TCI Wealth Advisors Inc. Reduces Stock Position in Biogen Inc (NASDAQ:BIIB)

TCI Wealth Advisors Inc. cut its stake in Biogen Inc (NASDAQ:BIIB) by 8.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,695 shares of the biotechnology company’s stock after selling 530 shares during the period. TCI Wealth Advisors Inc.’s holdings in Biogen were worth $1,332,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Dillon & Associates Inc. grew its stake in Biogen by 1.6% in the 1st quarter. Dillon & Associates Inc. now owns 2,866 shares of the biotechnology company’s stock worth $676,000 after acquiring an additional 45 shares during the period. First National Bank of Omaha grew its stake in Biogen by 0.3% in the 2nd quarter. First National Bank of Omaha now owns 16,632 shares of the biotechnology company’s stock worth $3,889,000 after acquiring an additional 45 shares during the period. Fulton Bank N.A. grew its stake in Biogen by 4.1% in the 2nd quarter. Fulton Bank N.A. now owns 1,199 shares of the biotechnology company’s stock worth $281,000 after acquiring an additional 47 shares during the period. Sigma Investment Counselors Inc. grew its stake in Biogen by 4.9% in the 2nd quarter. Sigma Investment Counselors Inc. now owns 1,023 shares of the biotechnology company’s stock worth $239,000 after acquiring an additional 48 shares during the period. Finally, Columbus Macro LLC grew its stake in Biogen by 3.0% in the 2nd quarter. Columbus Macro LLC now owns 1,802 shares of the biotechnology company’s stock worth $421,000 after acquiring an additional 52 shares during the period. 87.33% of the stock is owned by institutional investors.

Shares of NASDAQ:BIIB traded down $3.16 during midday trading on Friday, hitting $239.90. 567,113 shares of the company’s stock traded hands, compared to its average volume of 1,249,192. The company has a current ratio of 2.46, a quick ratio of 2.22 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $44.83 billion, a P/E ratio of 9.16, a PEG ratio of 0.89 and a beta of 0.96. The firm has a fifty day moving average price of $234.87. Biogen Inc has a twelve month low of $216.12 and a twelve month high of $358.41.

Biogen (NASDAQ:BIIB) last posted its earnings results on Tuesday, July 23rd. The biotechnology company reported $9.15 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $7.58 by $1.57. The business had revenue of $3.62 billion for the quarter, compared to analyst estimates of $3.48 billion. Biogen had a net margin of 37.62% and a return on equity of 44.89%. The business’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $5.80 EPS. On average, equities research analysts forecast that Biogen Inc will post 32.32 EPS for the current fiscal year.

BIIB has been the subject of several recent analyst reports. Argus reaffirmed a “hold” rating on shares of Biogen in a research note on Tuesday, May 7th. TheStreet cut shares of Biogen from a “b-” rating to a “c+” rating in a research note on Thursday, April 4th. Citigroup reaffirmed a “neutral” rating on shares of Biogen in a research note on Thursday, May 23rd. Mizuho reaffirmed a “hold” rating on shares of Biogen in a research note on Thursday, July 25th. Finally, Raymond James assumed coverage on shares of Biogen in a research note on Wednesday, April 10th. They issued a “market perform” rating for the company. Four equities research analysts have rated the stock with a sell rating, twenty-three have issued a hold rating and five have given a buy rating to the company. Biogen has a consensus rating of “Hold” and an average target price of $269.74.

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.

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Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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