Mediolanum International Funds Ltd Reduces Stock Holdings in Biogen Inc. (NASDAQ:BIIB)

Mediolanum International Funds Ltd reduced its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 4.7% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,893 shares of the biotechnology company’s stock after selling 241 shares during the quarter. Mediolanum International Funds Ltd’s holdings in Biogen were worth $951,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Arlington Partners LLC raised its holdings in shares of Biogen by 34.3% during the 3rd quarter. Arlington Partners LLC now owns 19,214 shares of the biotechnology company’s stock valued at $3,724,000 after buying an additional 4,902 shares during the period. Duality Advisers LP purchased a new stake in shares of Biogen during the 1st quarter valued at about $1,290,000. Tocqueville Asset Management L.P. raised its holdings in shares of Biogen by 924.4% during the 1st quarter. Tocqueville Asset Management L.P. now owns 46,200 shares of the biotechnology company’s stock valued at $9,962,000 after buying an additional 41,690 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of Biogen by 0.9% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 386,482 shares of the biotechnology company’s stock valued at $83,337,000 after buying an additional 3,380 shares during the period. Finally, Cetera Investment Advisers raised its holdings in shares of Biogen by 235.1% during the 1st quarter. Cetera Investment Advisers now owns 14,860 shares of the biotechnology company’s stock valued at $3,204,000 after buying an additional 10,425 shares during the period. 87.93% of the stock is currently owned by hedge funds and other institutional investors.

Biogen Trading Down 1.2 %

NASDAQ:BIIB opened at $181.69 on Monday. Biogen Inc. has a 12-month low of $181.24 and a 12-month high of $268.30. The firm has a market capitalization of $26.46 billion, a P/E ratio of 22.88, a P/E/G ratio of 1.87 and a beta of -0.06. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.29 and a quick ratio of 1.48. The business has a 50 day simple moving average of $195.28 and a 200 day simple moving average of $210.21.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings results on Thursday, August 1st. The biotechnology company reported $5.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.00 by $1.28. Biogen had a return on equity of 15.71% and a net margin of 11.98%. The company had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.39 billion. During the same quarter in the previous year, the firm posted $4.02 EPS. The firm’s quarterly revenue was up .4% on a year-over-year basis. Equities research analysts predict that Biogen Inc. will post 16.14 EPS for the current year.

Analyst Ratings Changes

BIIB has been the topic of several analyst reports. BMO Capital Markets dropped their price objective on Biogen from $260.00 to $230.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. William Blair restated an “outperform” rating on shares of Biogen in a report on Wednesday, July 3rd. StockNews.com upgraded Biogen from a “buy” rating to a “strong-buy” rating in a report on Monday, September 2nd. Scotiabank dropped their price objective on Biogen from $275.00 to $244.00 and set a “sector outperform” rating on the stock in a report on Friday, August 2nd. Finally, Barclays dropped their price objective on Biogen from $200.00 to $190.00 and set an “equal weight” rating on the stock in a report on Friday, August 2nd. Nine equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Biogen presently has an average rating of “Moderate Buy” and an average target price of $271.39.

Insiders Place Their Bets

In other Biogen news, insider Priya Singhal sold 431 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $204.22, for a total transaction of $88,018.82. Following the completion of the transaction, the insider now owns 5,316 shares in the company, valued at approximately $1,085,633.52. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.16% of the stock is currently owned by insiders.

Biogen Company Profile

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.