Biogen Inc. (NASDAQ:BIIB) Shares Sold by Johnson Investment Counsel Inc.

Johnson Investment Counsel Inc. lessened its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 18.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,679 shares of the biotechnology company’s stock after selling 386 shares during the period. Johnson Investment Counsel Inc.’s holdings in Biogen were worth $257,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in BIIB. State Street Corp increased its holdings in shares of Biogen by 3.5% during the third quarter. State Street Corp now owns 7,344,960 shares of the biotechnology company’s stock valued at $1,423,747,000 after purchasing an additional 248,942 shares during the period. Geode Capital Management LLC increased its stake in Biogen by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 3,613,020 shares of the biotechnology company’s stock valued at $698,062,000 after buying an additional 47,055 shares during the period. Pacer Advisors Inc. raised its position in shares of Biogen by 13,574.7% during the 4th quarter. Pacer Advisors Inc. now owns 2,667,531 shares of the biotechnology company’s stock worth $407,919,000 after buying an additional 2,648,024 shares in the last quarter. Amundi lifted its stake in shares of Biogen by 35.6% in the 4th quarter. Amundi now owns 1,216,990 shares of the biotechnology company’s stock worth $183,461,000 after acquiring an additional 319,478 shares during the period. Finally, RA Capital Management L.P. boosted its holdings in shares of Biogen by 20.6% in the third quarter. RA Capital Management L.P. now owns 1,184,456 shares of the biotechnology company’s stock valued at $229,595,000 after acquiring an additional 202,317 shares in the last quarter. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Biogen Trading Down 0.1 %

Shares of NASDAQ:BIIB opened at $139.98 on Friday. The firm has a fifty day moving average of $143.35 and a two-hundred day moving average of $165.02. The company has a quick ratio of 0.90, a current ratio of 1.35 and a debt-to-equity ratio of 0.27. Biogen Inc. has a 12-month low of $128.51 and a 12-month high of $238.00. The firm has a market capitalization of $20.49 billion, a P/E ratio of 12.51, a price-to-earnings-growth ratio of 1.51 and a beta of 0.01.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.43 by $0.01. Biogen had a return on equity of 14.98% and a net margin of 16.87%. On average, equities analysts expect that Biogen Inc. will post 15.83 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on BIIB shares. HC Wainwright cut their target price on Biogen from $300.00 to $241.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Royal Bank of Canada cut their price objective on Biogen from $231.00 to $225.00 and set an “outperform” rating for the company in a report on Thursday, February 13th. William Blair reaffirmed an “outperform” rating on shares of Biogen in a report on Monday, January 13th. StockNews.com downgraded shares of Biogen from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 28th. Finally, Morgan Stanley reduced their price objective on shares of Biogen from $192.00 to $157.00 and set an “equal weight” rating for the company in a research report on Thursday, February 13th. Seventeen investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, Biogen currently has an average rating of “Hold” and a consensus target price of $213.33.

Insider Activity

In related news, Director Stephen A. Sherwin sold 8,760 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $150.02, for a total transaction of $1,314,175.20. Following the transaction, the director now owns 11,318 shares of the company’s stock, valued at approximately $1,697,926.36. This trade represents a 43.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.16% of the stock is owned by corporate insiders.

About Biogen

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.