Mn Services Vermogensbeheer B.V. Buys New Shares in Biogen Inc. $BIIB

Key Points

• Mn Services Vermogensbeheer B.V. invested approximately $3.34 million in Biogen Inc. by purchasing 26,600 shares in Q2, as disclosed in a recent SEC filing.
• Biogen's recent earnings report showed a notable profit of $5.47 per share, significantly beating analysts' expectations of $3.93, and revenue growth of 7.3% year-over-year.
• A majority of Biogen's stock, 87.93%, is owned by institutional investors, showcasing strong institutional interest in the company.

Mn Services Vermogensbeheer B.V. bought a new position in Biogen Inc. (NASDAQ:BIIB - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 26,600 shares of the biotechnology company's stock, valued at approximately $3,341,000.

A number of other hedge funds have also modified their holdings of BIIB. Quantinno Capital Management LP increased its holdings in Biogen by 104.8% during the 4th quarter. Quantinno Capital Management LP now owns 6,284 shares of the biotechnology company's stock valued at $961,000 after purchasing an additional 3,215 shares in the last quarter. Vident Advisory LLC increased its holdings in Biogen by 13.6% during the 4th quarter. Vident Advisory LLC now owns 1,386 shares of the biotechnology company's stock valued at $212,000 after purchasing an additional 166 shares in the last quarter. Vise Technologies Inc. acquired a new stake in Biogen during the 4th quarter valued at $250,000. GF Fund Management CO. LTD. acquired a new stake in Biogen during the 4th quarter valued at $5,236,000. Finally, Toronto Dominion Bank increased its holdings in Biogen by 20.4% during the 4th quarter. Toronto Dominion Bank now owns 72,671 shares of the biotechnology company's stock valued at $11,111,000 after purchasing an additional 12,301 shares in the last quarter. 87.93% of the stock is owned by institutional investors and hedge funds.

Biogen Stock Down 0.6%

Shares of BIIB traded down $0.81 during midday trading on Tuesday, hitting $139.85. The stock had a trading volume of 395,967 shares, compared to its average volume of 1,565,994. The company has a 50 day simple moving average of $135.16 and a two-hundred day simple moving average of $130.65. Biogen Inc. has a twelve month low of $110.04 and a twelve month high of $199.99. The firm has a market cap of $20.50 billion, a price-to-earnings ratio of 13.37, a price-to-earnings-growth ratio of 1.12 and a beta of 0.11. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.50 and a quick ratio of 1.79.

Biogen (NASDAQ:BIIB - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The biotechnology company reported $5.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.93 by $1.54. Biogen had a return on equity of 13.85% and a net margin of 15.31%.The firm had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.32 billion. During the same quarter last year, the business posted $5.28 EPS. The company's revenue for the quarter was up 7.3% on a year-over-year basis. Biogen has set its FY 2025 guidance at 15.500-16.000 EPS. On average, analysts anticipate that Biogen Inc. will post 15.83 EPS for the current year.

Analyst Ratings Changes

Several research firms have recently commented on BIIB. Truist Financial began coverage on Biogen in a research note on Monday, July 21st. They issued a "hold" rating and a $142.00 target price for the company. Morgan Stanley lowered their target price on Biogen from $146.00 to $144.00 and set an "equal weight" rating for the company in a research note on Friday, August 1st. Royal Bank Of Canada lifted their target price on Biogen from $208.00 to $219.00 and gave the company an "outperform" rating in a research note on Friday, August 1st. Wall Street Zen lowered Biogen from a "strong-buy" rating to a "buy" rating in a research report on Saturday. Finally, Citigroup raised their price target on Biogen from $125.00 to $135.00 and gave the stock a "neutral" rating in a research report on Friday, August 1st. Ten equities research analysts have rated the stock with a Buy rating and twenty-one have given a Hold rating to the company's stock. According to MarketBeat, Biogen presently has a consensus rating of "Hold" and a consensus price target of $181.65.

Insider Transactions at Biogen

In related news, insider Priya Singhal sold 517 shares of Biogen stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $133.55, for a total value of $69,045.35. Following the sale, the insider owned 5,772 shares of the company's stock, valued at approximately $770,850.60. The trade was a 8.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Rachid Izzar sold 2,223 shares of Biogen stock in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $135.00, for a total value of $300,105.00. Following the completion of the sale, the insider directly owned 6,330 shares in the company, valued at approximately $854,550. This represents a 25.99% decrease in their position. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by insiders.

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.