Huntington National Bank lowered its stake in Biogen Inc. (NASDAQ:BIIB) by 2.2% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 2,940 shares of the biotechnology company’s stock after selling 67 shares during the period. Huntington National Bank’s holdings in Biogen were worth $798,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Dillon & Associates Inc. boosted its position in shares of Biogen by 0.3% in the first quarter. Dillon & Associates Inc. now owns 1,785 shares of the biotechnology company’s stock valued at $487,000 after buying an additional 5 shares during the last quarter. Beacon Trust Co. boosted its position in shares of Biogen by 0.5% in the first quarter. Beacon Trust Co. now owns 1,135 shares of the biotechnology company’s stock valued at $328,000 after buying an additional 6 shares during the last quarter. Guardian Life Insurance Co. of America boosted its position in shares of Biogen by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 839 shares of the biotechnology company’s stock valued at $229,000 after buying an additional 6 shares during the last quarter. Trust Co. of Vermont boosted its position in shares of Biogen by 0.3% in the first quarter. Trust Co. of Vermont now owns 2,412 shares of the biotechnology company’s stock valued at $660,000 after buying an additional 7 shares during the last quarter. Finally, Buckingham Capital Management Inc. boosted its position in shares of Biogen by 0.3% in the first quarter. Buckingham Capital Management Inc. now owns 2,452 shares of the biotechnology company’s stock valued at $670,000 after buying an additional 8 shares during the last quarter. Institutional investors and hedge funds own 88.75% of the company’s stock.

Biogen Inc. (NASDAQ BIIB) traded up 0.48% during midday trading on Friday, reaching $287.46. 294,116 shares of the company’s stock traded hands. The stock has a market cap of $60.78 billion, a PE ratio of 18.86 and a beta of 0.79. The stock’s 50 day moving average price is $276.09 and its 200-day moving average price is $273.47. Biogen Inc. has a one year low of $244.28 and a one year high of $304.23.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Tuesday, July 25th. The biotechnology company reported $5.04 earnings per share for the quarter, beating the Zacks’ consensus estimate of $4.36 by $0.68. Biogen had a return on equity of 37.42% and a net margin of 28.10%. The firm had revenue of $3.08 billion for the quarter, compared to analysts’ expectations of $2.81 billion. During the same period in the previous year, the firm earned $5.21 EPS. The business’s quarterly revenue was up 6.4% on a year-over-year basis. Equities analysts predict that Biogen Inc. will post $21.44 earnings per share for the current year.

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Several brokerages recently commented on BIIB. Morgan Stanley restated an “equal weight” rating and set a $307.00 target price on shares of Biogen in a report on Wednesday, June 14th. UBS AG upgraded shares of Biogen from a “sell” rating to a “neutral” rating and increased their target price for the stock from $262.00 to $270.00 in a report on Monday, June 19th. Leerink Swann restated a “market perform” rating and set a $338.00 target price (up previously from $304.00) on shares of Biogen in a report on Wednesday, July 26th. Vetr cut shares of Biogen from a “buy” rating to a “hold” rating and set a $298.30 target price for the company. in a report on Wednesday, July 26th. Finally, Sanford C. Bernstein reiterated an “outperform” rating and issued a $310.00 price target on shares of Biogen in a research note on Tuesday, April 25th. Twelve research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $329.74.

In related news, EVP Susan H. Alexander sold 4,974 shares of the business’s stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $290.01, for a total value of $1,442,509.74. Following the transaction, the executive vice president now directly owns 22,258 shares of the company’s stock, valued at approximately $6,455,042.58. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Susan H. Alexander sold 7,758 shares of the business’s stock in a transaction that occurred on Wednesday, July 19th. The stock was sold at an average price of $285.00, for a total value of $2,211,030.00. Following the completion of the transaction, the executive vice president now directly owns 27,232 shares in the company, valued at $7,761,120. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 13,816 shares of company stock worth $3,931,380. Insiders own 0.32% of the company’s stock.

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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