company’s stock valued at $7,392,000 after purchasing an additional 377 shares in the last quarter. Finally, Ngam Advisors L.P. lifted its holdings in Biogen by 7.5% in the 1st quarter. Ngam Advisors L.P. now owns 58,812 shares of the biotechnology company’s stock valued at $16,080,000 after purchasing an additional 4,078 shares in the last quarter. Institutional investors own 87.76% of the company’s stock.

Shares of Biogen Inc. (NASDAQ:BIIB) traded up $0.48 on Friday, hitting $310.44. The stock had a trading volume of 820,700 shares, compared to its average volume of 1,616,859. The company has a quick ratio of 1.90, a current ratio of 2.19 and a debt-to-equity ratio of 0.46. The stock has a market cap of $65,650.92, a PE ratio of 14.38, a PEG ratio of 1.94 and a beta of 0.72. Biogen Inc. has a fifty-two week low of $244.28 and a fifty-two week high of $348.84.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Tuesday, October 24th. The biotechnology company reported $6.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.70 by $0.61. The business had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $3.05 billion. Biogen had a return on equity of 38.51% and a net margin of 29.44%. The business’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same quarter last year, the business posted $5.19 EPS. research analysts forecast that Biogen Inc. will post 22.03 EPS for the current fiscal year.

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A number of brokerages have weighed in on BIIB. Vetr lowered Biogen from a “buy” rating to a “hold” rating and set a $298.30 price objective on the stock. in a report on Wednesday, July 26th. Goldman Sachs Group, Inc. (The) upgraded Biogen from a “buy” rating to a “conviction-buy” rating and set a $338.00 price objective on the stock in a report on Wednesday, August 16th. BMO Capital Markets restated a “hold” rating and issued a $318.00 price objective on shares of Biogen in a report on Tuesday, July 18th. Leerink Swann restated a “market perform” rating and issued a $338.00 price objective (up previously from $304.00) on shares of Biogen in a report on Wednesday, July 26th. Finally, BidaskClub upgraded Biogen from a “hold” rating to a “buy” rating in a report on Friday, August 4th. Twelve equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $341.89.

About Biogen

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).

Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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