Farmers & Merchants Investments Inc. Lowers Stock Holdings in Biogen Inc (NASDAQ:BIIB)

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Farmers & Merchants Investments Inc. trimmed its holdings in shares of Biogen Inc (NASDAQ:BIIB) by 8.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 7,456 shares of the biotechnology company’s stock after selling 730 shares during the period. Farmers & Merchants Investments Inc.’s holdings in Biogen were worth $1,736,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Marshall Wace LLP grew its stake in Biogen by 4.2% in the 1st quarter. Marshall Wace LLP now owns 11,906 shares of the biotechnology company’s stock worth $2,814,000 after acquiring an additional 485 shares in the last quarter. Thomasville National Bank grew its stake in Biogen by 4.5% in the 2nd quarter. Thomasville National Bank now owns 24,384 shares of the biotechnology company’s stock worth $5,703,000 after acquiring an additional 1,052 shares in the last quarter. Pensionfund DSM Netherlands grew its stake in Biogen by 20.4% in the 2nd quarter. Pensionfund DSM Netherlands now owns 11,200 shares of the biotechnology company’s stock worth $2,619,000 after acquiring an additional 1,900 shares in the last quarter. Pensionfund Sabic grew its stake in Biogen by 23.0% in the 2nd quarter. Pensionfund Sabic now owns 7,500 shares of the biotechnology company’s stock worth $1,754,000 after acquiring an additional 1,400 shares in the last quarter. Finally, Fulton Bank N.A. grew its stake in Biogen by 4.1% in the 2nd quarter. Fulton Bank N.A. now owns 1,199 shares of the biotechnology company’s stock worth $281,000 after acquiring an additional 47 shares in the last quarter. Hedge funds and other institutional investors own 86.31% of the company’s stock.

NASDAQ:BIIB opened at $220.06 on Monday. Biogen Inc has a 52 week low of $215.77 and a 52 week high of $344.00. The firm has a 50 day moving average of $228.31 and a 200 day moving average of $231.11. The company has a quick ratio of 2.22, a current ratio of 2.46 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $41.61 billion, a price-to-earnings ratio of 8.40, a PEG ratio of 1.22 and a beta of 1.02.

Biogen (NASDAQ:BIIB) last posted its earnings results on Tuesday, July 23rd. The biotechnology company reported $9.15 EPS for the quarter, beating the Zacks’ consensus estimate of $7.58 by $1.57. Biogen had a net margin of 37.62% and a return on equity of 44.89%. The company had revenue of $3.62 billion during the quarter, compared to analysts’ expectations of $3.48 billion. During the same quarter in the prior year, the company posted $5.80 earnings per share. Biogen’s revenue for the quarter was up 7.8% compared to the same quarter last year. As a group, analysts expect that Biogen Inc will post 32.38 EPS for the current year.

BIIB has been the topic of a number of research analyst reports. Oppenheimer set a $280.00 target price on shares of Biogen and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Canaccord Genuity upped their target price on shares of Biogen from $275.00 to $285.00 and gave the stock a “hold” rating in a research note on Wednesday, July 24th. ValuEngine upgraded shares of Biogen from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 2nd. Bank of America began coverage on shares of Biogen in a research note on Wednesday, October 16th. They set an “underperform” rating and a $200.00 price objective on the stock. Finally, Morgan Stanley increased their price objective on shares of Biogen from $211.00 to $212.00 and gave the company an “underweight” rating in a research note on Friday, October 11th. Five equities research analysts have rated the stock with a sell rating, twenty-one have given a hold rating and five have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $263.52.

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.

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Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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