Beutel Goodman & Co Ltd. Buys 2,323 Shares of Biogen Inc. (NASDAQ:BIIB)

Beutel Goodman & Co Ltd. increased its position in shares of Biogen Inc. (NASDAQ:BIIB) by 0.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,746,477 shares of the biotechnology company’s stock after buying an additional 2,323 shares during the quarter. Beutel Goodman & Co Ltd. owned about 1.20% of Biogen worth $267,071,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of BIIB. Signaturefd LLC grew its stake in shares of Biogen by 3.5% in the 4th quarter. Signaturefd LLC now owns 2,092 shares of the biotechnology company’s stock worth $320,000 after acquiring an additional 71 shares in the last quarter. Quent Capital LLC increased its stake in shares of Biogen by 31.9% during the 4th quarter. Quent Capital LLC now owns 298 shares of the biotechnology company’s stock worth $46,000 after purchasing an additional 72 shares during the last quarter. TD Private Client Wealth LLC increased its stake in shares of Biogen by 25.0% during the 3rd quarter. TD Private Client Wealth LLC now owns 385 shares of the biotechnology company’s stock worth $75,000 after purchasing an additional 77 shares during the last quarter. Principal Securities Inc. raised its holdings in shares of Biogen by 30.1% in the 4th quarter. Principal Securities Inc. now owns 337 shares of the biotechnology company’s stock worth $52,000 after purchasing an additional 78 shares during the period. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in Biogen by 1.6% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 5,018 shares of the biotechnology company’s stock valued at $767,000 after purchasing an additional 79 shares during the last quarter. 87.93% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

BIIB has been the topic of several research reports. Royal Bank of Canada lowered their target price on Biogen from $231.00 to $225.00 and set an “outperform” rating on the stock in a research note on Thursday, February 13th. Citigroup dropped their price objective on shares of Biogen from $160.00 to $145.00 and set a “neutral” rating on the stock in a report on Thursday, February 13th. Bank of America reiterated a “neutral” rating and issued a $178.00 target price on shares of Biogen in a research note on Tuesday, December 10th. Bank Of America (Bofa) dropped their price target on shares of Biogen from $178.00 to $163.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 11th. Finally, Canaccord Genuity Group reduced their price objective on shares of Biogen from $298.00 to $265.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Seventeen investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $213.33.

Biogen Stock Performance

NASDAQ:BIIB opened at $138.37 on Friday. Biogen Inc. has a 1-year low of $128.51 and a 1-year high of $238.00. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.35 and a quick ratio of 0.90. The business has a 50 day moving average of $141.88 and a 200 day moving average of $160.25. The company has a market capitalization of $20.25 billion, a price-to-earnings ratio of 12.37, a PEG ratio of 1.51 and a beta of 0.01.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.43 by $0.01. Biogen had a net margin of 16.87% and a return on equity of 14.98%. On average, sell-side analysts predict that Biogen Inc. will post 15.83 earnings per share for the current fiscal year.

Insider Activity at Biogen

In related news, Director Stephen A. Sherwin sold 8,760 shares of the company’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $150.02, for a total transaction of $1,314,175.20. Following the completion of the sale, the director now directly owns 11,318 shares in the company, valued at $1,697,926.36. This represents a 43.63 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.16% of the stock is currently owned by company insiders.

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.