Meiji Yasuda Asset Management Co Ltd. decreased its stake in Biogen Inc (NASDAQ:BIIB) by 6.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,866 shares of the biotechnology company’s stock after selling 452 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in Biogen were worth $2,066,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. BlackRock Inc. increased its holdings in shares of Biogen by 0.4% in the fourth quarter. BlackRock Inc. now owns 16,568,963 shares of the biotechnology company’s stock worth $4,985,931,000 after acquiring an additional 70,603 shares in the last quarter. Oregon Public Employees Retirement Fund grew its holdings in shares of Biogen by 27,620.0% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 14,309,047 shares of the biotechnology company’s stock worth $48,000 after buying an additional 14,257,427 shares in the last quarter. AQR Capital Management LLC grew its holdings in shares of Biogen by 6.5% during the third quarter. AQR Capital Management LLC now owns 3,024,037 shares of the biotechnology company’s stock worth $1,068,422,000 after buying an additional 183,542 shares in the last quarter. Capital World Investors grew its holdings in shares of Biogen by 503.2% during the third quarter. Capital World Investors now owns 2,473,708 shares of the biotechnology company’s stock worth $873,986,000 after buying an additional 2,063,598 shares in the last quarter. Finally, Jackson Square Partners LLC grew its holdings in shares of Biogen by 5.7% during the third quarter. Jackson Square Partners LLC now owns 2,241,778 shares of the biotechnology company’s stock worth $792,042,000 after buying an additional 121,072 shares in the last quarter. 88.94% of the stock is currently owned by institutional investors and hedge funds.
BIIB has been the subject of a number of research reports. Oppenheimer set a $372.00 price objective on Biogen and gave the stock a “buy” rating in a report on Friday, January 25th. Morgan Stanley increased their price objective on Biogen from $394.00 to $401.00 and gave the stock an “overweight” rating in a report on Wednesday, December 19th. JPMorgan Chase & Co. reissued a “buy” rating on shares of Biogen in a research report on Thursday, January 10th. Citigroup increased their price target on Biogen from $372.00 to $380.00 and gave the company an “outperform” rating in a research report on Wednesday, January 30th. Finally, ValuEngine raised Biogen from a “sell” rating to a “hold” rating in a research report on Wednesday, January 2nd. Ten research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Biogen currently has an average rating of “Buy” and a consensus target price of $370.28.
Shares of BIIB traded down $7.36 during midday trading on Friday, hitting $307.93. The company’s stock had a trading volume of 1,601,073 shares, compared to its average volume of 1,225,704. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.04 and a current ratio of 2.32. Biogen Inc has a one year low of $249.17 and a one year high of $388.67. The firm has a market cap of $60.57 billion, a price-to-earnings ratio of 11.75, a PEG ratio of 1.15 and a beta of 1.13.
Biogen (NASDAQ:BIIB) last issued its earnings results on Tuesday, January 29th. The biotechnology company reported $6.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.72 by $0.27. Biogen had a return on equity of 40.53% and a net margin of 32.94%. The business had revenue of $3.53 billion during the quarter, compared to analysts’ expectations of $3.39 billion. During the same quarter in the prior year, the firm earned $5.26 EPS. The business’s revenue for the quarter was up 6.6% compared to the same quarter last year. As a group, research analysts forecast that Biogen Inc will post 28.68 EPS for the current fiscal year.
In related news, Director Alexander J. Denner bought 30,000 shares of the business’s stock in a transaction on Wednesday, January 30th. The shares were purchased at an average cost of $324.86 per share, with a total value of $9,745,800.00. Following the acquisition, the director now owns 10,909 shares of the company’s stock, valued at $3,543,897.74. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Director Alexander J. Denner bought 7,000 shares of the business’s stock in a transaction on Friday, February 1st. The shares were bought at an average cost of $328.45 per share, for a total transaction of $2,299,150.00. Following the completion of the acquisition, the director now directly owns 10,909 shares in the company, valued at approximately $3,583,061.05. The disclosure for this purchase can be found here. 0.29% of the stock is owned by corporate insiders.
COPYRIGHT VIOLATION WARNING: This news story was originally reported by Fairfield Current and is the sole property of of Fairfield Current. If you are accessing this news story on another publication, it was illegally copied and reposted in violation of US and international trademark and copyright law. The legal version of this news story can be accessed at https://www.fairfieldcurrent.com/news/2019/03/10/meiji-yasuda-asset-management-co-ltd-has-2-07-million-position-in-biogen-inc-biib.html.
Biogen Company Profile
Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases worldwide. The company offers TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for the treatment of multiple sclerosis (MS); SPINRAZA for the treatment of spinal muscular atrophy; and FUMADERM for the treatment of plaque psoriasis.
Further Reading: What is the float in trading stocks?
Receive News & Ratings for Biogen Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Biogen and related companies with MarketBeat.com’s FREE daily email newsletter.