Trust Co. of Vermont Sells 1,116 Shares of Biogen Inc. (NASDAQ:BIIB)

Trust Co. of Vermont cut its position in Biogen Inc. (NASDAQ:BIIB) by 51.1% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 1,069 shares of the biotechnology company’s stock after selling 1,116 shares during the quarter. Trust Co. of Vermont’s holdings in Biogen were worth $248,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Mather Group LLC. raised its position in Biogen by 17.4% in the 2nd quarter. Mather Group LLC. now owns 1,223 shares of the biotechnology company’s stock worth $264,000 after purchasing an additional 181 shares during the period. Trust Co. of Toledo NA OH grew its holdings in Biogen by 11.2% in the 2nd quarter. Trust Co. of Toledo NA OH now owns 2,209 shares of the biotechnology company’s stock worth $512,000 after acquiring an additional 222 shares during the last quarter. Versant Capital Management Inc grew its holdings in Biogen by 123.2% in the 2nd quarter. Versant Capital Management Inc now owns 154 shares of the biotechnology company’s stock worth $36,000 after acquiring an additional 85 shares during the last quarter. DNB Asset Management AS grew its holdings in Biogen by 15.0% in the 2nd quarter. DNB Asset Management AS now owns 61,226 shares of the biotechnology company’s stock worth $14,193,000 after acquiring an additional 7,973 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV grew its holdings in Biogen by 48.3% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 494 shares of the biotechnology company’s stock worth $115,000 after acquiring an additional 161 shares during the last quarter. 87.93% of the stock is currently owned by hedge funds and other institutional investors.

Biogen Stock Up 0.1 %

Biogen stock traded up $0.13 during trading hours on Wednesday, hitting $200.26. The stock had a trading volume of 238,694 shares, compared to its average volume of 1,146,379. The company has a quick ratio of 1.32, a current ratio of 2.29 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $29.16 billion, a P/E ratio of 24.99, a price-to-earnings-growth ratio of 2.09 and a beta of -0.04. Biogen Inc. has a 12-month low of $189.44 and a 12-month high of $278.95. The stock’s 50-day moving average price is $224.24 and its 200-day moving average price is $222.12.

Biogen (NASDAQ:BIIB) last issued its earnings results on Thursday, August 1st. The biotechnology company reported $5.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.00 by $1.28. The business had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.39 billion. Biogen had a net margin of 11.98% and a return on equity of 15.71%. The business’s revenue for the quarter was up .4% compared to the same quarter last year. During the same period in the previous year, the company earned $4.02 earnings per share. Equities research analysts anticipate that Biogen Inc. will post 15.87 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on BIIB. StockNews.com raised shares of Biogen from a “hold” rating to a “buy” rating in a report on Monday. Needham & Company LLC reaffirmed a “buy” rating and set a $288.00 target price on shares of Biogen in a research note on Thursday, August 1st. Royal Bank of Canada lifted their target price on shares of Biogen from $282.00 to $292.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Wedbush cut their target price on shares of Biogen from $215.00 to $210.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Finally, JPMorgan Chase & Co. cut their target price on shares of Biogen from $270.00 to $240.00 and set a “neutral” rating on the stock in a research note on Thursday, April 11th. Nine research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat, Biogen has an average rating of “Moderate Buy” and a consensus price target of $276.42.

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.