Edmond DE Rothschild Holding S.A. Has $12.78 Million Stake in Biogen Inc (NASDAQ:BIIB)

Edmond DE Rothschild Holding S.A. decreased its position in Biogen Inc (NASDAQ:BIIB) by 0.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 54,053 shares of the biotechnology company’s stock after selling 198 shares during the quarter. Edmond DE Rothschild Holding S.A.’s holdings in Biogen were worth $12,777,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. Tokio Marine Asset Management Co. Ltd. boosted its holdings in Biogen by 0.3% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 13,016 shares of the biotechnology company’s stock worth $3,917,000 after acquiring an additional 39 shares during the period. Cigna Investments Inc. New boosted its holdings in Biogen by 0.5% in the 4th quarter. Cigna Investments Inc. New now owns 8,396 shares of the biotechnology company’s stock worth $2,526,000 after acquiring an additional 39 shares during the period. Mosaic Family Wealth LLC boosted its holdings in Biogen by 19.5% in the 4th quarter. Mosaic Family Wealth LLC now owns 263 shares of the biotechnology company’s stock worth $79,000 after acquiring an additional 43 shares during the period. Balasa Dinverno & Foltz LLC boosted its holdings in Biogen by 2.5% in the 4th quarter. Balasa Dinverno & Foltz LLC now owns 1,831 shares of the biotechnology company’s stock worth $551,000 after acquiring an additional 45 shares during the period. Finally, BRYN MAWR TRUST Co boosted its holdings in Biogen by 7.2% in the 4th quarter. BRYN MAWR TRUST Co now owns 669 shares of the biotechnology company’s stock worth $201,000 after acquiring an additional 45 shares during the period. 87.55% of the stock is owned by hedge funds and other institutional investors.

In related news, Director Alexander J. Denner purchased 118,342 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The stock was acquired at an average price of $229.94 per share, for a total transaction of $27,211,559.48. Following the transaction, the director now directly owns 10,909 shares of the company’s stock, valued at approximately $2,508,415.46. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Alexander J. Denner acquired 50,342 shares of Biogen stock in a transaction that occurred on Tuesday, April 30th. The stock was acquired at an average cost of $229.25 per share, with a total value of $11,540,903.50. Following the completion of the purchase, the director now owns 10,909 shares in the company, valued at approximately $2,500,888.25. The disclosure for this purchase can be found here. Insiders purchased a total of 173,035 shares of company stock valued at $39,759,632 in the last quarter. 0.39% of the stock is currently owned by corporate insiders.

BIIB stock traded down $5.90 during trading hours on Friday, hitting $233.87. 1,798,194 shares of the stock traded hands, compared to its average volume of 2,007,688. The firm has a 50-day moving average of $229.89. Biogen Inc has a one year low of $216.12 and a one year high of $388.67. The firm has a market capitalization of $46.16 billion, a P/E ratio of 8.93, a P/E/G ratio of 0.96 and a beta of 0.95. The company has a current ratio of 2.84, a quick ratio of 2.60 and a debt-to-equity ratio of 0.43.

Biogen (NASDAQ:BIIB) last announced its earnings results on Wednesday, April 24th. The biotechnology company reported $6.98 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $6.88 by $0.10. Biogen had a return on equity of 41.39% and a net margin of 33.79%. The business had revenue of $3.49 billion during the quarter, compared to analysts’ expectations of $3.38 billion. During the same quarter last year, the business posted $6.05 earnings per share. The company’s quarterly revenue was up 11.5% on a year-over-year basis. On average, equities research analysts anticipate that Biogen Inc will post 29.57 earnings per share for the current year.

BIIB has been the subject of a number of analyst reports. Oppenheimer set a $290.00 price target on Biogen and gave the stock a “buy” rating in a report on Monday, April 22nd. Cantor Fitzgerald reiterated a “hold” rating and set a $250.00 target price on shares of Biogen in a research note on Wednesday, March 27th. Guggenheim set a $236.00 target price on Biogen and gave the company a “hold” rating in a research note on Friday, March 22nd. Credit Suisse Group initiated coverage on Biogen in a research note on Monday, May 20th. They set an “underperform” rating and a $198.00 target price for the company. Finally, Mizuho set a $235.00 price target on Biogen and gave the company a “hold” rating in a research report on Monday, April 22nd. Three investment analysts have rated the stock with a sell rating, twenty-six have assigned a hold rating and six have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $282.08.

Biogen 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.

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Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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