Factory Mutual Insurance Co. Has $7.38 Million Stake in Biogen Inc. (NASDAQ:BIIB)

Factory Mutual Insurance Co. reduced its holdings in Biogen Inc. (NASDAQ:BIIBGet Rating) by 11.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,800 shares of the biotechnology company’s stock after selling 4,565 shares during the quarter. Factory Mutual Insurance Co.’s holdings in Biogen were worth $7,379,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in BIIB. Van ECK Associates Corp grew its holdings in shares of Biogen by 24.8% during the fourth quarter. Van ECK Associates Corp now owns 798,929 shares of the biotechnology company’s stock worth $191,679,000 after purchasing an additional 158,854 shares during the last quarter. Brown Advisory Inc. grew its holdings in Biogen by 259.1% during the 4th quarter. Brown Advisory Inc. now owns 199,326 shares of the biotechnology company’s stock worth $47,823,000 after acquiring an additional 143,819 shares during the last quarter. Man Group plc increased its position in Biogen by 385.6% in the 3rd quarter. Man Group plc now owns 176,439 shares of the biotechnology company’s stock valued at $49,930,000 after acquiring an additional 140,104 shares in the last quarter. UBS Asset Management Americas Inc. raised its stake in shares of Biogen by 9.4% in the third quarter. UBS Asset Management Americas Inc. now owns 1,244,986 shares of the biotechnology company’s stock worth $352,319,000 after acquiring an additional 106,513 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of Biogen by 106.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 203,982 shares of the biotechnology company’s stock worth $57,725,000 after purchasing an additional 104,969 shares in the last quarter. Institutional investors and hedge funds own 83.92% of the company’s stock.

Several research analysts have issued reports on BIIB shares. BMO Capital Markets downgraded Biogen from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $260.00 to $238.00 in a report on Friday, February 4th. Stifel Nicolaus cut Biogen from a “buy” rating to a “hold” rating and decreased their price target for the company from $304.00 to $223.00 in a report on Tuesday, March 8th. Cowen dropped their price objective on Biogen from $375.00 to $285.00 and set an “outperform” rating for the company in a report on Friday, February 4th. Bank of America reduced their target price on shares of Biogen from $230.00 to $225.00 and set a “neutral” rating on the stock in a research note on Monday, March 28th. Finally, Wells Fargo & Company raised shares of Biogen from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $235.00 to $265.00 in a research note on Monday, April 18th. Seventeen analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $284.47.

Shares of BIIB traded up $2.32 during mid-day trading on Tuesday, hitting $200.70. 10,196 shares of the company’s stock were exchanged, compared to its average volume of 1,262,620. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.01 and a quick ratio of 1.70. Biogen Inc. has a 52 week low of $187.16 and a 52 week high of $468.55. The company has a market cap of $29.39 billion, a PE ratio of 20.37, a P/E/G ratio of 1.24 and a beta of 0.42. The company has a 50-day simple moving average of $207.07 and a 200 day simple moving average of $224.84.

Biogen (NASDAQ:BIIBGet Rating) last released its earnings results on Tuesday, May 3rd. The biotechnology company reported $3.62 earnings per share for the quarter, missing analysts’ consensus estimates of $4.41 by ($0.79). Biogen had a net margin of 13.40% and a return on equity of 23.46%. The business had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.50 billion. During the same period last year, the business posted $5.34 EPS. The firm’s revenue for the quarter was down 6.1% on a year-over-year basis. On average, analysts anticipate that Biogen Inc. will post 15.43 earnings per share for the current year.

Biogen Profile (Get Rating)

Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases. The company offers TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for multiple sclerosis (MS); SPINRAZA for spinal muscular atrophy; and FUMADERM to treat plaque psoriasis.

Further Reading

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Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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