Quotient Wealth Partners LLC Decreases Stock Holdings in Biogen Inc. (NASDAQ:BIIB)

Quotient Wealth Partners LLC cut its holdings in Biogen Inc. (NASDAQ:BIIBFree Report) by 66.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,629 shares of the biotechnology company’s stock after selling 5,164 shares during the period. Quotient Wealth Partners LLC’s holdings in Biogen were worth $609,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of BIIB. Vanguard Group Inc. lifted its position in Biogen by 18.2% in the fourth quarter. Vanguard Group Inc. now owns 14,407,330 shares of the biotechnology company’s stock valued at $3,728,185,000 after acquiring an additional 2,218,744 shares during the last quarter. Norges Bank acquired a new stake in shares of Biogen in the fourth quarter valued at approximately $378,728,000. FIL Ltd increased its holdings in shares of Biogen by 936.4% in the 4th quarter. FIL Ltd now owns 656,502 shares of the biotechnology company’s stock valued at $169,883,000 after acquiring an additional 593,158 shares during the period. First Trust Advisors LP raised its position in Biogen by 141.0% in the 4th quarter. First Trust Advisors LP now owns 977,308 shares of the biotechnology company’s stock valued at $252,898,000 after purchasing an additional 571,795 shares during the last quarter. Finally, Van ECK Associates Corp grew its holdings in shares of Biogen by 22.2% during the first quarter. Van ECK Associates Corp now owns 1,737,340 shares of the biotechnology company’s stock worth $374,623,000 after buying an additional 316,144 shares during the last quarter. 87.93% of the stock is owned by hedge funds and other institutional investors.

Biogen Stock Up 0.8 %

Shares of BIIB stock traded up $1.68 on Friday, hitting $205.00. The stock had a trading volume of 1,127,364 shares, compared to its average volume of 1,123,466. The stock’s 50 day moving average is $217.76 and its 200-day moving average is $218.54. The firm has a market capitalization of $29.85 billion, a price-to-earnings ratio of 25.59, a P/E/G ratio of 2.09 and a beta of -0.04. Biogen Inc. has a 52-week low of $189.44 and a 52-week high of $270.50. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.32 and a current ratio of 2.29.

Biogen (NASDAQ:BIIBGet Free Report) last announced its earnings results on Thursday, August 1st. The biotechnology company reported $5.28 earnings per share for the quarter, beating the consensus estimate of $4.00 by $1.28. The company had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.39 billion. Biogen had a return on equity of 15.71% and a net margin of 11.98%. The company’s revenue was up .4% on a year-over-year basis. During the same period last year, the firm earned $4.02 earnings per share. As a group, research analysts expect that Biogen Inc. will post 15.87 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on BIIB shares. Wells Fargo & Company dropped their price target on shares of Biogen from $240.00 to $225.00 and set an “equal weight” rating on the stock in a research note on Friday, August 2nd. Scotiabank lowered their price target on shares of Biogen from $275.00 to $244.00 and set a “sector outperform” rating on the stock in a research report on Friday, August 2nd. HC Wainwright reaffirmed a “buy” rating and set a $300.00 price objective on shares of Biogen in a research note on Thursday, May 23rd. Barclays cut their target price on shares of Biogen from $200.00 to $190.00 and set an “equal weight” rating for the company in a research note on Friday, August 2nd. Finally, Piper Sandler decreased their price target on shares of Biogen from $335.00 to $313.00 and set an “overweight” rating on the stock in a research note on Friday, July 12th. Eight analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $276.35.

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Biogen Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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