Trust Co. of Toledo NA OH Has $428,000 Stake in Biogen Inc. (NASDAQ:BIIB)

Trust Co. of Toledo NA OH decreased its position in shares of Biogen Inc. (NASDAQ:BIIB) by 33.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,987 shares of the biotechnology company’s stock after selling 988 shares during the quarter. Trust Co. of Toledo NA OH’s holdings in Biogen were worth $428,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. PAX Financial Group LLC lifted its position in Biogen by 2.9% during the third quarter. PAX Financial Group LLC now owns 1,577 shares of the biotechnology company’s stock worth $405,000 after purchasing an additional 45 shares during the period. Cary Street Partners Investment Advisory LLC lifted its holdings in shares of Biogen by 2.4% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 1,955 shares of the biotechnology company’s stock worth $502,000 after acquiring an additional 45 shares during the last quarter. Quent Capital LLC lifted its holdings in shares of Biogen by 17.0% in the fourth quarter. Quent Capital LLC now owns 337 shares of the biotechnology company’s stock worth $87,000 after acquiring an additional 49 shares during the last quarter. Salem Investment Counselors Inc. lifted its holdings in shares of Biogen by 8.2% in the fourth quarter. Salem Investment Counselors Inc. now owns 658 shares of the biotechnology company’s stock worth $170,000 after acquiring an additional 50 shares during the last quarter. Finally, Massachusetts Wealth Management lifted its holdings in shares of Biogen by 1.6% in the fourth quarter. Massachusetts Wealth Management now owns 3,250 shares of the biotechnology company’s stock worth $841,000 after acquiring an additional 50 shares during the last quarter. Institutional investors own 87.93% of the company’s stock.

Biogen Price Performance

Biogen stock opened at $223.65 on Thursday. The stock has a market capitalization of $32.56 billion, a price-to-earnings ratio of 27.92, a PEG ratio of 2.25 and a beta of -0.02. Biogen Inc. has a 52-week low of $189.44 and a 52-week high of $298.73. The stock’s 50 day moving average price is $217.95 and its two-hundred day moving average price is $229.15. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.32 and a current ratio of 2.10.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings results on Wednesday, April 24th. The biotechnology company reported $3.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.45 by $0.22. The firm had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.31 billion. Biogen had a return on equity of 14.83% and a net margin of 12.07%. The company’s revenue for the quarter was down 7.0% compared to the same quarter last year. During the same period in the prior year, the business earned $3.40 EPS. On average, equities analysts predict that Biogen Inc. will post 15.63 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. HC Wainwright reissued a “buy” rating and issued a $300.00 target price on shares of Biogen in a report on Thursday, May 23rd. HSBC increased their target price on shares of Biogen from $339.00 to $342.00 and gave the stock a “buy” rating in a report on Friday, May 3rd. Royal Bank of Canada reissued an “outperform” rating and issued a $317.00 target price on shares of Biogen in a report on Wednesday, June 5th. JPMorgan Chase & Co. dropped their target price on shares of Biogen from $270.00 to $240.00 and set a “neutral” rating for the company in a report on Thursday, April 11th. Finally, Bank of America lowered their price objective on Biogen from $280.00 to $260.00 and set a “neutral” rating for the company in a research note on Friday, April 12th. Ten investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $286.50.

Biogen Company 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.