Thrivent Financial for Lutherans Has $36.57 Million Stock Holdings in Biogen Inc. (NASDAQ:BIIB)

Thrivent Financial for Lutherans lowered its position in Biogen Inc. (NASDAQ:BIIB - Free Report) by 2.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 188,653 shares of the biotechnology company's stock after selling 3,854 shares during the quarter. Thrivent Financial for Lutherans owned approximately 0.13% of Biogen worth $36,568,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Edgestream Partners L.P. purchased a new stake in shares of Biogen during the 1st quarter worth about $356,000. O Shaughnessy Asset Management LLC grew its holdings in Biogen by 5.0% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 3,940 shares of the biotechnology company's stock worth $849,000 after acquiring an additional 188 shares in the last quarter. Seven Eight Capital LP acquired a new stake in shares of Biogen during the first quarter worth about $372,000. Natixis raised its position in Biogen by 51.7% during the 1st quarter. Natixis now owns 101,738 shares of the biotechnology company's stock worth $21,938,000 after buying an additional 34,665 shares during the last quarter. Finally, MQS Management LLC purchased a new stake in shares of Biogen in the first quarter valued at approximately $433,000. 87.93% of the stock is owned by institutional investors and hedge funds.

Biogen Stock Performance

BIIB stock traded down $2.18 on Tuesday, reaching $155.76. The company's stock had a trading volume of 671,519 shares, compared to its average volume of 1,169,397. The firm has a fifty day moving average of $185.16 and a two-hundred day moving average of $206.88. Biogen Inc. has a 52 week low of $155.67 and a 52 week high of $268.30. The company has a market capitalization of $22.70 billion, a P/E ratio of 14.27, a price-to-earnings-growth ratio of 1.52 and a beta of -0.06. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.26 and a quick ratio of 0.80.

Biogen (NASDAQ:BIIB - Get Free Report) last issued its earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share (EPS) 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 business had revenue of $2.47 billion for the quarter, compared to analysts' expectations of $2.43 billion. During the same period in the previous year, the firm posted $4.36 EPS. The company's quarterly revenue was down 2.5% on a year-over-year basis. As a group, analysts predict that Biogen Inc. will post 16.42 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on BIIB. Truist Financial reiterated a "buy" rating and issued a $302.00 price target (down previously from $340.00) on shares of Biogen in a report on Monday, August 5th. Mizuho lowered their price objective 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. BMO Capital Markets lowered their price objective on shares of Biogen from $260.00 to $230.00 and set an "outperform" rating on the stock in a research note on Thursday, October 17th. Oppenheimer lowered their price objective on shares of Biogen from $270.00 to $255.00 and set an "outperform" rating on the stock in a research note on Thursday, October 31st. Finally, Barclays cut their price objective on shares of Biogen from $190.00 to $180.00 and set an "equal weight" rating on the stock in a report on Thursday, October 31st. Thirteen research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Biogen has a consensus rating of "Moderate Buy" and an average price target of $258.96.

Insider Activity

In other Biogen news, insider Priya Singhal sold 431 shares of the firm's stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $204.22, for a total transaction of $88,018.82. Following the completion of the sale, the insider now directly owns 5,316 shares in the company, valued at approximately $1,085,633.52. This trade represents a 7.50 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.16% of the company's stock.

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.