Universal Beteiligungs und Servicegesellschaft mbH Has $21.55 Million Stake in Biogen Inc. (NASDAQ:BIIB)

Universal Beteiligungs und Servicegesellschaft mbH lifted its position in Biogen Inc. (NASDAQ:BIIB - Free Report) by 3.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 157,461 shares of the biotechnology company's stock after purchasing an additional 4,594 shares during the quarter. Universal Beteiligungs und Servicegesellschaft mbH owned 0.11% of Biogen worth $21,547,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BIIB. Allianz Asset Management GmbH lifted its stake in Biogen by 24.6% during the first quarter. Allianz Asset Management GmbH now owns 667,767 shares of the biotechnology company's stock worth $91,377,000 after purchasing an additional 131,813 shares during the period. Los Angeles Capital Management LLC acquired a new position in shares of Biogen in the 1st quarter worth approximately $5,927,000. Teachers Retirement System of The State of Kentucky lifted its position in shares of Biogen by 2.8% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 11,213 shares of the biotechnology company's stock worth $1,534,000 after buying an additional 301 shares during the period. Twin Capital Management Inc. boosted its stake in Biogen by 35.6% in the 1st quarter. Twin Capital Management Inc. now owns 11,542 shares of the biotechnology company's stock valued at $1,579,000 after buying an additional 3,029 shares in the last quarter. Finally, AustralianSuper Pty Ltd acquired a new position in Biogen during the first quarter worth $54,421,000. 87.93% of the stock is owned by institutional investors.

Biogen Stock Down 0.8%

Shares of NASDAQ BIIB traded down $1.07 during mid-day trading on Friday, reaching $131.52. 976,978 shares of the company's stock were exchanged, compared to its average volume of 1,173,055. Biogen Inc. has a twelve month low of $110.04 and a twelve month high of $219.44. The company has a current ratio of 1.44, a quick ratio of 1.01 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $19.27 billion, a price-to-earnings ratio of 12.98, a PEG ratio of 1.90 and a beta of 0.14. The business has a fifty day simple moving average of $129.74 and a 200 day simple moving average of $132.38.

Biogen (NASDAQ:BIIB - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The biotechnology company reported $3.02 earnings per share for the quarter, missing analysts' consensus estimates of $3.26 by ($0.24). Biogen had a net margin of 15.07% and a return on equity of 14.03%. The company had revenue of $2.43 billion during the quarter, compared to the consensus estimate of $2.25 billion. During the same period in the previous year, the firm posted $3.67 EPS. The business's quarterly revenue was up 6.2% compared to the same quarter last year. As a group, equities analysts expect that Biogen Inc. will post 15.83 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently commented on BIIB shares. Royal Bank Of Canada set a $213.00 target price on shares of Biogen and gave the company an "outperform" rating in a research note on Wednesday, June 25th. The Goldman Sachs Group decreased their price objective on shares of Biogen from $219.00 to $197.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. JPMorgan Chase & Co. cut their target price on shares of Biogen from $185.00 to $175.00 and set a "neutral" rating for the company in a research note on Monday, May 5th. Truist Financial began coverage on Biogen in a research report on Monday, July 21st. They set a "hold" rating and a $142.00 price target on the stock. Finally, HSBC downgraded Biogen from a "buy" rating to a "hold" rating and set a $118.00 price objective for the company. in a research report on Monday, April 28th. Twenty-one equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $186.37.

Insiders Place Their Bets

In other Biogen news, insider Rachid Izzar sold 2,223 shares of the stock in a transaction dated Tuesday, July 8th. The stock was sold at an average price of $135.00, for a total transaction of $300,105.00. Following the completion of the transaction, the insider owned 6,330 shares in the company, valued at approximately $854,550. This represents a 25.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.18% of the company's stock.

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.