Guardian Investment Management Reduces Stake in Biogen Inc. (NASDAQ:BIIB)

Guardian Investment Management trimmed its holdings in Biogen Inc. (NASDAQ:BIIB - Free Report) by 28.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 7,300 shares of the biotechnology company's stock after selling 2,865 shares during the quarter. Guardian Investment Management's holdings in Biogen were worth $1,116,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Grandfield & Dodd LLC grew its position in Biogen by 5.2% during the 3rd quarter. Grandfield & Dodd LLC now owns 1,261 shares of the biotechnology company's stock worth $244,000 after acquiring an additional 62 shares during the last quarter. Quintet Private Bank Europe S.A. grew its holdings in shares of Biogen by 9.7% in the third quarter. Quintet Private Bank Europe S.A. now owns 710 shares of the biotechnology company's stock worth $138,000 after purchasing an additional 63 shares during the last quarter. TD Private Client Wealth LLC increased its stake in shares of Biogen by 25.0% in the third quarter. TD Private Client Wealth LLC now owns 385 shares of the biotechnology company's stock worth $75,000 after buying an additional 77 shares during the period. Huntington National Bank raised its holdings in Biogen by 3.5% during the 3rd quarter. Huntington National Bank now owns 2,308 shares of the biotechnology company's stock valued at $447,000 after buying an additional 79 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its position in Biogen by 1.6% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 5,018 shares of the biotechnology company's stock valued at $767,000 after buying an additional 79 shares during the period. Hedge funds and other institutional investors own 87.93% of the company's stock.

Biogen Price Performance

Shares of BIIB traded down $0.68 during mid-day trading on Monday, reaching $140.55. The stock had a trading volume of 1,149,845 shares, compared to its average volume of 1,295,436. The firm has a market cap of $20.48 billion, a price-to-earnings ratio of 12.70, a PEG ratio of 1.69 and a beta of -0.07. Biogen Inc. has a 12 month low of $140.05 and a 12 month high of $252.17. The business has a fifty day moving average of $154.27 and a 200 day moving average of $184.26. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.80 and a current ratio of 1.26.

Biogen (NASDAQ:BIIB - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share for the quarter, topping analysts' consensus estimates of $3.77 by $0.31. Biogen had a return on equity of 14.98% and a net margin of 16.81%. The firm had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.43 billion. During the same quarter in the prior year, the company posted $4.36 earnings per share. The business's quarterly revenue was down 2.5% compared to the same quarter last year. Equities analysts predict that Biogen Inc. will post 16.43 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on BIIB shares. Royal Bank of Canada lowered their price objective on shares of Biogen from $292.00 to $269.00 and set an "outperform" rating for the company in a research note on Friday, October 4th. Morgan Stanley cut Biogen from an "overweight" rating to an "equal weight" rating and reduced their target price for the company from $285.00 to $204.00 in a research note on Thursday, October 31st. Stifel Nicolaus lowered Biogen from a "buy" rating to a "hold" rating and set a $175.00 price target for the company. in a research note on Monday, December 16th. Barclays reduced their price objective on shares of Biogen from $190.00 to $180.00 and set an "equal weight" rating on the stock in a research report on Thursday, October 31st. Finally, Wells Fargo & Company dropped their target price on shares of Biogen from $190.00 to $165.00 and set an "equal weight" rating for the company in a research report on Friday, January 10th. Sixteen analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $230.00.

About Biogen

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.