Hudson Canyon Investment Counselors LLC increased its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 12.8% during the second quarter, Holdings Channel reports. The firm owned 5,522 shares of the biotechnology company’s stock after buying an additional 625 shares during the period. Hudson Canyon Investment Counselors LLC’s holdings in Biogen were worth $1,335,000 as of its most recent filing with the SEC.
Several other institutional investors also recently made changes to their positions in the stock. Strs Ohio boosted its position in shares of Biogen by 10.6% in the second quarter. Strs Ohio now owns 303,272 shares of the biotechnology company’s stock valued at $73,337,000 after buying an additional 29,114 shares during the period. Boston Advisors LLC boosted its position in shares of Biogen by 2,223.4% in the second quarter. Boston Advisors LLC now owns 127,347 shares of the biotechnology company’s stock valued at $30,795,000 after buying an additional 121,866 shares during the period. Artemis Investment Management LLP boosted its position in shares of Biogen by 203.9% in the second quarter. Artemis Investment Management LLP now owns 55,166 shares of the biotechnology company’s stock valued at $13,342,000 after buying an additional 37,015 shares during the period. Nuveen Asset Management LLC boosted its position in shares of Biogen by 101.9% in the first quarter. Nuveen Asset Management LLC now owns 101,785 shares of the biotechnology company’s stock valued at $26,497,000 after buying an additional 51,375 shares during the period. Finally, Renaissance Technologies LLC bought a new position in shares of Biogen during the first quarter valued at $33,233,000. Institutional investors own 86.21% of the company’s stock.
Biogen Inc. (NASDAQ:BIIB) traded down 0.46% during trading on Monday, reaching $311.59. The company had a trading volume of 1,001,168 shares. The stock has a 50 day moving average of $309.17 and a 200-day moving average of $277.62. The stock has a market capitalization of $68.28 billion, a P/E ratio of 18.20 and a beta of 0.95. Biogen Inc. has a 12-month low of $223.02 and a 12-month high of $333.65.
Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Thursday, July 21st. The biotechnology company reported $5.21 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $4.69 by $0.52. The business earned $2.89 billion during the quarter, compared to the consensus estimate of $2.79 billion. Biogen had a net margin of 33.97% and a return on equity of 40.59%. The firm’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same quarter last year, the firm earned $4.22 earnings per share. On average, analysts forecast that Biogen Inc. will post $20.10 earnings per share for the current fiscal year.
Several equities research analysts recently issued reports on the company. Vetr lowered Biogen from a “hold” rating to a “sell” rating and set a $265.77 price objective for the company. in a research note on Monday, July 25th. BMO Capital Markets lifted their price objective on Biogen from $286.00 to $304.00 and gave the company a “market perform” rating in a research note on Monday, August 1st. Piper Jaffray Cos. reissued a “neutral” rating on shares of Biogen in a research note on Wednesday, August 3rd. Credit Suisse Group AG set a $322.00 price objective on Biogen and gave the company a “hold” rating in a research note on Sunday, September 18th. Finally, Robert W. Baird reissued a “positive” rating and set a $284.00 price objective (up previously from $268.00) on shares of Biogen in a research note on Monday, August 1st. Ten investment 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. Biogen presently has an average rating of “Buy” and an average price target of $347.39.
In other news, Director Caroline Dorsa sold 27,570 shares of the firm’s 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 transaction, the director now directly owns 19,663 shares of the company’s stock, valued at $6,174,182. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO George A. Scangos sold 157 shares of the firm’s stock in a transaction that occurred on Thursday, July 21st. The stock was sold at an average price of $280.00, for a total transaction of $43,960.00. Following the transaction, the chief executive officer now directly owns 54,779 shares in the company, valued at $15,338,120. The disclosure for this sale can be found here. 0.32% of the stock is currently owned by company insiders.
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.
Want to see what other hedge funds are holding BIIB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Biogen Inc. (NASDAQ:BIIB).
Receive News & Ratings for Biogen Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Biogen Inc. and related companies with MarketBeat.com's FREE daily email newsletter.