Pensions

British Airways Pensions Investment Management Ltd Sells 86,675 Shares of Biogen Inc. (BIIB)

British Airways Pensions Investment Management Ltd cut its position in shares of Biogen Inc. (NASDAQ:BIIB) by 72.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,374 shares of the biotechnology company’s stock after selling 86,675 shares during the period. British Airways Pensions Investment Management Ltd’s holdings in Biogen were worth $9,051,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. BlackRock Inc. raised its position in shares of Biogen by 2,762.0% in the first quarter. BlackRock Inc. now owns 17,692,259 shares of the biotechnology company’s stock valued at $4,837,418,000 after buying an additional 17,074,075 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Biogen by 2.4% in the first quarter. Vanguard Group Inc. now owns 14,352,490 shares of the biotechnology company’s stock valued at $3,924,258,000 after buying an additional 342,568 shares during the last quarter. State Street Corp raised its position in shares of Biogen by 2.3% in the first quarter. State Street Corp now owns 9,580,383 shares of the biotechnology company’s stock valued at $2,619,469,000 after buying an additional 219,502 shares during the last quarter. Clearbridge Investments LLC raised its position in shares of Biogen by 4.0% in the first quarter. Clearbridge Investments LLC now owns 9,121,025 shares of the biotechnology company’s stock valued at $2,493,871,000 after buying an additional 351,224 shares during the last quarter. Finally, Alliancebernstein L.P. raised its position in shares of Biogen by 11.1% in the first quarter. Alliancebernstein L.P. now owns 2,937,319 shares of the biotechnology company’s stock valued at $803,122,000 after buying an additional 294,308 shares during the last quarter. Institutional investors own 88.38% of the company’s stock.

Shares of Biogen Inc. (NASDAQ BIIB) opened at 285.06 on Friday. The stock’s 50 day moving average is $284.39 and its 200-day moving average is $274.87. Biogen Inc. has a 52-week low of $244.28 and a 52-week high of $329.83. The firm has a market cap of $60.27 billion, a P/E ratio of 18.71 and a beta of 0.79.

Biogen (NASDAQ:BIIB) last posted its earnings results on Tuesday, July 25th. The biotechnology company reported $5.04 earnings per share for the quarter, topping the Zacks’ consensus estimate of $4.36 by $0.68. The company had revenue of $3.08 billion during the quarter, compared to analyst estimates of $2.81 billion. Biogen had a net margin of 28.10% and a return on equity of 37.42%. Biogen’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same period in the prior year, the business posted $5.21 earnings per share. Equities analysts anticipate that Biogen Inc. will post $21.44 earnings per share for the current fiscal year.

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Several research analysts have recently weighed in on BIIB shares. Vetr lowered shares of Biogen from a “strong-buy” rating to a “buy” rating and set a $301.89 price objective on the stock. in a report on Tuesday, May 2nd. ValuEngine upgraded shares of Biogen from a “hold” rating to a “buy” rating in a report on Thursday, June 22nd. Piper Jaffray Companies set a $442.00 price objective on shares of Biogen and gave the stock a “buy” rating in a report on Monday, May 15th. Deutsche Bank AG started coverage on shares of Biogen in a report on Friday, June 23rd. They set a “buy” rating and a $315.00 price objective on the stock. Finally, Goldman Sachs Group, Inc. (The) upgraded shares of Biogen from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $228.00 to $338.00 in a report on Wednesday, July 26th. Eleven analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $328.81.

In other news, EVP Susan H. Alexander sold 4,974 shares of the stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $290.01, for a total transaction of $1,442,509.74. Following the completion of the sale, the executive vice president now directly owns 22,258 shares in the company, valued at $6,455,042.58. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Susan H. Alexander sold 7,758 shares of the stock in a transaction dated Wednesday, July 19th. The stock was sold at an average price of $285.00, for a total transaction of $2,211,030.00. Following the sale, the executive vice president now owns 27,232 shares of the company’s stock, valued at $7,761,120. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 13,816 shares of company stock valued at $3,931,380. 0.32% of the stock is currently owned by company insiders.

About Biogen

Biogen Inc is a biopharmaceutical company. The Company focuses on discovering, developing, manufacturing and delivering therapies to people living with serious neurological, rare and autoimmune diseases. The Company markets products, including TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, ZINBRYTA and FAMPYRA for multiple sclerosis (MS), FUMADERM for the treatment of severe plaque psoriasis and SPINRAZA for the treatment of spinal muscular atrophy (SMA).

Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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