Biogen Inc (BIIB) Shares Sold by State Board of Administration of Florida Retirement System

State Board of Administration of Florida Retirement System decreased its position in shares of Biogen Inc (NASDAQ:BIIB) by 0.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 273,980 shares of the biotechnology company’s stock after selling 2,290 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in Biogen were worth $64,763,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Boston Advisors LLC increased its stake in shares of Biogen by 2.9% in the fourth quarter. Boston Advisors LLC now owns 1,091 shares of the biotechnology company’s stock worth $328,000 after acquiring an additional 31 shares during the period. OLD Second National Bank of Aurora lifted its holdings in Biogen by 0.4% during the fourth quarter. OLD Second National Bank of Aurora now owns 7,754 shares of the biotechnology company’s stock valued at $2,333,000 after purchasing an additional 33 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. lifted its holdings in Biogen by 0.3% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 13,016 shares of the biotechnology company’s stock valued at $3,917,000 after purchasing an additional 39 shares in the last quarter. Cigna Investments Inc. New lifted its holdings in Biogen by 0.5% during the fourth quarter. Cigna Investments Inc. New now owns 8,396 shares of the biotechnology company’s stock valued at $2,526,000 after purchasing an additional 39 shares in the last quarter. Finally, Watch Point Trust Co lifted its holdings in Biogen by 0.6% during the fourth quarter. Watch Point Trust Co now owns 6,549 shares of the biotechnology company’s stock valued at $1,971,000 after purchasing an additional 41 shares in the last quarter. 90.02% of the stock is currently owned by institutional investors.

In other news, Director Robert W. Pangia sold 6,114 shares of the company’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $328.55, for a total transaction of $2,008,754.70. Following the completion of the transaction, the director now directly owns 24,701 shares of the company’s stock, valued at $8,115,513.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Alexander J. Denner acquired 50,342 shares of Biogen stock in a transaction dated Tuesday, April 30th. The shares were purchased at an average cost of $229.25 per share, with a total value of $11,540,903.50. Following the completion of the transaction, the director now directly owns 10,909 shares of the company’s stock, valued at $2,500,888.25. The disclosure for this purchase can be found here. Insiders have bought 173,035 shares of company stock worth $39,759,632 over the last three months. Corporate insiders own 0.29% of the company’s stock.

NASDAQ BIIB traded down $4.17 during trading hours on Friday, hitting $224.30. The company had a trading volume of 22,405 shares, compared to its average volume of 2,113,927. Biogen Inc has a fifty-two week low of $216.12 and a fifty-two week high of $388.67. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.84 and a quick ratio of 2.60. The firm has a market capitalization of $44.41 billion, a PE ratio of 8.51, a P/E/G ratio of 0.87 and a beta of 1.01.

Biogen (NASDAQ:BIIB) last issued its earnings results on Wednesday, April 24th. The biotechnology company reported $6.98 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $6.88 by $0.10. Biogen had a return on equity of 41.39% and a net margin of 33.79%. The firm had revenue of $3.49 billion for the quarter, compared to analyst estimates of $3.38 billion. During the same period last year, the company earned $6.05 earnings per share. The firm’s revenue for the quarter was up 11.5% on a year-over-year basis. Equities research analysts expect that Biogen Inc will post 29.51 earnings per share for the current fiscal year.

Several equities analysts have issued reports on the stock. Oppenheimer set a $372.00 price objective on shares of Biogen and gave the company a “buy” rating in a report on Friday, January 25th. Stifel Nicolaus cut Biogen from a “buy” rating to a “hold” rating and reduced their target price for the company from $397.00 to $346.00 in a research note on Thursday, February 21st. Citigroup increased their target price on Biogen from $372.00 to $380.00 and gave the company an “outperform” rating in a research note on Wednesday, January 30th. Leerink Swann increased their target price on Biogen from $328.00 to $341.00 and gave the company a “market perform” rating in a research note on Wednesday, January 30th. Finally, Mizuho set a $427.00 target price on Biogen and gave the company a “buy” rating in a research note on Tuesday, January 29th. Two analysts have rated the stock with a sell rating, twenty-three have issued a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $288.96.

TRADEMARK VIOLATION NOTICE: This article was first published by Baseball Daily News and is the property of of Baseball Daily News. If you are accessing this article on another publication, it was illegally stolen and republished in violation of US and international trademark and copyright legislation. The original version of this article can be viewed at https://www.baseballdailydigest.com/news/2019/05/10/biogen-inc-biib-shares-sold-by-state-board-of-administration-of-florida-retirement-system.html.

About Biogen

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.

See Also: Reverse Stock Split

Want to see what other hedge funds are holding BIIB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Biogen Inc (NASDAQ:BIIB).

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.