Biogen Inc (NASDAQ:BIIB) Shares Sold by Huntington National Bank
Huntington National Bank lowered its position in shares of Biogen Inc (NASDAQ:BIIB) by 10.3% in the second quarter, Holdings Channel reports. The institutional investor owned 2,139 shares of the biotechnology company’s stock after selling 245 shares during the quarter. Huntington National Bank’s holdings in Biogen were worth $500,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Northwest Wealth Management LLC increased its holdings in shares of Biogen by 188.9% during the 1st quarter. Northwest Wealth Management LLC now owns 104 shares of the biotechnology company’s stock worth $25,000 after buying an additional 68 shares during the last quarter. Resources Investment Advisors Inc. increased its holdings in shares of Biogen by 500.0% during the 1st quarter. Resources Investment Advisors Inc. now owns 120 shares of the biotechnology company’s stock worth $28,000 after buying an additional 100 shares during the last quarter. Weaver Consulting Group acquired a new stake in shares of Biogen during the 1st quarter worth approximately $28,000. Private Ocean LLC acquired a new stake in shares of Biogen during the 1st quarter worth approximately $31,000. Finally, Somerset Trust Co increased its holdings in shares of Biogen by 150.0% during the 1st quarter. Somerset Trust Co now owns 140 shares of the biotechnology company’s stock worth $33,000 after buying an additional 84 shares during the last quarter. Institutional investors and hedge funds own 87.33% of the company’s stock.
A number of research firms recently weighed in on BIIB. Mizuho increased their price objective on shares of Facebook from $230.00 to $247.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Citigroup cut shares of Barrick Gold to a “neutral” rating in a research report on Thursday, May 23rd. Raymond James lowered their price objective on shares of Marathon Petroleum from $90.00 to $85.00 and set a “strong-buy” rating for the company in a research report on Wednesday, April 10th. BidaskClub raised shares of WSFS Financial from a “strong sell” rating to a “sell” rating in a research report on Tuesday. Finally, Standpoint Research raised shares of CVS Health from a “hold” rating to a “buy” rating in a research report on Wednesday, June 5th. Four equities research analysts have rated the stock with a sell rating, twenty-three have assigned a hold rating and five have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $269.74.
BIIB stock traded up $2.65 during midday trading on Tuesday, hitting $239.76. The company’s stock had a trading volume of 45,935 shares, compared to its average volume of 1,307,694. The company has a quick ratio of 2.22, a current ratio of 2.46 and a debt-to-equity ratio of 0.49. Biogen Inc has a 52-week low of $216.12 and a 52-week high of $358.41. The company has a market cap of $43.94 billion, a price-to-earnings ratio of 9.16, a P/E/G ratio of 0.88 and a beta of 0.97. The firm has a 50-day moving average of $234.29.
Biogen (NASDAQ:BIIB) last issued its quarterly earnings results on Tuesday, July 23rd. The biotechnology company reported $9.15 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $7.58 by $1.57. Biogen had a net margin of 37.62% and a return on equity of 44.89%. The company had revenue of $3.62 billion during the quarter, compared to analysts’ expectations of $3.48 billion. During the same quarter last year, the company posted $5.80 EPS. The firm’s revenue was up 7.8% compared to the same quarter last year. On average, research analysts expect that Biogen Inc will post 32.08 earnings per share for the current year.
Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases worldwide. The company offers TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for the treatment of multiple sclerosis (MS); SPINRAZA for the treatment of spinal muscular atrophy; and FUMADERM for the treatment of plaque psoriasis.
Further Reading: How do candlesticks reflect price movement?
Want to see what other hedge funds are holding BIIB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Biogen Inc (NASDAQ:BIIB).
Receive News & Ratings for Biogen Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Biogen and related companies with MarketBeat.com's FREE daily email newsletter.