Biogen Inc. (NASDAQ:BIIB) Shares Sold by Stifel Financial Corp

Stifel Financial Corp decreased its stake in Biogen Inc. (NASDAQ:BIIB - Free Report) by 73.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,756 shares of the biotechnology company's stock after selling 34,798 shares during the period. Stifel Financial Corp's holdings in Biogen were worth $1,951,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of BIIB. Wilmington Savings Fund Society FSB purchased a new position in shares of Biogen during the third quarter worth approximately $150,000. Tidal Investments LLC grew its position in Biogen by 13.6% during the 3rd quarter. Tidal Investments LLC now owns 9,012 shares of the biotechnology company's stock worth $1,747,000 after purchasing an additional 1,082 shares during the last quarter. Principal Financial Group Inc. increased its stake in Biogen by 3.2% in the third quarter. Principal Financial Group Inc. now owns 168,631 shares of the biotechnology company's stock valued at $32,687,000 after purchasing an additional 5,270 shares during the period. Versant Capital Management Inc raised its holdings in shares of Biogen by 228.7% in the fourth quarter. Versant Capital Management Inc now owns 401 shares of the biotechnology company's stock valued at $61,000 after buying an additional 279 shares during the last quarter. Finally, Nordea Investment Management AB boosted its stake in shares of Biogen by 48.0% during the fourth quarter. Nordea Investment Management AB now owns 117,963 shares of the biotechnology company's stock worth $17,901,000 after buying an additional 38,283 shares during the period. 87.93% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Biogen

In related news, Director Stephen A. Sherwin sold 8,760 shares of the firm's stock in a transaction dated Friday, March 7th. The stock was 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 of the company's stock, 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 filing with the SEC, which is available through the SEC website. 0.16% of the stock is currently owned by corporate insiders.

Biogen Stock Performance

Shares of BIIB traded down $0.19 during trading hours on Friday, reaching $118.20. 1,306,483 shares of the company's stock traded hands, compared to its average volume of 1,366,134. The firm has a market capitalization of $17.32 billion, a price-to-earnings ratio of 10.56, a P/E/G ratio of 1.51 and a beta of 0.12. The business's fifty day simple moving average is $128.33 and its two-hundred day simple moving average is $144.65. Biogen Inc. has a twelve month low of $110.04 and a twelve month high of $238.00. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.35 and a quick ratio of 0.90.

Biogen (NASDAQ:BIIB - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The biotechnology company reported $3.02 EPS for the quarter, missing analysts' consensus estimates of $3.26 by ($0.24). The company had revenue of $2.43 billion for the quarter, compared to the consensus estimate of $2.25 billion. Biogen had a return on equity of 14.98% and a net margin of 16.87%. The firm's quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter last year, the firm posted $3.67 earnings per share. Analysts predict that Biogen Inc. will post 15.83 earnings per share for the current year.

Analyst Ratings Changes

BIIB has been the topic of a number of recent analyst reports. Sanford C. Bernstein assumed coverage on Biogen in a report on Tuesday, February 11th. They set a "market perform" rating and a $160.00 price objective on the stock. Citigroup lowered their price target on shares of Biogen from $160.00 to $145.00 and set a "neutral" rating on the stock in a research note on Thursday, February 13th. Needham & Company LLC reiterated a "hold" rating on shares of Biogen in a research note on Friday, May 2nd. JPMorgan Chase & Co. lowered their target price on shares of Biogen from $185.00 to $175.00 and set a "neutral" rating on the stock in a research report on Monday, May 5th. Finally, Robert W. Baird reduced their price target on shares of Biogen from $300.00 to $255.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. Twenty 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.com, the company has an average rating of "Hold" and an average price target of $191.30.

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.