Bridges Investment Management Inc. Has $6.69 Million Stake in Biogen Inc (BIIB)

Bridges Investment Management Inc. grew its holdings in shares of Biogen Inc (NASDAQ:BIIB) by 4.4% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 23,035 shares of the biotechnology company’s stock after buying an additional 974 shares during the quarter. Bridges Investment Management Inc.’s holdings in Biogen were worth $6,685,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Hugh Johnson Advisors LLC boosted its holdings in shares of Biogen by 2.4% in the second quarter. Hugh Johnson Advisors LLC now owns 6,092 shares of the biotechnology company’s stock valued at $1,768,000 after purchasing an additional 145 shares during the period. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Biogen by 2.8% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 5,332 shares of the biotechnology company’s stock valued at $1,548,000 after purchasing an additional 147 shares during the period. Greatmark Investment Partners Inc. boosted its holdings in shares of Biogen by 4.7% in the second quarter. Greatmark Investment Partners Inc. now owns 3,475 shares of the biotechnology company’s stock valued at $1,009,000 after purchasing an additional 155 shares during the period. Patton Albertson Miller Group LLC boosted its holdings in shares of Biogen by 4.0% in the second quarter. Patton Albertson Miller Group LLC now owns 4,453 shares of the biotechnology company’s stock valued at $1,292,000 after purchasing an additional 172 shares during the period. Finally, 6 Meridian boosted its holdings in shares of Biogen by 0.9% in the second quarter. 6 Meridian now owns 19,503 shares of the biotechnology company’s stock valued at $5,661,000 after purchasing an additional 176 shares during the period. 87.46% of the stock is currently owned by hedge funds and other institutional investors.

Biogen stock opened at $340.58 on Friday. The company has a quick ratio of 2.06, a current ratio of 2.36 and a debt-to-equity ratio of 0.48. The firm has a market cap of $68.03 billion, a price-to-earnings ratio of 15.62, a P/E/G ratio of 1.30 and a beta of 0.90. Biogen Inc has a twelve month low of $249.17 and a twelve month high of $388.67.

Biogen (NASDAQ:BIIB) last posted its earnings results on Tuesday, July 24th. The biotechnology company reported $5.80 earnings per share for the quarter, topping analysts’ consensus estimates of $5.22 by $0.58. The company had revenue of $3.36 billion during the quarter, compared to analyst estimates of $3.25 billion. Biogen had a return on equity of 38.17% and a net margin of 23.06%. Biogen’s revenue was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $5.04 earnings per share. analysts anticipate that Biogen Inc will post 25.34 earnings per share for the current fiscal year.

A number of brokerages recently issued reports on BIIB. BidaskClub lowered Biogen from a “buy” rating to a “hold” rating in a report on Tuesday, June 19th. Canaccord Genuity set a $335.00 price target on Biogen and gave the company a “buy” rating in a report on Friday, July 6th. HC Wainwright reiterated a “buy” rating on shares of Biogen in a report on Monday, July 9th. Nomura reiterated a “buy” rating and issued a $420.00 price target on shares of Biogen in a report on Friday, July 6th. Finally, Oppenheimer set a $400.00 price target on Biogen and gave the company a “buy” rating in a report on Sunday, July 8th. Nine equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $375.52.

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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