Sumitomo Mitsui DS Asset Management Company Ltd Sells 80 Shares of Biogen Inc. (NASDAQ:BIIB)

Sumitomo Mitsui DS Asset Management Company Ltd lessened its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 0.4% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 17,753 shares of the biotechnology company’s stock after selling 80 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Biogen were worth $4,594,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Stratos Wealth Partners LTD. increased its position in Biogen by 1.1% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 4,032 shares of the biotechnology company’s stock valued at $1,036,000 after acquiring an additional 42 shares during the period. Sequoia Financial Advisors LLC raised its holdings in Biogen by 2.3% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 2,043 shares of the biotechnology company’s stock worth $525,000 after purchasing an additional 45 shares during the last quarter. PAX Financial Group LLC lifted its position in shares of Biogen by 2.9% in the 3rd quarter. PAX Financial Group LLC now owns 1,577 shares of the biotechnology company’s stock worth $405,000 after purchasing an additional 45 shares during the period. Cary Street Partners Investment Advisory LLC increased its position in shares of Biogen by 2.4% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 1,955 shares of the biotechnology company’s stock worth $502,000 after buying an additional 45 shares during the period. Finally, Ballentine Partners LLC raised its stake in Biogen by 3.2% during the third quarter. Ballentine Partners LLC now owns 1,528 shares of the biotechnology company’s stock worth $393,000 after buying an additional 48 shares during the last quarter. 87.93% of the stock is currently owned by institutional investors.

Biogen Stock Performance

NASDAQ BIIB opened at $194.11 on Tuesday. The company’s 50 day simple moving average is $214.22 and its two-hundred day simple moving average is $235.11. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.00 and a quick ratio of 1.26. Biogen Inc. has a 1 year low of $189.44 and a 1 year high of $319.76. The stock has a market capitalization of $28.22 billion, a PE ratio of 24.32, a P/E/G ratio of 1.85 and a beta of -0.02.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings data on Tuesday, February 13th. The biotechnology company reported $2.95 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.18 by ($0.23). Biogen had a return on equity of 14.91% and a net margin of 11.81%. The business had revenue of $2.39 billion during the quarter, compared to analysts’ expectations of $2.47 billion. During the same quarter last year, the business posted $4.05 EPS. Analysts predict that Biogen Inc. will post 15.48 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have weighed in on BIIB. Bank Of America (Bofa) decreased their price target on Biogen from $290.00 to $280.00 and set a “neutral” rating for the company in a report on Monday, February 12th. Wedbush cut their price target on Biogen from $245.00 to $213.00 and set a “neutral” rating on the stock in a report on Wednesday, April 17th. William Blair reiterated an “outperform” rating on shares of Biogen in a research report on Monday, April 1st. StockNews.com downgraded shares of Biogen from a “buy” rating to a “hold” rating in a research note on Tuesday, February 20th. Finally, Robert W. Baird decreased their target price on Biogen from $333.00 to $316.00 and set an “outperform” rating for the company in a research report on Wednesday, February 14th. Ten analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $295.58.

Insider Activity at Biogen

In other news, insider Priya Singhal sold 419 shares of the firm’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $239.45, for a total transaction of $100,329.55. Following the sale, the insider now owns 4,516 shares in the company, valued at approximately $1,081,356.20. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Biogen news, Director Eric K. Rowinsky purchased 455 shares of Biogen stock in a transaction on Thursday, February 15th. The shares were acquired at an average cost of $222.54 per share, for a total transaction of $101,255.70. Following the completion of the transaction, the director now directly owns 20,629 shares of the company’s stock, valued at $4,590,777.66. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, insider Priya Singhal sold 419 shares of the company’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $239.45, for a total transaction of $100,329.55. Following the completion of the sale, the insider now directly owns 4,516 shares of the company’s stock, valued at approximately $1,081,356.20. The disclosure for this sale can be found here. Insiders have sold 882 shares of company stock valued at $202,030 over the last three months. 0.60% of the stock is owned by corporate insiders.

About Biogen

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.