Capital Investment Advisors LLC Sells 117 Shares of Biogen Inc. (NASDAQ:BIIB)

Capital Investment Advisors LLC lowered its stake in shares of Biogen Inc. (NASDAQ:BIIBGet Rating) by 5.5% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,004 shares of the biotechnology company’s stock after selling 117 shares during the quarter. Capital Investment Advisors LLC’s holdings in Biogen were worth $409,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Primecap Management Co. CA raised its stake in shares of Biogen by 0.5% in the first quarter. Primecap Management Co. CA now owns 15,834,606 shares of the biotechnology company’s stock valued at $3,334,768,000 after purchasing an additional 77,201 shares in the last quarter. BlackRock Inc. raised its stake in shares of Biogen by 2.8% in the first quarter. BlackRock Inc. now owns 14,121,097 shares of the biotechnology company’s stock valued at $2,973,904,000 after purchasing an additional 384,143 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Biogen by 1.6% in the first quarter. Vanguard Group Inc. now owns 11,720,584 shares of the biotechnology company’s stock valued at $2,468,356,000 after purchasing an additional 183,285 shares in the last quarter. State Street Corp raised its stake in shares of Biogen by 2.8% in the first quarter. State Street Corp now owns 7,208,906 shares of the biotechnology company’s stock valued at $1,518,196,000 after purchasing an additional 197,400 shares in the last quarter. Finally, Wellington Management Group LLP raised its stake in shares of Biogen by 1.1% in the first quarter. Wellington Management Group LLP now owns 6,249,526 shares of the biotechnology company’s stock valued at $1,316,151,000 after purchasing an additional 65,071 shares in the last quarter. Institutional investors own 83.45% of the company’s stock.

Biogen Trading Up 0.7 %

NASDAQ BIIB opened at $208.26 on Monday. The business’s 50-day moving average price is $210.00 and its two-hundred day moving average price is $207.17. Biogen Inc. has a 12 month low of $187.16 and a 12 month high of $304.21. The firm has a market capitalization of $30.22 billion, a PE ratio of 14.85, a price-to-earnings-growth ratio of 0.95 and a beta of 0.43. The company has a current ratio of 1.94, a quick ratio of 1.68 and a debt-to-equity ratio of 0.53.

Biogen (NASDAQ:BIIBGet Rating) last released its quarterly earnings results on Wednesday, July 20th. The biotechnology company reported $5.25 EPS for the quarter, beating analysts’ consensus estimates of $4.09 by $1.16. Biogen had a return on equity of 22.36% and a net margin of 19.36%. The firm had revenue of $2.59 billion for the quarter, compared to analyst estimates of $2.48 billion. During the same quarter in the previous year, the company posted $5.68 EPS. The business’s revenue was down 6.7% on a year-over-year basis. On average, analysts expect that Biogen Inc. will post 16.45 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. UBS Group cut their target price on Biogen to $238.00 in a research note on Friday, July 22nd. Cowen dropped their price objective on Biogen from $285.00 to $270.00 and set an “outperform” rating for the company in a research note on Thursday, July 21st. StockNews.com upgraded Biogen from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, July 27th. Needham & Company LLC dropped their price objective on Biogen from $262.00 to $250.00 and set a “buy” rating for the company in a research note on Thursday, July 21st. Finally, Guggenheim dropped their price objective on Biogen to $190.00 in a research note on Friday, July 22nd. Thirteen investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $257.36.

Biogen Profile

(Get Rating)

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

Further Reading

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:BIIBGet Rating).

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.