National Pension Service Has $66.61 Million Stake in Biogen Inc (BIIB)

National Pension Service raised its stake in Biogen Inc (NASDAQ:BIIB) by 5.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 205,127 shares of the biotechnology company’s stock after buying an additional 11,434 shares during the period. National Pension Service owned approximately 0.10% of Biogen worth $66,607,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Oregon Public Employees Retirement Fund increased its stake in shares of Biogen by 27,620.0% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 14,309,047 shares of the biotechnology company’s stock worth $48,000 after acquiring an additional 14,257,427 shares during the last quarter. Capital World Investors increased its stake in shares of Biogen by 503.2% in the third quarter. Capital World Investors now owns 2,473,708 shares of the biotechnology company’s stock worth $873,986,000 after acquiring an additional 2,063,598 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of Biogen by 163.2% in the third quarter. Renaissance Technologies LLC now owns 846,075 shares of the biotechnology company’s stock worth $298,927,000 after acquiring an additional 524,575 shares during the last quarter. Prudential Financial Inc. increased its stake in shares of Biogen by 158.4% in the fourth quarter. Prudential Financial Inc. now owns 689,208 shares of the biotechnology company’s stock worth $207,397,000 after acquiring an additional 422,529 shares during the last quarter. Finally, Putnam Investments LLC increased its stake in shares of Biogen by 279.4% in the third quarter. Putnam Investments LLC now owns 496,498 shares of the biotechnology company’s stock worth $175,418,000 after acquiring an additional 365,621 shares during the last quarter. 89.19% of the stock is currently owned by institutional investors.

In related news, Director Alexander J. Denner purchased 30,000 shares of the firm’s stock in a transaction dated Wednesday, January 30th. The shares were acquired at an average cost of $324.86 per share, with a total value of $9,745,800.00. Following the completion of the purchase, the director now directly owns 10,909 shares of the company’s stock, valued at $3,543,897.74. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert W. Pangia sold 6,114 shares of the stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $328.55, for a total transaction of $2,008,754.70. Following the sale, the director now directly owns 24,701 shares in the company, valued at $8,115,513.55. The disclosure for this sale can be found here. Company insiders own 0.29% of the company’s stock.

A number of equities research analysts recently issued reports on BIIB shares. Cowen decreased their price objective on shares of Biogen from $400.00 to $275.00 and set an “outperform” rating for the company in a report on Thursday, March 21st. Piper Jaffray Companies decreased their price objective on shares of Biogen from $402.00 to $280.00 and set an “overweight” rating for the company in a report on Thursday, March 21st. Mizuho set a $427.00 price objective on shares of Biogen and gave the stock a “buy” rating in a report on Tuesday, January 29th. JPMorgan Chase & Co. restated a “buy” rating on shares of Biogen in a report on Thursday, January 10th. Finally, BidaskClub upgraded shares of Biogen from a “buy” rating to a “strong-buy” rating in a report on Monday, January 7th. Two research analysts have rated the stock with a sell rating, twenty-two have issued a hold rating and eight have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $295.04.

NASDAQ:BIIB traded down $2.13 during mid-day trading on Monday, hitting $232.37. The company’s stock had a trading volume of 1,521,190 shares, compared to its average volume of 2,063,774. The firm has a market capitalization of $46.13 billion, a PE ratio of 8.87, a price-to-earnings-growth ratio of 0.91 and a beta of 1.04. The company has a quick ratio of 2.04, a current ratio of 2.32 and a debt-to-equity ratio of 0.46. Biogen Inc has a fifty-two week low of $216.12 and a fifty-two week high of $388.67.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Tuesday, January 29th. The biotechnology company reported $6.99 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $6.72 by $0.27. The company had revenue of $3.53 billion during the quarter, compared to analyst estimates of $3.39 billion. Biogen had a net margin of 32.94% and a return on equity of 40.53%. The company’s revenue was up 6.6% on a year-over-year basis. During the same quarter last year, the business posted $5.26 earnings per share. On average, research analysts expect that Biogen Inc will post 28.81 EPS for the current year.

COPYRIGHT VIOLATION NOTICE: “National Pension Service Has $66.61 Million Stake in Biogen Inc (BIIB)” was reported by Baseball Daily News and is the property of of Baseball Daily News. If you are reading this piece of content on another site, it was copied illegally and republished in violation of US & international copyright and trademark laws. The correct version of this piece of content can be viewed at https://www.baseballdailydigest.com/news/2019/04/15/national-pension-service-has-66-61-million-stake-in-biogen-inc-biib.html.

Biogen Profile

Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases worldwide. The company offers TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for the treatment of multiple sclerosis (MS); SPINRAZA for the treatment of spinal muscular atrophy; and FUMADERM for the treatment of plaque psoriasis.

Read More: Intrinsic Value and Stock Selection

Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

Receive News & Ratings for Biogen Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Biogen and related companies with MarketBeat.com's FREE daily email newsletter.