Baystate Wealth Management LLC Acquires 521 Shares of Biogen Inc. (BIIB)

Judith Bessette
Agosto 17, 2017

Shell Asset Management Co. reduced its position in shares of Biogen Inc. (NASDAQ:BIIB) in a research note published on Wednesday, July 26th, The Fly reports. Louisiana State Employees Retirement System's holdings in Biogen were worth $3,609,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company.

Biogen Inc is a biopharmaceutical company. Crestwood Advisors Group LLC acquired a new stake in Biogen during the first quarter valued at $106,000. Independent Portfolio Consultants Inc. boosted its stake in Biogen by 93.2% in the second quarter. Independent Portfolio Consultants Inc. now owns 454 shares of the biotechnology company's stock valued at $123,000 after buying an additional 219 shares during the last quarter. Finally, Winfield Associates Inc. boosted its position in Biogen by 16.8% in the first quarter. Boltwood Capital Management now owns 2,460 shares of the biotechnology company's stock valued at $672,000 after buying an additional 380 shares during the period. Biogen has a 1-year low of $244.28 and a 1-year high of $304.23.

Shares of Biogen (NASDAQ BIIB) traded up 2.14% during trading on Wednesday, hitting $294.08. The firm's 50-day moving average is $282.54 and its 200 day moving average is $274.26. The company has a market capitalization of $62.18 billion, a P/E ratio of 19.30 and a beta of 0.79.

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Leerink Swann reaffirmed their market perform rating on shares of Biogen Inc. The biotechnology company reported $5.04 earnings per share for the quarter, topping the Thomson Reuters' consensus estimate of $4.36 by $0.68. Biogen had a return on equity of 37.42% and a net margin of 28.10%. The business had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $2.81 billion. The institutional investor held 22,250 shares of the in vitro & in vivo diagnostic substances company at the end of 2016Q4, valued at $153,000, down from 121,600 at the end of the previous reported quarter. Biogen's quarterly revenue was up 6.4% on a year-over-year basis. On average, equities research analysts predict that Biogen will post $21.44 EPS for the current year. If you are reading this report on another domain, it was stolen and republished in violation of USA and worldwide copyright & trademark law. If you are viewing this piece of content on another publication, it was stolen and reposted in violation of United States & worldwide copyright and trademark laws. Mizuho reissued a "neutral" rating and issued a $290.00 price target on shares of Biogen in a research note on Monday, April 3rd. Vetr cut shares of Biogen from a strong-buy rating to a buy rating and set a $310.46 price objective for the a research report on Tuesday, April 25th. Cowen and Company reissued a buy rating and issued a $338.00 price target on shares of Biogen in a report on Tuesday, April 25th. BidaskClub raised Biogen from a "hold" rating to a "buy" rating in a report on Friday, August 4th. Finally, Deutsche Bank AG began coverage on shares of Biogen in a research note on Friday, June 23rd. RBC Capital Markets maintained the stock with "Outperform" rating in Wednesday, October 7 report. Eleven equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have given a strong buy rating to the company. Biogen now has a consensus rating of "Buy" and a consensus price target of $328.81. Also, EVP Susan H. Alexander sold 4,974 shares of Biogen stock in a transaction on Tuesday, July 25th. Outfitter Advisors Ltd sold 1,675 shares as Biogen Idec (BIIB)'s stock declined 13.45%. 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.

In related news, Director Brian S. Posner sold 1,084 shares of the business's stock in a transaction on Friday, June 9th. Following the transaction, the director now directly owns 6,330 shares of the company's stock, valued at approximately $1,622,442.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Guardian Life Insurance Co. of America now owns 839 shares of the biotechnology company's stock valued at $229,000 after buying an additional 6 shares in the last quarter. Brown Brothers Harriman Company owns 3,448 shares.

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

Large investors have recently made changes to their positions in the stock.

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