Biogen Inc. (BIIB) Shares Bought by CENTRAL TRUST Co
CENTRAL TRUST Co increased its position in shares of Biogen Inc. (NASDAQ:BIIB) by 31.8% during the second quarter, Holdings Channel reports. The firm owned 4,352 shares of the biotechnology company’s stock after buying an additional 1,050 shares during the period. CENTRAL TRUST Co’s holdings in Biogen were worth $1,181,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently modified their holdings of BIIB. Wrapmanager Inc. boosted its position in shares of Biogen by 7.7% in the first quarter. Wrapmanager Inc. now owns 5,525 shares of the biotechnology company’s stock worth $1,511,000 after buying an additional 396 shares during the period. Savant Capital LLC boosted its position in shares of Biogen by 3.7% in the first quarter. Savant Capital LLC now owns 846 shares of the biotechnology company’s stock worth $231,000 after buying an additional 30 shares during the period. Vanguard Group Inc. boosted its position in shares of Biogen by 2.4% in the first quarter. Vanguard Group Inc. now owns 14,352,490 shares of the biotechnology company’s stock worth $3,924,258,000 after buying an additional 342,568 shares during the period. Karp Capital Management Corp bought a new position in shares of Biogen during the first quarter worth about $26,224,000. Finally, Pictet Asset Management Ltd. boosted its position in shares of Biogen by 2.4% in the first quarter. Pictet Asset Management Ltd. now owns 631,017 shares of the biotechnology company’s stock worth $172,533,000 after buying an additional 14,898 shares during the period. 88.38% of the stock is owned by institutional investors.
Biogen Inc. (BIIB) traded down 0.93% during trading on Friday, hitting $281.77. 814,072 shares of the company traded hands. The firm has a 50 day moving average of $283.10 and a 200 day moving average of $274.37. Biogen Inc. has a one year low of $244.28 and a one year high of $329.83. The firm has a market cap of $59.57 billion, a P/E ratio of 18.49 and a beta of 0.79.
Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Tuesday, July 25th. The biotechnology company reported $5.04 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $4.36 by $0.68. The firm had revenue of $3.08 billion for the quarter, compared to analyst estimates of $2.81 billion. Biogen had a net margin of 28.10% and a return on equity of 37.42%. The company’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $5.21 EPS. On average, analysts expect that Biogen Inc. will post $21.44 earnings per share for the current fiscal year.
A number of research analysts have issued reports on BIIB shares. Vetr raised shares of Biogen from a “buy” rating to a “strong-buy” rating and set a $311.67 target price for the company in a report on Tuesday, June 27th. Deutsche Bank AG initiated coverage on shares of Biogen in a report on Friday, June 23rd. They issued a “buy” rating and a $315.00 target price for the company. Cowen and Company reissued a “buy” rating and set a $338.00 price objective on shares of Biogen in a research note on Tuesday, April 25th. Barclays PLC reissued an “overweight” rating and set a $360.00 price objective (down from $380.00) on shares of Biogen in a research note on Sunday, April 23rd. Finally, Credit Suisse Group set a $300.00 price objective on shares of Biogen and gave the stock a “hold” rating in a research note on Friday, July 14th. Eleven analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have given a strong buy rating to the company. Biogen currently has an average rating of “Buy” and a consensus price target of $328.81.
In other Biogen news, EVP Susan H. Alexander sold 7,758 shares of the business’s stock in a transaction that occurred on Wednesday, July 19th. The shares were sold at an average price of $285.00, for a total value of $2,211,030.00. Following the completion of the sale, the executive vice president now directly owns 27,232 shares of the company’s stock, valued at $7,761,120. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Brian S. Posner sold 1,084 shares of the business’s stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $256.31, for a total transaction of $277,840.04. Following the completion of the sale, the director now directly owns 6,330 shares of the company’s stock, valued at $1,622,442.30. The disclosure for this sale can be found here. In the last quarter, insiders sold 13,816 shares of company stock worth $3,931,380. Company insiders own 0.32% of the company’s stock.
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).
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