Creative Planning Has $6.09 Million Stock Holdings in Biogen Inc (NASDAQ:BIIB)

Creative Planning lessened its stake in Biogen Inc (NASDAQ:BIIB) by 5.0% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 26,143 shares of the biotechnology company’s stock after selling 1,372 shares during the quarter. Creative Planning’s holdings in Biogen were worth $6,087,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in BIIB. Yorktown Management & Research Co Inc bought a new stake in shares of Biogen during the 3rd quarter worth $279,000. IFM Investors Pty Ltd boosted its holdings in shares of Biogen by 49.5% during the 3rd quarter. IFM Investors Pty Ltd now owns 21,184 shares of the biotechnology company’s stock worth $4,932,000 after buying an additional 7,013 shares during the period. Wedge Capital Management L L P NC boosted its holdings in shares of Biogen by 9.1% during the 3rd quarter. Wedge Capital Management L L P NC now owns 158,830 shares of the biotechnology company’s stock worth $36,979,000 after buying an additional 13,231 shares during the period. Sandy Spring Bank boosted its holdings in shares of Biogen by 43.5% during the 3rd quarter. Sandy Spring Bank now owns 165 shares of the biotechnology company’s stock worth $39,000 after buying an additional 50 shares during the period. Finally, Wright Investors Service Inc. boosted its holdings in shares of Biogen by 65.2% during the 3rd quarter. Wright Investors Service Inc. now owns 3,647 shares of the biotechnology company’s stock worth $849,000 after buying an additional 1,439 shares during the period. Hedge funds and other institutional investors own 88.52% of the company’s stock.

Shares of Biogen stock traded up $3.86 during mid-day trading on Friday, reaching $290.73. 42,174 shares of the stock were exchanged, compared to its average volume of 3,254,307. The company has a market cap of $52.72 billion, a price-to-earnings ratio of 11.11, a price-to-earnings-growth ratio of 1.58 and a beta of 1.07. The company has a current ratio of 1.91, a quick ratio of 1.74 and a debt-to-equity ratio of 0.35. The firm has a 50-day simple moving average of $249.98 and a 200 day simple moving average of $235.84. Biogen Inc has a fifty-two week low of $215.77 and a fifty-two week high of $344.00.

Biogen (NASDAQ:BIIB) last announced its earnings results on Tuesday, October 22nd. The biotechnology company reported $9.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.27 by $0.90. The business had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.53 billion. Biogen had a net margin of 37.91% and a return on equity of 46.14%. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter last year, the company posted $7.40 EPS. On average, research analysts predict that Biogen Inc will post 33.19 EPS for the current fiscal year.

A number of analysts have weighed in on BIIB shares. Jefferies Financial Group increased their price target on shares of Biogen from $255.00 to $310.00 and gave the company a “hold” rating in a report on Tuesday, October 22nd. TheStreet raised shares of Biogen from a “c+” rating to a “b” rating in a report on Tuesday, October 29th. Stifel Nicolaus increased their price target on shares of Biogen from $236.00 to $296.00 and gave the company a “hold” rating in a report on Tuesday, October 22nd. Canaccord Genuity increased their price target on shares of Biogen from $285.00 to $305.00 and gave the company a “hold” rating in a report on Wednesday, October 23rd. Finally, Standpoint Research downgraded shares of Biogen from a “buy” rating to a “hold” rating in a report on Friday, November 1st. Five research analysts have rated the stock with a sell rating, twenty have assigned a hold rating and nine have assigned a buy rating to the stock. Biogen presently has an average rating of “Hold” and an average price target of $288.33.

Biogen Company 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.

Recommended Story: Inverted Yield Curve

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