AIA Group Ltd Sells 141 Shares of Biogen Inc. (NASDAQ:BIIB)

AIA Group Ltd decreased its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 8.3% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,563 shares of the biotechnology company’s stock after selling 141 shares during the period. AIA Group Ltd’s holdings in Biogen were worth $404,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Guardian Investment Management raised its holdings in shares of Biogen by 1.0% in the 4th quarter. Guardian Investment Management now owns 10,165 shares of the biotechnology company’s stock valued at $2,630,000 after purchasing an additional 100 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt raised its holdings in shares of Biogen by 157.5% in the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 430 shares of the biotechnology company’s stock valued at $111,000 after purchasing an additional 263 shares in the last quarter. Everence Capital Management Inc. raised its holdings in shares of Biogen by 26.6% in the 4th quarter. Everence Capital Management Inc. now owns 5,000 shares of the biotechnology company’s stock valued at $1,294,000 after purchasing an additional 1,050 shares in the last quarter. DGS Capital Management LLC raised its holdings in shares of Biogen by 4.2% in the 4th quarter. DGS Capital Management LLC now owns 1,265 shares of the biotechnology company’s stock valued at $327,000 after purchasing an additional 51 shares in the last quarter. Finally, SVB Wealth LLC raised its holdings in shares of Biogen by 48.0% in the 4th quarter. SVB Wealth LLC now owns 1,174 shares of the biotechnology company’s stock valued at $304,000 after purchasing an additional 381 shares in the last quarter. Institutional investors own 87.93% of the company’s stock.

Biogen Stock Performance

BIIB opened at $194.38 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.00 and a quick ratio of 1.26. The firm has a fifty day moving average price of $215.23 and a 200 day moving average price of $235.83. Biogen Inc. has a 1 year low of $189.44 and a 1 year high of $319.76. The stock has a market cap of $28.26 billion, a P/E ratio of 24.36, a P/E/G ratio of 1.81 and a beta of -0.02.

Biogen (NASDAQ:BIIB) last posted its earnings results on Tuesday, February 13th. The biotechnology company reported $2.95 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.18 by ($0.23). Biogen had a net margin of 11.81% and a return on equity of 14.91%. The firm had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.47 billion. During the same quarter in the prior year, the firm earned $4.05 earnings per share. Equities research analysts anticipate that Biogen Inc. will post 15.47 earnings per share for the current year.

Analysts Set New Price Targets

BIIB has been the topic of a number of analyst reports. Wedbush cut their price objective on shares of Biogen from $245.00 to $213.00 and set a “neutral” rating on the stock in a research report on Wednesday. JPMorgan Chase & Co. cut their price objective on shares of Biogen from $270.00 to $240.00 and set a “neutral” rating on the stock in a research report on Thursday, April 11th. Wells Fargo & Company downgraded shares of Biogen from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $315.00 to $240.00 in a research report on Wednesday, February 14th. BMO Capital Markets cut their price objective on shares of Biogen from $295.00 to $285.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 14th. Finally, BTIG Research reissued a “neutral” rating on shares of Biogen in a research report on Sunday, January 7th. Ten research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat.com, Biogen presently has a consensus rating of “Moderate Buy” and a consensus target price of $295.58.

Insider Activity at Biogen

In related news, insider Priya Singhal sold 419 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $239.45, for a total value of $100,329.55. Following the completion of the transaction, the insider now directly owns 4,516 shares in the company, valued at approximately $1,081,356.20. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Eric K. Rowinsky acquired 455 shares of Biogen stock in a transaction on Thursday, February 15th. The stock was bought at an average cost of $222.54 per share, for a total transaction of $101,255.70. Following the completion of the transaction, the director now owns 20,629 shares of the company’s stock, valued at approximately $4,590,777.66. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Priya Singhal sold 419 shares of the company’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $239.45, for a total transaction of $100,329.55. Following the transaction, the insider now owns 4,516 shares of the company’s stock, valued at $1,081,356.20. The disclosure for this sale can be found here. Insiders sold a total of 882 shares of company stock worth $202,030 in the last three months. Company insiders own 0.60% of the company’s stock.

About Biogen

Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases in the United States, Europe, Germany, Asia, and internationally. The company provides TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for multiple sclerosis (MS); SPINRAZA for spinal muscular atrophy; ADUHELM to treat Alzheimer's disease; FUMADERM to treat plaque psoriasis; BENEPALI, an etanercept biosimilar referencing ENBREL; IMRALDI, an adalimumab biosimilar referencing HUMIRA; FLIXABI, an infliximab biosimilar referencing REMICADE; and BYOOVIZ, a ranibizumab biosimilar referencing LUCENTIS.