Biogen Inc. (NASDAQ:BIIB) Shares Purchased by Motley Fool Asset Management LLC

Key Points

• Motley Fool Asset Management LLC increased its stake in Biogen Inc. by 64.7% during the 1st quarter, now holding 6,809 shares valued at approximately $932,000.
• The biotechnology company reported $5.47 earnings per share for the last quarter, significantly exceeding analysts' expectations of $3.93, with revenue increasing 7.3% year-over-year.
• Biogen's consensus rating is currently a "Hold" among analysts, with an average target price set at $185.63.

Motley Fool Asset Management LLC increased its stake in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) by 64.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,809 shares of the biotechnology company's stock after buying an additional 2,676 shares during the period. Motley Fool Asset Management LLC's holdings in Biogen were worth $932,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in BIIB. Vanguard Group Inc. grew its holdings in shares of Biogen by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 17,032,839 shares of the biotechnology company's stock worth $2,330,774,000 after acquiring an additional 283,964 shares during the period. Invesco Ltd. raised its position in Biogen by 6.4% during the first quarter. Invesco Ltd. now owns 2,265,007 shares of the biotechnology company's stock worth $309,944,000 after acquiring an additional 136,200 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in Biogen by 1.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,933,716 shares of the biotechnology company's stock worth $295,705,000 after acquiring an additional 21,170 shares during the last quarter. Northern Trust Corp raised its position in Biogen by 14.6% during the fourth quarter. Northern Trust Corp now owns 1,550,130 shares of the biotechnology company's stock worth $237,046,000 after acquiring an additional 196,995 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Biogen by 33.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,533,813 shares of the biotechnology company's stock worth $234,551,000 after acquiring an additional 381,122 shares during the last quarter. Hedge funds and other institutional investors own 87.93% of the company's stock.

Biogen Trading Down 0.2%

BIIB traded down $0.25 during trading on Thursday, hitting $134.94. 1,169,495 shares of the company's stock were exchanged, compared to its average volume of 1,563,572. The company has a current ratio of 2.50, a quick ratio of 1.79 and a debt-to-equity ratio of 0.36. Biogen Inc. has a 1 year low of $110.04 and a 1 year high of $207.59. The stock has a 50 day moving average price of $130.02 and a 200 day moving average price of $131.09. The firm has a market cap of $19.78 billion, a P/E ratio of 12.90, a price-to-earnings-growth ratio of 1.01 and a beta of 0.13.

Biogen (NASDAQ:BIIB - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The biotechnology company reported $5.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.93 by $1.54. Biogen had a net margin of 15.31% and a return on equity of 13.85%. The company had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.32 billion. During the same period in the previous year, the firm earned $5.28 earnings per share. Biogen's revenue for the quarter was up 7.3% on a year-over-year basis. As a group, analysts expect that Biogen Inc. will post 15.83 EPS for the current fiscal year.

Insider Transactions at Biogen

In other Biogen news, insider Rachid Izzar sold 2,223 shares of the business's stock in a transaction that occurred on Tuesday, July 8th. The shares were sold at an average price of $135.00, for a total transaction of $300,105.00. Following the completion of the sale, the insider directly owned 6,330 shares in the company, valued at $854,550. The trade was a 25.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.18% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

BIIB has been the subject of a number of research reports. Wedbush restated a "neutral" rating and set a $121.00 target price on shares of Biogen in a research report on Thursday, June 12th. Piper Sandler restated a "neutral" rating and set a $118.00 target price (up previously from $115.00) on shares of Biogen in a research report on Thursday. HSBC cut shares of Biogen from a "buy" rating to a "hold" rating and set a $118.00 target price for the company. in a research report on Monday, April 28th. Hsbc Global Res cut shares of Biogen from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 28th. Finally, Citigroup lifted their target price on shares of Biogen from $125.00 to $135.00 and gave the stock a "neutral" rating in a research report on Friday, August 1st. Twenty-one investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, Biogen currently has a consensus rating of "Hold" and an average price target of $185.74.

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.