Motley Fool Wealth Management LLC Decreases Position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Motley Fool Wealth Management LLC reduced its holdings in shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 3.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 470,289 shares of the biotechnology company's stock after selling 18,667 shares during the period. BioMarin Pharmaceutical makes up 2.4% of Motley Fool Wealth Management LLC's holdings, making the stock its 10th largest position. Motley Fool Wealth Management LLC owned approximately 0.25% of BioMarin Pharmaceutical worth $45,429,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in BMRN. CWM LLC raised its holdings in BioMarin Pharmaceutical by 10.0% in the 3rd quarter. CWM LLC now owns 1,301 shares of the biotechnology company's stock worth $115,000 after purchasing an additional 118 shares during the period. State of Alaska Department of Revenue increased its holdings in shares of BioMarin Pharmaceutical by 3.2% in the third quarter. State of Alaska Department of Revenue now owns 27,605 shares of the biotechnology company's stock valued at $2,442,000 after purchasing an additional 865 shares during the last quarter. Handelsbanken Fonder AB increased its holdings in shares of BioMarin Pharmaceutical by 1.8% in the third quarter. Handelsbanken Fonder AB now owns 91,755 shares of the biotechnology company's stock valued at $8,118,000 after purchasing an additional 1,593 shares during the last quarter. Simplicity Solutions LLC increased its holdings in shares of BioMarin Pharmaceutical by 8.4% in the third quarter. Simplicity Solutions LLC now owns 2,971 shares of the biotechnology company's stock valued at $263,000 after purchasing an additional 229 shares during the last quarter. Finally, AMI Asset Management Corp acquired a new stake in shares of BioMarin Pharmaceutical in the third quarter valued at approximately $27,838,000. Hedge funds and other institutional investors own 98.71% of the company's stock.

BioMarin Pharmaceutical Price Performance

Shares of BioMarin Pharmaceutical stock traded down $1.26 during trading on Friday, hitting $80.91. 2,257,132 shares of the company were exchanged, compared to its average volume of 1,697,110. The firm has a 50 day moving average price of $87.58 and a 200 day moving average price of $89.14. The company has a quick ratio of 1.57, a current ratio of 2.51 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $15.27 billion, a price-to-earnings ratio of 75.62, a P/E/G ratio of 1.49 and a beta of 0.31. BioMarin Pharmaceutical Inc. has a fifty-two week low of $76.02 and a fifty-two week high of $99.56.

BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) last issued its quarterly earnings results on Thursday, February 22nd. The biotechnology company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.05. The company had revenue of $646.21 million during the quarter, compared to the consensus estimate of $639.53 million. BioMarin Pharmaceutical had a return on equity of 5.39% and a net margin of 8.31%. BioMarin Pharmaceutical's revenue was up 20.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.11 EPS. On average, equities analysts expect that BioMarin Pharmaceutical Inc. will post 1.85 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently commented on BMRN. Morgan Stanley cut their price target on BioMarin Pharmaceutical from $115.00 to $112.00 and set an "overweight" rating for the company in a report on Friday. Cantor Fitzgerald restated an "overweight" rating and set a $110.00 price target on shares of BioMarin Pharmaceutical in a research report on Thursday. Wells Fargo & Company lifted their target price on BioMarin Pharmaceutical from $100.00 to $110.00 and gave the company an "overweight" rating in a report on Thursday. Robert W. Baird decreased their target price on BioMarin Pharmaceutical from $127.00 to $104.00 and set an "outperform" rating for the company in a report on Tuesday, January 30th. Finally, Piper Sandler cut their price target on BioMarin Pharmaceutical from $115.00 to $107.00 and set an "overweight" rating on the stock in a research note on Friday, February 23rd. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, BioMarin Pharmaceutical currently has an average rating of "Moderate Buy" and a consensus price target of $107.50.

Insider Transactions at BioMarin Pharmaceutical

In other news, insider Henry J. Fuchs sold 35,341 shares of the company's stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $85.18, for a total transaction of $3,010,346.38. Following the completion of the sale, the insider now directly owns 212,117 shares in the company, valued at approximately $18,068,126.06. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Henry J. Fuchs sold 35,341 shares of the company's stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $85.18, for a total transaction of $3,010,346.38. Following the completion of the sale, the insider now directly owns 212,117 shares of the company's stock, valued at approximately $18,068,126.06. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Jean Jacques Bienaime sold 20,000 shares of the company's stock in a transaction on Friday, April 12th. The stock was sold at an average price of $91.26, for a total transaction of $1,825,200.00. Following the sale, the director now directly owns 474,994 shares of the company's stock, valued at $43,347,952.44. The disclosure for this sale can be found here. Insiders sold a total of 103,229 shares of company stock worth $9,062,967 in the last ninety days. Insiders own 1.84% of the company's stock.

BioMarin Pharmaceutical Company Profile

BioMarin Pharmaceutical Inc develops and commercializes therapies for people with serious and life-threatening rare diseases and medical conditions. Its commercial products include Vimizim, an enzyme replacement therapy for the treatment of mucopolysaccharidosis (MPS) IV type A, a lysosomal storage disorder; Naglazyme, a recombinant form of N-acetylgalactosamine 4-sulfatase for patients with MPS VI; and Kuvan, a proprietary synthetic oral form of 6R-BH4 that is used to treat patients with phenylketonuria (PKU), an inherited metabolic disease.