Seizert Capital Partners LLC Raises Stock Holdings in Biogen Inc. (NASDAQ:BIIB)

Seizert Capital Partners LLC lifted its position in Biogen Inc. (NASDAQ:BIIB - Free Report) by 45.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,004 shares of the biotechnology company's stock after acquiring an additional 3,418 shares during the quarter. Seizert Capital Partners LLC's holdings in Biogen were worth $2,133,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Mizuho Securities USA LLC boosted its position in Biogen by 2,715.9% in the third quarter. Mizuho Securities USA LLC now owns 316,000 shares of the biotechnology company's stock worth $61,253,000 after purchasing an additional 304,778 shares during the last quarter. Simplify Asset Management Inc. increased its stake in shares of Biogen by 58.1% during the 3rd quarter. Simplify Asset Management Inc. now owns 2,470 shares of the biotechnology company's stock worth $479,000 after purchasing an additional 908 shares during the last quarter. Empowered Funds LLC lifted its stake in shares of Biogen by 455.8% during the 3rd quarter. Empowered Funds LLC now owns 18,908 shares of the biotechnology company's stock valued at $3,665,000 after buying an additional 15,506 shares in the last quarter. Empirical Finance LLC grew its position in shares of Biogen by 2.0% in the third quarter. Empirical Finance LLC now owns 5,070 shares of the biotechnology company's stock valued at $983,000 after purchasing an additional 101 shares in the last quarter. Finally, Cornercap Investment Counsel Inc. bought a new stake in shares of Biogen during the 3rd quarter valued at $1,369,000. 87.93% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, insider Priya Singhal sold 431 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $204.22, for a total value of $88,018.82. Following the transaction, the insider now owns 5,316 shares in the company, valued at $1,085,633.52. This represents a 7.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.16% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Wells Fargo & Company cut their price target on shares of Biogen from $240.00 to $225.00 and set an "equal weight" rating for the company in a report on Friday, August 2nd. Mizuho lowered their target price on shares of Biogen from $277.00 to $251.00 and set an "outperform" rating on the stock in a research note on Tuesday, August 6th. Scotiabank cut their price target on shares of Biogen from $275.00 to $244.00 and set a "sector outperform" rating for the company in a research note on Friday, August 2nd. TD Cowen lowered their price objective on shares of Biogen from $300.00 to $275.00 and set a "buy" rating on the stock in a research report on Thursday, October 31st. Finally, Morgan Stanley cut shares of Biogen from an "overweight" rating to an "equal weight" rating and reduced their price target for the company from $285.00 to $204.00 in a research report on Thursday, October 31st. Twelve analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $258.96.

Biogen Stock Down 3.0 %

BIIB stock traded down $4.90 during midday trading on Friday, hitting $159.99. The company's stock had a trading volume of 1,917,074 shares, compared to its average volume of 1,606,646. The company has a market cap of $23.31 billion, a PE ratio of 14.45, a P/E/G ratio of 1.51 and a beta of -0.06. The firm's 50-day moving average is $185.99 and its 200-day moving average is $207.33. Biogen Inc. has a 12 month low of $159.60 and a 12 month high of $268.30. The company has a current ratio of 1.26, a quick ratio of 0.80 and a debt-to-equity ratio of 0.28.

Biogen (NASDAQ:BIIB - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $4.08 EPS for the quarter, beating the consensus estimate of $3.77 by $0.31. The company had revenue of $2.47 billion for the quarter, compared to analysts' expectations of $2.43 billion. Biogen had a return on equity of 14.98% and a net margin of 16.81%. Biogen's revenue was down 2.5% compared to the same quarter last year. During the same period last year, the firm posted $4.36 earnings per share. On average, equities research analysts forecast that Biogen Inc. will post 16.42 earnings per share for the current fiscal year.

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.