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National Bank of Canada FI Has $27.58 Million Stock Holdings in Biogen Inc. (NASDAQ:BIIB)

Biogen logo with Medical background

Key Points

  • The National Bank of Canada FI increased its stake in Biogen Inc. by 13.3% during the first quarter, owning approximately $27.58 million worth of shares.
  • Biogen reported earnings of $5.47 per share for the last quarter, significantly beating analyst estimates, and its revenue rose 7.3% year-over-year.
  • The majority of Biogen's stock, about 87.93%, is held by institutional investors, with several hedge funds recently increasing their positions in the company.
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National Bank of Canada FI raised its stake in Biogen Inc. (NASDAQ:BIIB - Free Report) by 13.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 201,533 shares of the biotechnology company's stock after acquiring an additional 23,644 shares during the period. National Bank of Canada FI owned approximately 0.14% of Biogen worth $27,578,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC acquired a new position in Biogen in the 1st quarter valued at $26,000. Vision Financial Markets LLC bought a new position in shares of Biogen in the 1st quarter valued at $27,000. Greykasell Wealth Strategies Inc. bought a new position in shares of Biogen in the 1st quarter valued at $27,000. Colonial Trust Co SC increased its stake in shares of Biogen by 9,300.0% in the 4th 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 during the last quarter. Finally, Private Trust Co. NA increased its stake in shares of Biogen by 74.8% in the 1st quarter. Private Trust Co. NA now owns 229 shares of the biotechnology company's stock valued at $31,000 after purchasing an additional 98 shares during the last quarter. 87.93% of the stock is owned by institutional investors and hedge funds.

Biogen Stock Up 2.3%

Shares of NASDAQ:BIIB opened at $130.67 on Monday. The company has a market capitalization of $19.16 billion, a price-to-earnings ratio of 12.49, a P/E/G ratio of 1.03 and a beta of 0.13. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.50 and a quick ratio of 1.79. The business's 50-day moving average is $129.99 and its 200-day moving average is $131.30. Biogen Inc. has a 1 year low of $110.04 and a 1 year high of $207.59.

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

Insider Activity

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

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on BIIB. Hsbc Global Res lowered Biogen from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 28th. HC Wainwright lifted their price target on Biogen from $187.00 to $194.00 and gave the company a "buy" rating in a research note on Friday, August 1st. Canaccord Genuity Group decreased their price target on Biogen from $265.00 to $220.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Morgan Stanley decreased their price target on Biogen from $146.00 to $144.00 and set an "equal weight" rating on the stock in a research note on Friday, August 1st. Finally, Truist Financial began coverage on Biogen in a research note on Monday, July 21st. They issued a "hold" rating and a $142.00 price target on the stock. Twenty-one research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $185.63.

Get Our Latest Research Report on BIIB

About Biogen

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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