Insider Selling: Steven H. Holtzman Sells 1,221 Shares of Biogen Idec Stock (BIIB)
Biogen Idec (NASDAQ:BIIB) EVP Steven H. Holtzman unloaded 1,221 shares of the stock on the open market in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $289.15, for a total value of $353,052.15. Following the transaction, the executive vice president now directly owns 5,749 shares of the company’s stock, valued at approximately $1,662,323. The sale was disclosed in a document filed with the SEC, which is available at this link.
Shares of Biogen Idec (NASDAQ:BIIB) traded down 0.33% on Tuesday, hitting $289.79. 1,088,963 shares of the company’s stock traded hands. Biogen Idec has a 52-week low of $194.66 and a 52-week high of $358.89. The stock’s 50-day moving average is $292.0 and its 200-day moving average is $295.9. The company has a market cap of $68.738 billion and a price-to-earnings ratio of 36.16.
Biogen Idec (NASDAQ:BIIB) last posted its quarterly earnings results on Wednesday, April 23rd. The company reported $2.47 EPS for the quarter, missing the Thomson Reuters consensus estimate of $2.56 by $0.09. The company had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.00 billion. During the same quarter in the prior year, the company posted $1.80 earnings per share. The company’s quarterly revenue was up 50.5% on a year-over-year basis. On average, analysts predict that Biogen Idec will post $11.50 earnings per share for the current fiscal year.
A number of analysts have recently weighed in on BIIB shares. Analysts at Zacks reiterated an “outperform” rating on shares of Biogen Idec in a research note on Thursday, May 15th. They now have a $356.00 price target on the stock. Separately, analysts at Jefferies Group reiterated a “buy” rating on shares of Biogen Idec in a research note on Monday, April 28th. They now have a $380.00 price target on the stock, down previously from $398.00. Five investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. Biogen Idec presently has a consensus rating of “Buy” and an average price target of $332.15.
Biogen Idec Inc (NASDAQ:BIIB) is a global biotechnology company.
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