QS Investors LLC Sells 5,079 Shares of Biogen Inc (BIIB)

QS Investors LLC trimmed its position in shares of Biogen Inc (NASDAQ:BIIB) by 13.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 33,389 shares of the biotechnology company’s stock after selling 5,079 shares during the period. QS Investors LLC’s holdings in Biogen were worth $10,048,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. boosted its holdings in Biogen by 0.4% in the fourth quarter. BlackRock Inc. now owns 16,568,963 shares of the biotechnology company’s stock valued at $4,985,931,000 after purchasing an additional 70,603 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its holdings in Biogen by 27,620.0% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 14,309,047 shares of the biotechnology company’s stock valued at $48,000 after purchasing an additional 14,257,427 shares in the last quarter. AQR Capital Management LLC boosted its holdings in Biogen by 6.5% in the third quarter. AQR Capital Management LLC now owns 3,024,037 shares of the biotechnology company’s stock valued at $1,068,422,000 after purchasing an additional 183,542 shares in the last quarter. Northern Trust Corp boosted its holdings in Biogen by 4.8% in the fourth quarter. Northern Trust Corp now owns 2,907,306 shares of the biotechnology company’s stock valued at $874,867,000 after purchasing an additional 133,137 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Biogen by 5.6% in the fourth quarter. Geode Capital Management LLC now owns 2,713,577 shares of the biotechnology company’s stock valued at $815,190,000 after acquiring an additional 144,464 shares during the period. Hedge funds and other institutional investors own 88.14% of the company’s stock.

In other news, Director Alexander J. Denner purchased 7,000 shares of the company’s stock in a transaction dated Friday, February 1st. The stock was acquired at an average price of $328.45 per share, for a total transaction of $2,299,150.00. Following the completion of the transaction, the director now directly owns 10,909 shares in the company, valued at approximately $3,583,061.05. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Alexander J. Denner purchased 30,000 shares of the company’s stock in a transaction dated Wednesday, January 30th. The stock was purchased at an average price of $324.86 per share, with a total value of $9,745,800.00. Following the transaction, the director now owns 10,909 shares of the company’s stock, valued at $3,543,897.74. The disclosure for this purchase can be found here. Corporate insiders own 0.29% of the company’s stock.

BIIB has been the subject of several research analyst reports. Oppenheimer set a $372.00 price objective on Biogen and gave the company a “buy” rating in a report on Friday, January 25th. Morgan Stanley increased their price objective on Biogen from $394.00 to $401.00 and gave the company an “overweight” rating in a report on Wednesday, December 19th. JPMorgan Chase & Co. reissued a “buy” rating on shares of Biogen in a report on Thursday, January 10th. Citigroup increased their price objective on Biogen from $372.00 to $380.00 and gave the company an “outperform” rating in a report on Wednesday, January 30th. Finally, ValuEngine raised Biogen from a “sell” rating to a “hold” rating in a report on Wednesday, January 2nd. Ten research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $370.28.

Shares of NASDAQ BIIB opened at $324.82 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.32 and a quick ratio of 2.04. Biogen Inc has a 1-year low of $249.17 and a 1-year high of $388.67. The firm has a market cap of $61.51 billion, a P/E ratio of 12.40, a P/E/G ratio of 1.18 and a beta of 1.09.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings results on Tuesday, January 29th. The biotechnology company reported $6.99 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $6.72 by $0.27. The firm had revenue of $3.53 billion during the quarter, compared to the consensus estimate of $3.39 billion. Biogen had a return on equity of 40.53% and a net margin of 32.94%. The company’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same period last year, the company earned $5.26 earnings per share. On average, sell-side analysts predict that Biogen Inc will post 28.68 earnings per share for the current fiscal year.

TRADEMARK VIOLATION WARNING: This piece was originally posted by American Banking News and is owned by of American Banking News. If you are viewing this piece on another domain, it was stolen and republished in violation of United States & international trademark & copyright law. The correct version of this piece can be accessed at https://www.americanbankingnews.com/2019/03/15/qs-investors-llc-sells-5079-shares-of-biogen-inc-biib.html.

Biogen Profile

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

Featured Story: Derivative

Want to see what other hedge funds are holding BIIB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Biogen Inc (NASDAQ:BIIB).

Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

Receive News & Ratings for Biogen Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Biogen and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply