Schroder Investment Management Group Sells 21,444 Shares of Biogen Inc. (NASDAQ:BIIB)

Schroder Investment Management Group decreased its holdings in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) by 33.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 42,615 shares of the biotechnology company's stock after selling 21,444 shares during the period. Schroder Investment Management Group's holdings in Biogen were worth $6,400,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Larson Financial Group LLC increased its stake in Biogen by 640.9% during the 4th quarter. Larson Financial Group LLC now owns 163 shares of the biotechnology company's stock valued at $25,000 after purchasing an additional 141 shares in the last quarter. Lee Danner & Bass Inc. bought a new stake in shares of Biogen during the fourth quarter valued at approximately $25,000. OFI Invest Asset Management purchased a new position in Biogen in the 4th quarter worth approximately $32,000. SRS Capital Advisors Inc. bought a new position in Biogen in the 4th quarter valued at approximately $33,000. Finally, Golden State Wealth Management LLC purchased a new stake in Biogen during the 4th quarter valued at $41,000. 87.93% of the stock is currently owned by hedge funds and other institutional investors.

Biogen Price Performance

Shares of Biogen stock traded down $3.79 on Monday, hitting $119.19. 2,455,852 shares of the company traded hands, compared to its average volume of 1,329,456. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.90 and a current ratio of 1.35. The business has a 50-day simple moving average of $140.68 and a 200 day simple moving average of $157.34. Biogen Inc. has a 52 week low of $117.56 and a 52 week high of $238.00. The stock has a market capitalization of $17.45 billion, a P/E ratio of 10.65, a price-to-earnings-growth ratio of 1.51 and a beta of 0.06.

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Biogen (NASDAQ:BIIB - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 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%. Research analysts expect that Biogen Inc. will post 15.83 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on BIIB. Royal Bank of Canada lowered their price target on Biogen from $231.00 to $225.00 and set an "outperform" rating on the stock in a report on Thursday, February 13th. HC Wainwright lowered their target price on shares of Biogen from $300.00 to $241.00 and set a "buy" rating on the stock in a research note on Thursday, February 13th. Bank Of America (Bofa) reduced their price target on shares of Biogen from $178.00 to $163.00 and set a "neutral" rating for the company in a research note on Tuesday, February 11th. Needham & Company LLC restated a "hold" rating on shares of Biogen in a research report on Thursday, February 13th. Finally, Sanford C. Bernstein initiated coverage on shares of Biogen in a research report on Tuesday, February 11th. They issued a "market perform" rating and a $160.00 target price for the company. Eighteen research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $213.33.

Insider Activity at Biogen

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

Biogen Company 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.