Johnson Financial Group Inc. Raises Position in Biogen Inc. (BIIB)

Johnson Financial Group Inc. increased its position in Biogen Inc. (NASDAQ:BIIB) by 5.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,712 shares of the biotechnology company’s stock after buying an additional 240 shares during the period. Johnson Financial Group Inc.’s holdings in Biogen were worth $1,289,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA raised its position in Biogen by 2,288.0% in the first quarter. Massachusetts Financial Services Co. MA now owns 1,352,164 shares of the biotechnology company’s stock worth $369,709,000 after buying an additional 1,295,540 shares during the period. Winslow Capital Management LLC acquired a new stake in Biogen during the first quarter worth approximately $345,143,000. Westfield Capital Management Co. LP acquired a new stake in Biogen during the first quarter worth approximately $98,187,000. Vanguard Group Inc. increased its stake in Biogen by 2.4% in the first quarter. Vanguard Group Inc. now owns 14,352,490 shares of the biotechnology company’s stock worth $3,924,258,000 after buying an additional 342,568 shares in the last quarter. Finally, Alliancebernstein L.P. increased its stake in Biogen by 11.1% in the first quarter. Alliancebernstein L.P. now owns 2,937,319 shares of the biotechnology company’s stock worth $803,122,000 after buying an additional 294,308 shares in the last quarter. 88.38% of the stock is currently owned by institutional investors.

Shares of Biogen Inc. (NASDAQ BIIB) traded down 0.93% during mid-day trading on Friday, hitting $281.77. The company had a trading volume of 814,038 shares. The stock has a market cap of $59.57 billion, a price-to-earnings ratio of 18.49 and a beta of 0.79. Biogen Inc. has a 52-week low of $244.28 and a 52-week high of $304.23. The stock’s 50-day moving average is $282.82 and its 200-day moving average is $274.33.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Tuesday, July 25th. The biotechnology company reported $5.04 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $4.36 by $0.68. The firm had revenue of $3.08 billion during the quarter, compared to analyst estimates of $2.81 billion. Biogen had a return on equity of 37.42% and a net margin of 28.10%. Biogen’s quarterly revenue was up 6.4% on a year-over-year basis. During the same period in the previous year, the company earned $5.21 earnings per share. Equities analysts forecast that Biogen Inc. will post $21.44 earnings per share for the current year.

ILLEGAL ACTIVITY NOTICE: “[[title]]” was published by [[site]] and is the sole property of of [[site]]. If you are accessing this piece of content on another domain, it was illegally stolen and reposted in violation of U.S. and international copyright laws. The original version of this piece of content can be viewed at [[permalink]].

A number of equities research analysts have commented on the company. BMO Capital Markets restated a “market perform” rating and issued a $328.00 target price (up previously from $317.00) on shares of Biogen in a research report on Wednesday, July 26th. Vetr downgraded Biogen from a “buy” rating to a “hold” rating and set a $298.30 target price on the stock. in a research report on Wednesday, July 26th. Cowen and Company restated a “buy” rating on shares of Biogen in a research report on Thursday, July 27th. BidaskClub upgraded Biogen from a “hold” rating to a “buy” rating in a research report on Friday, August 4th. Finally, Goldman Sachs Group, Inc. (The) upgraded Biogen from a “buy” rating to a “conviction-buy” rating and set a $338.00 target price on the stock in a research report on Wednesday. Eleven equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have issued a strong buy rating to the company. Biogen currently has an average rating of “Buy” and a consensus price target of $328.81.

In other Biogen news, Director Brian S. Posner sold 1,084 shares of Biogen stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $256.31, for a total value of $277,840.04. Following the completion of the transaction, the director now directly owns 6,330 shares in the company, valued at $1,622,442.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Susan H. Alexander sold 4,974 shares of Biogen stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $290.01, for a total value of $1,442,509.74. Following the completion of the transaction, the executive vice president now owns 22,258 shares of the company’s stock, valued at $6,455,042.58. The disclosure for this sale can be found here. Over the last three months, insiders sold 13,816 shares of company stock valued at $3,931,380. 0.32% of the stock is owned by corporate insiders.

About Biogen

Biogen Inc is a biopharmaceutical company. The Company focuses on discovering, developing, manufacturing and delivering therapies to people living with serious neurological, rare and autoimmune diseases. The Company markets products, including TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, ZINBRYTA and FAMPYRA for multiple sclerosis (MS), FUMADERM for the treatment of severe plaque psoriasis and SPINRAZA for the treatment of spinal muscular atrophy (SMA).