48,262 Shares in Biogen Inc. (NASDAQ:BIIB) Bought by Lansforsakringar Fondforvaltning AB publ

Lansforsakringar Fondforvaltning AB publ acquired a new stake in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 48,262 shares of the biotechnology company's stock, valued at approximately $7,380,000.

Several other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of Biogen by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 16,748,875 shares of the biotechnology company's stock worth $2,561,238,000 after acquiring an additional 70,368 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Biogen by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 3,695,476 shares of the biotechnology company's stock worth $563,709,000 after acquiring an additional 82,456 shares during the last quarter. Norges Bank acquired a new stake in shares of Biogen in the 4th quarter worth about $355,569,000. Invesco Ltd. raised its holdings in shares of Biogen by 30.6% in the 4th quarter. Invesco Ltd. now owns 2,128,807 shares of the biotechnology company's stock worth $325,537,000 after acquiring an additional 499,074 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of Biogen by 1.1% in the 4th 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. Institutional investors and hedge funds own 87.93% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Robert W. Baird decreased their price objective on shares of Biogen from $300.00 to $255.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. Scotiabank decreased their price objective on shares of Biogen from $244.00 to $224.00 and set a "sector outperform" rating for the company in a research note on Thursday, February 13th. Citigroup decreased their price objective on shares of Biogen from $160.00 to $145.00 and set a "neutral" rating for the company in a research note on Thursday, February 13th. Wells Fargo & Company decreased their price objective on shares of Biogen from $165.00 to $140.00 and set an "equal weight" rating for the company in a research note on Thursday, February 13th. Finally, Argus lowered shares of Biogen from a "buy" rating to a "hold" rating in a research note on Friday, April 4th. Twenty research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, Biogen currently has an average rating of "Hold" and a consensus price target of $191.30.

Insider Transactions at Biogen

In related news, Director Stephen A. Sherwin sold 8,760 shares of Biogen 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 transaction, the director now owns 11,318 shares in the company, valued at $1,697,926.36. This trade represents a 43.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.16% of the stock is currently owned by insiders.

Biogen Price Performance

Shares of NASDAQ BIIB traded down $1.64 during mid-day trading on Friday, reaching $131.11. 3,640,026 shares of the company were exchanged, compared to its average volume of 1,413,436. Biogen Inc. has a 52 week low of $110.04 and a 52 week high of $238.00. The company has a quick ratio of 0.90, a current ratio of 1.35 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $19.21 billion, a PE ratio of 11.72, a PEG ratio of 1.51 and a beta of 0.12. The company's 50 day moving average price is $123.43 and its 200 day moving average price is $139.43.

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

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.