Swedbank AB Has $23.19 Million Stock Holdings in Biogen Inc. (NASDAQ:BIIB)

Swedbank AB cut its position in shares of Biogen Inc. (NASDAQ:BIIB) by 6.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 100,027 shares of the biotechnology company’s stock after selling 6,356 shares during the quarter. Swedbank AB owned 0.07% of Biogen worth $23,188,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Plato Investment Management Ltd grew its position in Biogen by 82.8% during the first quarter. Plato Investment Management Ltd now owns 117 shares of the biotechnology company’s stock worth $25,000 after buying an additional 53 shares in the last quarter. Livelsberger Financial Advisory acquired a new stake in Biogen during the fourth quarter worth about $26,000. Rise Advisors LLC acquired a new stake in Biogen during the first quarter worth about $27,000. Hexagon Capital Partners LLC grew its position in Biogen by 76.1% during the fourth quarter. Hexagon Capital Partners LLC now owns 118 shares of the biotechnology company’s stock worth $31,000 after buying an additional 51 shares in the last quarter. Finally, EntryPoint Capital LLC acquired a new stake in Biogen during the first quarter worth about $36,000. 87.93% of the stock is owned by institutional investors and hedge funds.

Biogen Trading Up 0.1 %

Shares of BIIB stock traded up $0.28 on Friday, hitting $201.91. The stock had a trading volume of 705,995 shares, compared to its average volume of 1,134,084. Biogen Inc. has a twelve month low of $189.44 and a twelve month high of $270.50. The firm has a market cap of $29.40 billion, a P/E ratio of 25.17, a PEG ratio of 2.09 and a beta of -0.04. The company has a current ratio of 2.29, a quick ratio of 1.32 and a debt-to-equity ratio of 0.40. The company has a fifty day moving average price of $220.67 and a two-hundred day moving average price of $220.25.

Biogen (NASDAQ:BIIB) last announced its earnings results on Thursday, August 1st. The biotechnology company reported $5.28 earnings per share for the quarter, topping analysts’ consensus estimates of $4.00 by $1.28. The firm had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.39 billion. Biogen had a net margin of 11.98% and a return on equity of 15.71%. The company’s revenue for the quarter was up .4% compared to the same quarter last year. During the same period in the prior year, the business earned $4.02 EPS. As a group, analysts forecast that Biogen Inc. will post 15.87 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. StockNews.com raised Biogen from a “hold” rating to a “buy” rating in a report on Monday, August 5th. Piper Sandler decreased their price objective on Biogen from $335.00 to $313.00 and set an “overweight” rating on the stock in a report on Friday, July 12th. Scotiabank decreased their price objective on Biogen from $275.00 to $244.00 and set a “sector outperform” rating on the stock in a report on Friday, August 2nd. HSBC lifted their price objective on Biogen from $339.00 to $342.00 and gave the company a “buy” rating in a report on Friday, May 3rd. Finally, HC Wainwright reaffirmed a “buy” rating and set a $300.00 price objective on shares of Biogen in a report on Thursday, May 23rd. Eight investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Biogen presently has a consensus rating of “Moderate Buy” and a consensus price target of $276.48.

Biogen Company Profile

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.