State Board of Administration of Florida Retirement System Takes $8.68 Million Position in Bioverativ Inc (BIVV)
State Board of Administration of Florida Retirement System acquired a new stake in Bioverativ Inc (NASDAQ:BIVV) in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 152,037 shares of the biotechnology company’s stock, valued at approximately $8,677,000. State Board of Administration of Florida Retirement System owned about 0.14% of Bioverativ as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently made changes to their positions in BIVV. Frontier Capital Management Co. LLC bought a new stake in Bioverativ in the third quarter valued at approximately $54,653,000. First Trust Advisors LP bought a new stake in Bioverativ in the third quarter valued at approximately $38,238,000. First Quadrant L P CA bought a new stake in Bioverativ in the third quarter valued at approximately $19,310,000. Peregrine Capital Management LLC bought a new stake in Bioverativ in the third quarter valued at approximately $17,643,000. Finally, Nationwide Fund Advisors bought a new stake in Bioverativ in the third quarter valued at approximately $17,617,000. Hedge funds and other institutional investors own 95.16% of the company’s stock.
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Shares of Bioverativ Inc (NASDAQ BIVV) opened at $53.66 on Monday. Bioverativ Inc has a 12 month low of $40.00 and a 12 month high of $64.41.
Bioverativ (NASDAQ:BIVV) last issued its quarterly earnings results on Thursday, October 26th. The biotechnology company reported $0.80 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.25. The company had revenue of $291.60 million for the quarter, compared to analysts’ expectations of $285.45 million. Bioverativ had a return on equity of 69.03% and a net margin of 40.44%. The firm’s revenue was up 27.2% on a year-over-year basis. research analysts anticipate that Bioverativ Inc will post 2.45 EPS for the current fiscal year.
BIVV has been the subject of several recent research reports. Zacks Investment Research upgraded Bioverativ from a “hold” rating to a “strong-buy” rating and set a $73.00 price objective for the company in a research report on Tuesday, July 25th. Cowen and Company reiterated a “buy” rating and issued a $80.00 price objective on shares of Bioverativ in a research report on Friday, August 4th. Jefferies Group LLC reissued a “buy” rating and set a $70.00 target price (up from $67.00) on shares of Bioverativ in a research note on Wednesday, August 9th. Evercore ISI started coverage on Bioverativ in a research note on Wednesday, August 16th. They set an “in-line” rating and a $58.00 target price on the stock. Finally, Royal Bank Of Canada started coverage on Bioverativ in a research note on Thursday, September 14th. They set a “sector perform” rating and a $59.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $61.73.
Bioverativ Company Profile
Bioverativ Inc (Bioverativ) is a biotechnology company. The Company is focused on the discovery, research, development and commercialization of therapies for the treatment of hemophilia and other blood disorders. It markets approximately two products, including ELOCTATE [Antihemophilic Factor (Recombinant), Fc Fusion Protein], and ALPROLIX [Coagulation Factor IX (Recombinant), Fc Fusion Protein], extended half-life clotting-factor therapies for the treatment of hemophilia A and hemophilia B, respectively.
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