Bessemer Group Inc. Sells 384 Shares of Biogen Inc. (NASDAQ:BIIB)

Bessemer Group Inc. cut its position in shares of Biogen Inc. (NASDAQ:BIIB) by 14.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,308 shares of the biotechnology company’s stock after selling 384 shares during the quarter. Bessemer Group Inc.’s holdings in Biogen were worth $353,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BIIB. Vanguard Group Inc. boosted its holdings in shares of Biogen by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 16,748,875 shares of the biotechnology company’s stock valued at $2,561,238,000 after buying an additional 70,368 shares in the last quarter. Geode Capital Management LLC lifted its position in Biogen by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 3,695,476 shares of the biotechnology company’s stock valued at $563,709,000 after acquiring an additional 82,456 shares during the period. Pacer Advisors Inc. boosted its stake in Biogen by 13,574.7% during the fourth quarter. Pacer Advisors Inc. now owns 2,667,531 shares of the biotechnology company’s stock worth $407,919,000 after acquiring an additional 2,648,024 shares in the last quarter. Norges Bank purchased a new stake in Biogen in the fourth quarter worth about $355,569,000. Finally, Invesco Ltd. increased its stake in shares of Biogen by 30.6% during the fourth quarter. Invesco Ltd. now owns 2,128,807 shares of the biotechnology company’s stock valued at $325,537,000 after purchasing an additional 499,074 shares in the last quarter. 87.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on BIIB shares. BMO Capital Markets cut their price target on Biogen from $156.00 to $139.00 and set a “market perform” rating on the stock in a research note on Thursday, February 13th. Wells Fargo & Company reduced their price target on Biogen from $165.00 to $140.00 and set an “equal weight” rating for the company in a report on Thursday, February 13th. Morgan Stanley dropped their price target on shares of Biogen from $157.00 to $152.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 9th. Citigroup reduced their price objective on shares of Biogen from $160.00 to $145.00 and set a “neutral” rating for the company in a research note on Thursday, February 13th. Finally, Sanford C. Bernstein assumed coverage on shares of Biogen in a report on Tuesday, February 11th. They issued a “market perform” rating and a $160.00 target price for the company. Eighteen analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $213.15.

Biogen Stock Performance

Shares of BIIB opened at $116.98 on Wednesday. The business has a 50-day simple moving average of $135.71 and a two-hundred day simple moving average of $152.96. The company has a quick ratio of 0.90, a current ratio of 1.35 and a debt-to-equity ratio of 0.27. Biogen Inc. has a 52 week low of $110.04 and a 52 week high of $238.00. The stock has a market cap of $17.12 billion, a price-to-earnings ratio of 10.45, a PEG ratio of 1.51 and a beta of 0.06.

Biogen (NASDAQ:BIIB) last released its earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 EPS for the quarter, topping analysts’ consensus estimates of $3.43 by $0.01. Biogen had a net margin of 16.87% and a return on equity of 14.98%. On average, analysts expect that Biogen Inc. will post 15.83 EPS for the current year.

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 stock was sold at an average price of $150.02, for a total value of $1,314,175.20. Following the completion of the sale, the director now owns 11,318 shares in the company, valued at approximately $1,697,926.36. This represents a 43.63 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.16% of the stock is owned by corporate insiders.

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.