Hotchkis & Wiley Capital Management LLC Decreases Stake in Biogen Inc. (NASDAQ:BIIB)

Hotchkis & Wiley Capital Management LLC reduced its position in shares of Biogen Inc. (NASDAQ:BIIB) by 0.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 286,572 shares of the biotechnology company’s stock after selling 228 shares during the period. Hotchkis & Wiley Capital Management LLC owned about 0.14% of Biogen worth $78,355,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Capital Guardian Trust Co. increased its position in Biogen by 130.1% in the fourth quarter. Capital Guardian Trust Co. now owns 359 shares of the biotechnology company’s stock valued at $102,000 after buying an additional 203 shares during the period. Crestwood Advisors Group LLC acquired a new position in Biogen during the first quarter valued at approximately $106,000. Winfield Associates Inc. increased its position in Biogen by 16.8% in the first quarter. Winfield Associates Inc. now owns 467 shares of the biotechnology company’s stock valued at $128,000 after buying an additional 67 shares during the period. Focused Wealth Management Inc increased its position in Biogen by 18.8% in the fourth quarter. Focused Wealth Management Inc now owns 475 shares of the biotechnology company’s stock valued at $135,000 after buying an additional 75 shares during the period. Finally, Rational Advisors LLC increased its position in Biogen by 14.3% in the first quarter. Rational Advisors LLC now owns 593 shares of the biotechnology company’s stock valued at $162,000 after buying an additional 74 shares during the period. 88.70% of the stock is currently owned by institutional investors.

Biogen Inc. (NASDAQ:BIIB) traded down 0.60% on Tuesday, hitting $289.26. 921,570 shares of the stock traded hands. The stock has a 50-day moving average of $278.73 and a 200-day moving average of $273.77. Biogen Inc. has a 12-month low of $244.28 and a 12-month high of $329.83. The firm has a market cap of $61.16 billion, a price-to-earnings ratio of 18.98 and a beta of 0.79.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Tuesday, July 25th. The biotechnology company reported $5.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.36 by $0.68. Biogen had a net margin of 28.10% and a return on equity of 37.42%. The company had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $2.81 billion. During the same quarter in the prior year, the company posted $5.21 EPS. The business’s revenue was up 6.4% on a year-over-year basis. Analysts forecast that Biogen Inc. will post $21.44 earnings per share for the current year.

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BIIB has been the subject of a number of analyst reports. Leerink Swann lowered their target price on shares of Biogen from $300.00 to $290.00 and set a “market perform” rating for the company in a research note on Monday, April 10th. Robert W. Baird reiterated a “neutral” rating and set a $290.00 target price on shares of Biogen in a research note on Tuesday, April 18th. Mizuho reiterated a “hold” rating and set a $290.00 target price on shares of Biogen in a research note on Tuesday, April 18th. Barclays PLC restated an “overweight” rating and issued a $360.00 price objective (down previously from $380.00) on shares of Biogen in a research note on Sunday, April 23rd. Finally, Sanford C. Bernstein restated an “outperform” rating and issued a $310.00 price objective on shares of Biogen in a research note on Tuesday, April 25th. Eleven analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $329.74.

In other news, EVP Susan H. Alexander sold 4,974 shares of the company’s stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $290.01, for a total value of $1,442,509.74. Following the sale, the executive vice president now owns 22,258 shares of the company’s stock, valued at approximately $6,455,042.58. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Brian S. Posner sold 1,084 shares of the company’s stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $256.31, for a total transaction of $277,840.04. Following the completion of the sale, the director now directly owns 6,330 shares in the company, valued at approximately $1,622,442.30. The disclosure for this sale can be found here. In the last ninety days, insiders sold 13,816 shares of company stock worth $3,931,380. 0.32% of the stock is owned by insiders.

About Biogen

Biogen Inc is a biopharmaceutical company. The Company focuses on discovering, developing, manufacturing and delivering therapies to people living with serious neurological, rare and autoimmune diseases. The Company markets products, including TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, ZINBRYTA and FAMPYRA for multiple sclerosis (MS), FUMADERM for the treatment of severe plaque psoriasis and SPINRAZA for the treatment of spinal muscular atrophy (SMA).

Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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