Biogen Inc. (NASDAQ:BIIB) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lowered its position in shares of Biogen Inc. (NASDAQ:BIIB) by 2.0% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 188,653 shares of the biotechnology company’s stock after selling 3,854 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Biogen were worth $36,568,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of BIIB. Edgestream Partners L.P. acquired a new stake in Biogen during the first quarter valued at approximately $356,000. O Shaughnessy Asset Management LLC grew its holdings in shares of Biogen by 5.0% during the first quarter. O Shaughnessy Asset Management LLC now owns 3,940 shares of the biotechnology company’s stock valued at $849,000 after purchasing an additional 188 shares during the last quarter. Seven Eight Capital LP bought a new position in shares of Biogen during the first quarter valued at approximately $372,000. Natixis grew its holdings in shares of Biogen by 51.7% during the first quarter. Natixis now owns 101,738 shares of the biotechnology company’s stock valued at $21,938,000 after purchasing an additional 34,665 shares during the last quarter. Finally, MQS Management LLC bought a new position in shares of Biogen during the first quarter valued at approximately $433,000. Institutional investors and hedge funds own 87.93% of the company’s stock.

Biogen Stock Down 1.3 %

Shares of BIIB opened at $157.94 on Tuesday. The stock has a market cap of $23.01 billion, a price-to-earnings ratio of 14.27, a P/E/G ratio of 1.51 and a beta of -0.06. The company has a quick ratio of 0.80, a current ratio of 1.26 and a debt-to-equity ratio of 0.28. Biogen Inc. has a 12 month low of $157.40 and a 12 month high of $268.30. The company has a 50-day moving average price of $185.16 and a two-hundred day moving average price of $206.88.

Biogen (NASDAQ:BIIB) last posted its earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.77 by $0.31. Biogen had a net margin of 16.81% and a return on equity of 14.98%. The company had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.43 billion. During the same quarter in the previous year, the company posted $4.36 earnings per share. Biogen’s quarterly revenue was down 2.5% compared to the same quarter last year. Equities analysts predict that Biogen Inc. will post 16.42 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently commented on BIIB. Scotiabank lowered their target price on Biogen from $275.00 to $244.00 and set a “sector outperform” rating for the company in a report on Friday, August 2nd. Citigroup assumed coverage on Biogen in a report on Thursday, November 14th. They issued a “neutral” rating and a $190.00 price objective for the company. UBS Group decreased their price objective on Biogen from $234.00 to $202.00 and set a “neutral” rating for the company in a report on Thursday, October 3rd. Wolfe Research assumed coverage on Biogen in a report on Friday. They issued a “peer perform” rating for the company. Finally, StockNews.com raised Biogen from a “buy” rating to a “strong-buy” rating in a report on Monday, September 2nd. Thirteen research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $258.96.

Insider Activity

In other 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 value of $88,018.82. Following the completion of the transaction, the insider now owns 5,316 shares in the company, valued at approximately $1,085,633.52. The trade was a 7.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.16% of the stock is currently owned by corporate insiders.

About Biogen

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.