Biogen Inc (BIIB) Shares Bought by Bank of Montreal Can
Bank of Montreal Can raised its stake in Biogen Inc (NASDAQ:BIIB) by 21.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 246,846 shares of the biotechnology company’s stock after buying an additional 43,465 shares during the period. Bank of Montreal Can’s holdings in Biogen were worth $78,638,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Ipswich Investment Management Co. Inc. increased its stake in shares of Biogen by 6.2% during the 4th quarter. Ipswich Investment Management Co. Inc. now owns 5,936 shares of the biotechnology company’s stock worth $1,891,000 after purchasing an additional 346 shares in the last quarter. Davis R M Inc. increased its stake in shares of Biogen by 20.3% during the 4th quarter. Davis R M Inc. now owns 1,126 shares of the biotechnology company’s stock worth $359,000 after purchasing an additional 190 shares in the last quarter. Private Trust Co. NA increased its stake in shares of Biogen by 63.4% during the 4th quarter. Private Trust Co. NA now owns 1,299 shares of the biotechnology company’s stock worth $413,000 after purchasing an additional 504 shares in the last quarter. Legacy Private Trust Co. increased its stake in shares of Biogen by 134.6% during the 4th quarter. Legacy Private Trust Co. now owns 5,202 shares of the biotechnology company’s stock worth $1,657,000 after purchasing an additional 2,985 shares in the last quarter. Finally, Factory Mutual Insurance Co. increased its stake in shares of Biogen by 3.5% during the 4th quarter. Factory Mutual Insurance Co. now owns 181,000 shares of the biotechnology company’s stock worth $57,660,000 after purchasing an additional 6,100 shares in the last quarter. 88.14% of the stock is owned by institutional investors.
Biogen Inc (BIIB) opened at $344.44 on Friday. The firm has a market cap of $72,840.00, a price-to-earnings ratio of 21.12, a price-to-earnings-growth ratio of 1.92 and a beta of 0.73. Biogen Inc has a 1-year low of $244.28 and a 1-year high of $348.84. The company has a quick ratio of 1.90, a current ratio of 2.19 and a debt-to-equity ratio of 0.46.
Biogen (NASDAQ:BIIB) last announced its quarterly earnings results on Tuesday, October 24th. The biotechnology company reported $6.31 earnings per share for the quarter, beating the Zacks’ consensus estimate of $5.70 by $0.61. The company had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.05 billion. Biogen had a net margin of 29.44% and a return on equity of 38.51%. Biogen’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same quarter last year, the business earned $5.19 EPS. equities research analysts expect that Biogen Inc will post 21.99 earnings per share for the current year.
A number of brokerages have recently weighed in on BIIB. Mizuho reissued a “buy” rating on shares of Biogen in a research note on Thursday. SunTrust Banks restated a “buy” rating and set a $354.00 target price on shares of Biogen in a research report on Tuesday, October 24th. Raymond James Financial lowered shares of Biogen from a “strong-buy” rating to a “market perform” rating and raised their target price for the stock from $244.28 to $319.00 in a research report on Thursday, September 21st. HC Wainwright restated a “buy” rating and set a $340.00 target price on shares of Biogen in a research report on Wednesday, October 25th. Finally, Cantor Fitzgerald restated a “hold” rating and set a $279.00 target price on shares of Biogen in a research report on Tuesday, October 24th. Nine investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $353.75.
In related news, Director Alexander J. Denner purchased 30,000 shares of the firm’s stock in a transaction on Wednesday, November 29th. The shares were bought at an average price of $317.36 per share, for a total transaction of $9,520,800.00. Following the acquisition, the director now directly owns 10,029 shares in the company, valued at $3,182,803.44. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert W. Pangia sold 5,832 shares of Biogen stock in a transaction on Tuesday, January 9th. The shares were sold at an average price of $329.65, for a total transaction of $1,922,518.80. Following the completion of the transaction, the director now owns 23,539 shares in the company, valued at approximately $7,759,631.35. The disclosure for this sale can be found here. In the last quarter, insiders acquired 31,560 shares of company stock worth $10,020,858. 0.25% of the stock is owned by company insiders.
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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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