Massachusetts Financial Services Co. MA Purchases 21,192 Shares of Biogen Inc. (NASDAQ:BIIB)

Massachusetts Financial Services Co. MA raised its position in Biogen Inc. (NASDAQ:BIIB) by 3.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 732,376 shares of the biotechnology company’s stock after buying an additional 21,192 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Biogen were worth $111,995,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in BIIB. Inspire Trust Co. N.A. lifted its stake in Biogen by 58.5% during the third quarter. Inspire Trust Co. N.A. now owns 10,900 shares of the biotechnology company’s stock worth $2,113,000 after purchasing an additional 4,025 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in Biogen by 0.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 43,460 shares of the biotechnology company’s stock valued at $6,646,000 after buying an additional 111 shares in the last quarter. Centre Asset Management LLC grew its position in Biogen by 7.7% in the fourth quarter. Centre Asset Management LLC now owns 51,530 shares of the biotechnology company’s stock valued at $7,880,000 after acquiring an additional 3,698 shares during the last quarter. Amundi raised its stake in Biogen by 35.6% during the fourth quarter. Amundi now owns 1,216,990 shares of the biotechnology company’s stock worth $183,461,000 after acquiring an additional 319,478 shares in the last quarter. Finally, Nordea Investment Management AB lifted its holdings in shares of Biogen by 48.0% in the fourth quarter. Nordea Investment Management AB now owns 117,963 shares of the biotechnology company’s stock worth $17,901,000 after acquiring an additional 38,283 shares during the last quarter. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Biogen Stock Performance

NASDAQ:BIIB opened at $122.98 on Friday. The firm has a market capitalization of $18.00 billion, a P/E ratio of 10.99, a P/E/G ratio of 1.51 and a beta of 0.01. Biogen Inc. has a twelve month low of $122.77 and a twelve month high of $238.00. The company has a fifty day moving average of $140.68 and a 200-day moving average of $157.90. 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 (NASDAQ:BIIB) last announced its quarterly earnings data on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share for the quarter, beating the consensus estimate of $3.43 by $0.01. Biogen had a net margin of 16.87% and a return on equity of 14.98%. As a group, sell-side analysts anticipate that Biogen Inc. will post 15.83 EPS for the current year.

Insider Buying and Selling at Biogen

In other news, Director Stephen A. Sherwin sold 8,760 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $150.02, for a total transaction of $1,314,175.20. Following the transaction, the director now directly owns 11,318 shares of the company’s stock, valued at $1,697,926.36. This represents a 43.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.16% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on BIIB shares. Wells Fargo & Company lowered their price objective on shares of Biogen from $165.00 to $140.00 and set an “equal weight” rating for the company in a research report on Thursday, February 13th. Scotiabank lowered their price target on shares of Biogen from $244.00 to $224.00 and set a “sector outperform” rating for the company in a report on Thursday, February 13th. Royal Bank of Canada cut their price objective on Biogen from $231.00 to $225.00 and set an “outperform” rating on the stock in a report on Thursday, February 13th. William Blair reaffirmed an “outperform” rating on shares of Biogen in a report on Monday, January 13th. Finally, Stifel Nicolaus lowered Biogen from a “buy” rating to a “hold” rating and set a $175.00 price target on the stock. in a research note on Monday, December 16th. Eighteen analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $213.33.

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.