Bank of Montreal Can Has $32.32 Million Holdings in Biogen Inc. (NASDAQ:BIIB)

Bank of Montreal Can lessened its holdings in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) by 3.9% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 211,336 shares of the biotechnology company's stock after selling 8,575 shares during the period. Bank of Montreal Can owned 0.15% of Biogen worth $32,318,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BIIB. Cerity Partners LLC raised its stake in shares of Biogen by 183.8% in the fourth quarter. Cerity Partners LLC now owns 22,091 shares of the biotechnology company's stock worth $3,520,000 after acquiring an additional 14,306 shares during the last quarter. FMR LLC raised its position in Biogen by 98.7% in the 4th quarter. FMR LLC now owns 757,570 shares of the biotechnology company's stock worth $115,848,000 after purchasing an additional 376,356 shares during the last quarter. Quadrant Capital Group LLC raised its position in Biogen by 64.8% in the 4th quarter. Quadrant Capital Group LLC now owns 669 shares of the biotechnology company's stock worth $102,000 after purchasing an additional 263 shares during the last quarter. Ilmarinen Mutual Pension Insurance Co lifted its holdings in Biogen by 33.3% during the 4th quarter. Ilmarinen Mutual Pension Insurance Co now owns 24,000 shares of the biotechnology company's stock worth $3,670,000 after buying an additional 6,000 shares in the last quarter. Finally, Aviva PLC boosted its position in Biogen by 373.4% in the 4th quarter. Aviva PLC now owns 87,731 shares of the biotechnology company's stock valued at $13,416,000 after buying an additional 69,199 shares during the last quarter. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

Biogen Stock Up 3.6 %

Shares of Biogen stock traded up $4.09 on Monday, reaching $119.26. 1,687,602 shares of the company were exchanged, compared to its average volume of 1,354,737. The company has a market capitalization of $17.46 billion, a price-to-earnings ratio of 10.66, a PEG ratio of 1.51 and a beta of 0.06. The company has a current ratio of 1.35, a quick ratio of 0.90 and a debt-to-equity ratio of 0.27. Biogen Inc. has a one year low of $110.04 and a one year high of $238.00. The company has a 50-day moving average of $136.74 and a 200 day moving average of $153.74.

Biogen (NASDAQ:BIIB - Get Free Report) last posted its quarterly earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.43 by $0.01. Biogen had a net margin of 16.87% and a return on equity of 14.98%. On average, equities research analysts forecast that Biogen Inc. will post 15.83 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Wells Fargo & Company cut their price target on Biogen from $165.00 to $140.00 and set an "equal weight" rating on the stock in a research note on Thursday, February 13th. Piper Sandler reaffirmed a "neutral" rating and issued a $135.00 target price (down previously from $138.00) on shares of Biogen in a research note on Tuesday, February 18th. Citigroup dropped their price target on shares of Biogen from $160.00 to $145.00 and set a "neutral" rating for the company in a research note on Thursday, February 13th. Stifel Nicolaus cut shares of Biogen from a "buy" rating to a "hold" rating and set a $175.00 price objective on the stock. in a research note on Monday, December 16th. Finally, The Goldman Sachs Group cut their price target on Biogen from $281.00 to $245.00 and set a "buy" rating on the stock in a research note on Thursday, February 13th. Eighteen analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $213.15.

Insider Activity at Biogen

In other Biogen news, Director Stephen A. Sherwin sold 8,760 shares of the company's stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $150.02, for a total value of $1,314,175.20. Following the sale, the director now owns 11,318 shares in the company, valued at $1,697,926.36. This represents a 43.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.16% of the stock is currently owned by company insiders.

Biogen Profile

Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases in the United States, Europe, Germany, Asia, and internationally. The company provides TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for multiple sclerosis (MS); SPINRAZA for spinal muscular atrophy; ADUHELM to treat Alzheimer's disease; FUMADERM to treat plaque psoriasis; BENEPALI, an etanercept biosimilar referencing ENBREL; IMRALDI, an adalimumab biosimilar referencing HUMIRA; FLIXABI, an infliximab biosimilar referencing REMICADE; and BYOOVIZ, a ranibizumab biosimilar referencing LUCENTIS.