Sentry Investment Management LLC Grows Holdings in Biogen Inc. (NASDAQ:BIIB)

Sentry Investment Management LLC grew its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 62.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 685 shares of the biotechnology company’s stock after purchasing an additional 263 shares during the quarter. Sentry Investment Management LLC’s holdings in Biogen were worth $133,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Plato Investment Management Ltd boosted its position in Biogen by 82.8% in the 1st quarter. Plato Investment Management Ltd now owns 117 shares of the biotechnology company’s stock valued at $25,000 after buying an additional 53 shares during the period. Itau Unibanco Holding S.A. purchased a new stake in shares of Biogen in the second quarter valued at approximately $33,000. Versant Capital Management Inc grew its stake in Biogen by 123.2% in the second quarter. Versant Capital Management Inc now owns 154 shares of the biotechnology company’s stock worth $36,000 after purchasing an additional 85 shares in the last quarter. EntryPoint Capital LLC purchased a new position in Biogen during the 1st quarter worth $36,000. Finally, First Horizon Advisors Inc. raised its position in Biogen by 39.8% during the 2nd quarter. First Horizon Advisors Inc. now owns 172 shares of the biotechnology company’s stock valued at $40,000 after purchasing an additional 49 shares in the last quarter. 87.93% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Biogen news, insider Priya Singhal sold 431 shares of Biogen stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $204.22, for a total transaction of $88,018.82. Following the completion of the sale, the insider now directly owns 5,316 shares in the company, valued at approximately $1,085,633.52. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.16% of the stock is owned by corporate insiders.

Biogen Price Performance

Shares of BIIB opened at $176.93 on Wednesday. The firm has a market capitalization of $25.78 billion, a PE ratio of 15.98, a price-to-earnings-growth ratio of 1.65 and a beta of -0.06. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.26 and a quick ratio of 0.80. The company’s fifty day moving average price is $191.56 and its 200-day moving average price is $209.34. Biogen Inc. has a 1-year low of $170.71 and a 1-year high of $268.30.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share for the quarter, beating the consensus estimate of $3.77 by $0.31. Biogen had a return on equity of 14.98% and a net margin of 16.81%. The business had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.43 billion. During the same quarter in the previous year, the business earned $4.36 EPS. The company’s quarterly revenue was down 2.5% compared to the same quarter last year. On average, equities research analysts predict that Biogen Inc. will post 16.4 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. HC Wainwright reissued a “buy” rating and set a $300.00 price target on shares of Biogen in a research report on Thursday, October 31st. Wedbush cut their target price on shares of Biogen from $210.00 to $205.00 and set a “neutral” rating on the stock in a research report on Monday, September 23rd. Royal Bank of Canada reduced their price target on shares of Biogen from $292.00 to $269.00 and set an “outperform” rating for the company in a report on Friday, October 4th. Morgan Stanley downgraded shares of Biogen from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $285.00 to $204.00 in a research note on Thursday, October 31st. Finally, StockNews.com raised shares of Biogen from a “buy” rating to a “strong-buy” rating in a research note on Monday, September 2nd. Ten investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Biogen currently has a consensus rating of “Moderate Buy” and an average target price of $261.58.

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.