Public Employees Retirement System of Ohio Has $7.65 Million Stock Holdings in Biogen Inc. (NASDAQ:BIIB)

Public Employees Retirement System of Ohio cut its stake in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) by 5.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 50,051 shares of the biotechnology company's stock after selling 2,866 shares during the quarter. Public Employees Retirement System of Ohio's holdings in Biogen were worth $7,654,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Lee Danner & Bass Inc. acquired a new position in shares of Biogen in the 4th quarter valued at $25,000. Larson Financial Group LLC raised its holdings in Biogen by 640.9% during the 4th quarter. Larson Financial Group LLC now owns 163 shares of the biotechnology company's stock worth $25,000 after buying an additional 141 shares during the period. Colonial Trust Co SC lifted its stake in Biogen by 9,300.0% during the fourth quarter. Colonial Trust Co SC now owns 188 shares of the biotechnology company's stock valued at $29,000 after buying an additional 186 shares in the last quarter. SRS Capital Advisors Inc. purchased a new stake in shares of Biogen in the 4th quarter valued at approximately $33,000. Finally, OFI Invest Asset Management acquired a new stake in shares of Biogen in the fourth quarter worth $32,000. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Biogen Stock Performance

Shares of BIIB traded down $1.64 during trading hours on Friday, reaching $131.11. 3,640,026 shares of the company traded hands, compared to its average volume of 1,411,593. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.90 and a current ratio of 1.35. The stock's fifty day moving average is $123.43 and its 200 day moving average is $139.07. Biogen Inc. has a 1-year low of $110.04 and a 1-year high of $238.00. The stock has a market cap of $19.21 billion, a P/E ratio of 11.72, a price-to-earnings-growth ratio of 1.51 and a beta of 0.12.

Biogen (NASDAQ:BIIB - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The biotechnology company reported $3.02 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 firm had revenue of $2.43 billion during the quarter, compared to the consensus estimate of $2.25 billion. During the same quarter in the prior year, the business posted $3.67 EPS. Biogen's revenue was up 6.2% compared to the same quarter last year. Equities research analysts anticipate that Biogen Inc. will post 15.83 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Argus downgraded Biogen from a "buy" rating to a "hold" rating in a report on Friday, April 4th. Scotiabank dropped their price objective on shares of Biogen from $244.00 to $224.00 and set a "sector outperform" rating on the stock in a research note on Thursday, February 13th. Mizuho decreased their target price 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. HC Wainwright lowered their price target on shares of Biogen from $241.00 to $187.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Finally, Sanford C. Bernstein started coverage on Biogen in a report on Tuesday, February 11th. They set a "market perform" rating and a $160.00 price objective for the company. Twenty investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $191.30.

Insider Buying and Selling

In other Biogen news, Director Stephen A. Sherwin sold 8,760 shares of the firm's stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $150.02, for a total transaction of $1,314,175.20. Following the completion of 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.16% of the stock is owned by company insiders.

Biogen 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.