Biogen Inc. (BIIB) Stake Maintained by Virginia Retirement Systems ET AL

Virginia Retirement Systems ET AL continued to hold its position in Biogen Inc. (NASDAQ:BIIB) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 104,000 shares of the biotechnology company’s stock at the close of the second quarter. Virginia Retirement Systems ET AL’s holdings in Biogen were worth $28,221,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of BIIB. Waldron LP raised its stake in shares of Biogen by 17.0% in the first quarter. Waldron LP now owns 3,022 shares of the biotechnology company’s stock valued at $826,000 after acquiring an additional 439 shares during the last quarter. DUPONT CAPITAL MANAGEMENT Corp raised its stake in shares of Biogen by 46.8% in the first quarter. DUPONT CAPITAL MANAGEMENT Corp now owns 13,422 shares of the biotechnology company’s stock valued at $3,670,000 after acquiring an additional 4,277 shares during the last quarter. Wetherby Asset Management Inc. raised its stake in shares of Biogen by 8.6% in the first quarter. Wetherby Asset Management Inc. now owns 3,583 shares of the biotechnology company’s stock valued at $980,000 after acquiring an additional 283 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD raised its stake in shares of Biogen by 9.7% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 18,002 shares of the biotechnology company’s stock valued at $4,922,000 after acquiring an additional 1,592 shares during the last quarter. Finally, Saratoga Research & Investment Management raised its stake in shares of Biogen by 4.9% in the first quarter. Saratoga Research & Investment Management now owns 126,222 shares of the biotechnology company’s stock valued at $34,512,000 after acquiring an additional 5,896 shares during the last quarter. Institutional investors own 87.26% of the company’s stock.

Shares of Biogen Inc. (NASDAQ BIIB) opened at 323.64 on Friday. Biogen Inc. has a one year low of $244.28 and a one year high of $330.00. The company has a market capitalization of $68.43 billion, a PE ratio of 21.24 and a beta of 0.77. The stock has a 50 day moving average of $297.83 and a 200-day moving average of $278.11.

Biogen (NASDAQ:BIIB) last released its quarterly earnings results on Tuesday, July 25th. The biotechnology company reported $5.04 earnings per share for the quarter, beating analysts’ consensus estimates of $4.36 by $0.68. The company had revenue of $3.08 billion for the quarter, compared to analyst estimates of $2.81 billion. Biogen had a net margin of 28.10% and a return on equity of 37.42%. The firm’s revenue was up 6.4% on a year-over-year basis. During the same period last year, the firm earned $5.21 earnings per share. On average, equities analysts forecast that Biogen Inc. will post $21.48 earnings per share for the current fiscal year.

A number of research analysts have recently issued reports on BIIB shares. Cantor Fitzgerald reiterated a “hold” rating and issued a $277.00 target price on shares of Biogen in a research note on Thursday, May 25th. Sanford C. Bernstein restated an “outperform” rating on shares of Biogen in a research report on Thursday, May 25th. Mizuho dropped their price objective on shares of Biogen from $290.00 to $274.00 and set a “neutral” rating for the company in a research report on Wednesday, May 31st. BMO Capital Markets restated a “hold” rating and issued a $318.00 price objective on shares of Biogen in a research report on Friday, June 2nd. Finally, ValuEngine cut shares of Biogen from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Thirteen investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. Biogen presently has an average rating of “Buy” and an average price target of $331.53.

In other Biogen news, EVP Susan H. Alexander sold 4,974 shares of Biogen 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 $6,455,042.58. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Susan H. Alexander sold 7,758 shares of Biogen stock in a transaction dated Wednesday, July 19th. The stock was sold at an average price of $285.00, for a total transaction of $2,211,030.00. Following the completion of the sale, the executive vice president now directly owns 27,232 shares in the company, valued at approximately $7,761,120. The disclosure for this sale can be found here. Insiders own 0.32% of the company’s stock.

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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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