Seizert Capital Partners LLC Has $38.90 Million Position in Biogen Inc (BIIB)

Seizert Capital Partners LLC boosted its holdings in Biogen Inc (NASDAQ:BIIB) by 63.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 164,547 shares of the biotechnology company’s stock after buying an additional 63,895 shares during the period. Biogen makes up about 1.7% of Seizert Capital Partners LLC’s investment portfolio, making the stock its 22nd largest position. Seizert Capital Partners LLC’s holdings in Biogen were worth $38,896,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of BIIB. Oregon Public Employees Retirement Fund increased its position in Biogen by 27,620.0% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 14,309,047 shares of the biotechnology company’s stock worth $48,000 after buying an additional 14,257,427 shares during the period. Norges Bank bought a new position in Biogen in the 4th quarter worth approximately $644,940,000. Boston Partners increased its position in Biogen by 424.3% in the 1st quarter. Boston Partners now owns 922,718 shares of the biotechnology company’s stock worth $218,113,000 after buying an additional 746,711 shares during the period. Prudential Financial Inc. increased its position in Biogen by 158.4% in the 4th quarter. Prudential Financial Inc. now owns 689,208 shares of the biotechnology company’s stock worth $207,397,000 after buying an additional 422,529 shares during the period. Finally, Parnassus Investments CA increased its position in Biogen by 536.4% in the 4th quarter. Parnassus Investments CA now owns 350,000 shares of the biotechnology company’s stock worth $105,322,000 after buying an additional 295,000 shares during the period. 90.39% of the stock is currently owned by institutional investors.

Shares of NASDAQ:BIIB opened at $229.28 on Friday. Biogen Inc has a fifty-two week low of $216.12 and a fifty-two week high of $388.67. The firm has a market capitalization of $44.46 billion, a price-to-earnings ratio of 8.75, a P/E/G ratio of 0.91 and a beta of 1.01. The company has a current ratio of 2.84, a quick ratio of 2.60 and a debt-to-equity ratio of 0.43.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings results on Wednesday, April 24th. The biotechnology company reported $6.98 earnings per share for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $3.38 billion. During the same period in the prior year, the business posted $6.05 earnings per share. The business’s revenue was up 11.5% compared to the same quarter last year. As a group, research analysts predict that Biogen Inc will post 29.58 EPS for the current fiscal year.

Several research analysts have commented on the company. Argus reaffirmed a “hold” rating on shares of Biogen in a research report on Tuesday, May 7th. Cantor Fitzgerald reaffirmed a “hold” rating and issued a $250.00 price target on shares of Biogen in a research report on Wednesday, March 27th. Atlantic Securities downgraded Biogen from an “overweight” rating to a “neutral” rating in a research report on Thursday, March 21st. UBS Group downgraded Biogen from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $395.00 to $242.00 in a research report on Friday, March 22nd. Finally, JPMorgan Chase & Co. downgraded Biogen from an “overweight” rating to a “neutral” rating and set a $244.00 price target on the stock. in a research report on Thursday, March 21st. Two research analysts have rated the stock with a sell rating, twenty-three have given a hold rating and seven have given a buy rating to the stock. Biogen currently has a consensus rating of “Hold” and a consensus target price of $288.96.

In other Biogen news, Director Alexander J. Denner acquired 118,342 shares of Biogen stock in a transaction on Thursday, May 2nd. The shares were bought at an average price of $229.94 per share, with a total value of $27,211,559.48. Following the completion of the purchase, the director now owns 10,909 shares in the company, valued at $2,508,415.46. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Robert W. Pangia sold 6,114 shares of the business’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $328.55, for a total value of $2,008,754.70. Following the completion of the transaction, the director now directly owns 24,701 shares in the company, valued at approximately $8,115,513.55. The disclosure for this sale can be found here. In the last three months, insiders acquired 173,035 shares of company stock worth $39,759,632. Insiders own 0.29% of the company’s stock.

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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.

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Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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