Xact Kapitalforvaltning AB lessened its stake in shares of Biogen Inc (NASDAQ:BIIB) by 8.7% during the third quarter, HoldingsChannel.com reports. The fund owned 41,865 shares of the biotechnology company’s stock after selling 3,973 shares during the period. Biogen comprises 0.7% of Xact Kapitalforvaltning AB’s investment portfolio, making the stock its 29th largest position. Xact Kapitalforvaltning AB’s holdings in Biogen were worth $14,791,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Rainier Group Investment Advisory LLC bought a new position in Biogen during the 1st quarter worth $100,000. NEXT Financial Group Inc bought a new position in Biogen during the 3rd quarter worth $133,000. Adviser Investments LLC boosted its holdings in shares of Biogen by 745.7% in the 2nd quarter. Adviser Investments LLC now owns 389 shares of the biotechnology company’s stock valued at $113,000 after purchasing an additional 343 shares in the last quarter. Kaizen Advisory LLC boosted its holdings in shares of Biogen by 145.8% in the 2nd quarter. Kaizen Advisory LLC now owns 499 shares of the biotechnology company’s stock valued at $145,000 after purchasing an additional 296 shares in the last quarter. Finally, Gs Investments Inc. acquired a new stake in shares of Biogen in the 2nd quarter valued at $145,000. Hedge funds and other institutional investors own 87.55% of the company’s stock.

Shares of NASDAQ BIIB traded down $5.40 during mid-day trading on Friday, hitting $324.75. 9,838 shares of the stock traded hands, compared to its average volume of 1,289,669. The company has a quick ratio of 2.06, a current ratio of 2.36 and a debt-to-equity ratio of 0.48. Biogen Inc has a twelve month low of $249.17 and a twelve month high of $388.67. The company has a market cap of $68.13 billion, a price-to-earnings ratio of 14.91, a price-to-earnings-growth ratio of 1.31 and a beta of 0.86.

Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Tuesday, July 24th. The biotechnology company reported $5.80 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $5.22 by $0.58. Biogen had a return on equity of 38.17% and a net margin of 23.06%. The company had revenue of $3.36 billion for the quarter, compared to the consensus estimate of $3.25 billion. During the same quarter last year, the business posted $5.04 EPS. Biogen’s revenue for the quarter was up 9.1% on a year-over-year basis. On average, research analysts anticipate that Biogen Inc will post 25.31 earnings per share for the current fiscal year.

In related news, EVP Michael D. Ehlers sold 1,000 shares of the firm’s stock in a transaction on Wednesday, September 26th. The stock was sold at an average price of $350.00, for a total transaction of $350,000.00. Following the sale, the executive vice president now owns 4,281 shares of the company’s stock, valued at approximately $1,498,350. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.29% of the company’s stock.

A number of equities research analysts have weighed in on the company. Citigroup reduced their target price on Biogen from $483.00 to $470.00 and set a “buy” rating on the stock in a report on Monday, October 8th. Mizuho set a $423.00 target price on Biogen and gave the company a “buy” rating in a report on Friday, June 29th. Nomura reaffirmed a “buy” rating and issued a $420.00 target price on shares of Biogen in a report on Friday, July 6th. Barclays raised their target price on Biogen from $295.00 to $320.00 and gave the company an “equal weight” rating in a report on Wednesday, July 25th. Finally, BidaskClub downgraded Biogen from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 29th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and twenty-one have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $382.89.

Biogen Company Profile

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

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Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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