Diversified Trust Co Has $4.50 Million Position in Biogen Inc. (NASDAQ:BIIB)

Diversified Trust Co increased its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 85.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 20,860 shares of the biotechnology company’s stock after purchasing an additional 9,588 shares during the quarter. Diversified Trust Co’s holdings in Biogen were worth $4,498,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Primecap Management Co. CA raised its position in Biogen by 1.6% during the fourth quarter. Primecap Management Co. CA now owns 16,264,481 shares of the biotechnology company’s stock valued at $4,208,760,000 after acquiring an additional 251,915 shares in the last quarter. Vanguard Group Inc. raised its position in Biogen by 18.2% during the fourth quarter. Vanguard Group Inc. now owns 14,407,330 shares of the biotechnology company’s stock valued at $3,728,185,000 after acquiring an additional 2,218,744 shares in the last quarter. Wellington Management Group LLP raised its position in Biogen by 0.5% during the third quarter. Wellington Management Group LLP now owns 5,374,310 shares of the biotechnology company’s stock valued at $1,381,251,000 after acquiring an additional 27,951 shares in the last quarter. Morgan Stanley raised its position in Biogen by 4.3% during the third quarter. Morgan Stanley now owns 1,493,113 shares of the biotechnology company’s stock valued at $383,745,000 after acquiring an additional 61,814 shares in the last quarter. Finally, Norges Bank bought a new position in Biogen during the fourth quarter valued at approximately $378,728,000. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Biogen Stock Performance

BIIB traded down $0.07 during trading on Monday, reaching $231.75. 386,235 shares of the company’s stock were exchanged, compared to its average volume of 1,158,888. Biogen Inc. has a fifty-two week low of $189.44 and a fifty-two week high of $287.60. The company has a quick ratio of 1.32, a current ratio of 2.10 and a debt-to-equity ratio of 0.41. The business has a 50 day moving average price of $222.22 and a 200 day moving average price of $228.36. The company has a market capitalization of $33.74 billion, a P/E ratio of 29.21, a PEG ratio of 2.33 and a beta of -0.04.

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

Analysts Set New Price Targets

BIIB has been the topic of several recent research reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $317.00 price objective on shares of Biogen in a research report on Wednesday, June 26th. Wedbush lifted their price target on shares of Biogen from $213.00 to $215.00 and gave the company a “neutral” rating in a research report on Thursday, April 25th. Bank of America dropped their price target on shares of Biogen from $280.00 to $260.00 and set a “neutral” rating on the stock in a research report on Friday, April 12th. HSBC lifted their price target on shares of Biogen from $339.00 to $342.00 and gave the company a “buy” rating in a research report on Friday, May 3rd. Finally, William Blair reissued an “outperform” rating on shares of Biogen in a research report on Monday, April 1st. Ten investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average 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.