Biogen Inc. (NASDAQ:BIIB) Shares Acquired by Toronto Dominion Bank

Toronto Dominion Bank increased its position in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) by 20.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 72,671 shares of the biotechnology company's stock after purchasing an additional 12,301 shares during the period. Toronto Dominion Bank's holdings in Biogen were worth $11,111,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Larson Financial Group LLC grew its position in Biogen by 640.9% in the 4th quarter. Larson Financial Group LLC now owns 163 shares of the biotechnology company's stock valued at $25,000 after acquiring an additional 141 shares in the last quarter. Lee Danner & Bass Inc. acquired a new position in shares of Biogen in the fourth quarter valued at approximately $25,000. Colonial Trust Co SC grew its holdings in shares of Biogen by 9,300.0% in the fourth quarter. Colonial Trust Co SC now owns 188 shares of the biotechnology company's stock valued at $29,000 after purchasing an additional 186 shares in the last quarter. OFI Invest Asset Management acquired a new position in shares of Biogen in the fourth quarter valued at approximately $32,000. Finally, SRS Capital Advisors Inc. acquired a new position in shares of Biogen in the fourth quarter valued at approximately $33,000. Institutional investors and hedge funds own 87.93% of the company's stock.

Biogen Stock Performance

Shares of BIIB stock traded up $1.35 during trading hours on Monday, hitting $131.14. The stock had a trading volume of 1,868,096 shares, compared to its average volume of 1,413,419. The firm has a market capitalization of $19.22 billion, a PE ratio of 11.72, a PEG ratio of 1.51 and a beta of 0.12. The stock's 50 day moving average is $123.21 and its 200 day moving average is $138.87. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.35 and a quick ratio of 0.90. Biogen Inc. has a twelve month low of $110.04 and a twelve month high of $238.00.

Biogen (NASDAQ:BIIB - Get Free Report) last announced its earnings results on Thursday, May 1st. The biotechnology company reported $3.02 earnings per share for the quarter, missing the consensus estimate of $3.26 by ($0.24). Biogen had a return on equity of 14.98% and a net margin of 16.87%. The business had revenue of $2.43 billion for the quarter, compared to analyst estimates of $2.25 billion. During the same quarter last year, the company posted $3.67 EPS. Biogen's quarterly revenue was up 6.2% on a year-over-year basis. As a group, research analysts forecast that Biogen Inc. will post 15.83 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on BIIB shares. Mizuho dropped their price target on shares of Biogen from $207.00 to $169.00 and set an "outperform" rating for the company in a research note on Wednesday, May 7th. Robert W. Baird lowered their target price on Biogen from $300.00 to $255.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. Royal Bank of Canada lowered their target price on Biogen from $217.00 to $205.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. Bank Of America (Bofa) lowered their price objective on Biogen from $178.00 to $163.00 and set a "neutral" rating for the company in a research report on Tuesday, February 11th. Finally, Hsbc Global Res downgraded Biogen from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 28th. Twenty investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, Biogen currently has an average rating of "Hold" and a consensus target price of $191.30.

Insiders Place Their Bets

In other news, Director Stephen A. Sherwin sold 8,760 shares of the firm's stock in a transaction on Friday, March 7th. The shares were sold at an average price of $150.02, for a total value of $1,314,175.20. Following the completion of the sale, the director now owns 11,318 shares in the company, valued at approximately $1,697,926.36. This trade represents a 43.63% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.16% of the stock is owned by 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.