Stratos Wealth Partners LTD. Has $1.53 Million Stake in Biogen Inc (NASDAQ:BIIB)

Stratos Wealth Partners LTD. decreased its holdings in Biogen Inc (NASDAQ:BIIB) by 16.8% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,704 shares of the biotechnology company’s stock after selling 1,154 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in Biogen were worth $1,526,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. BlackRock Inc. raised its stake in Biogen by 2.5% in the 1st quarter. BlackRock Inc. now owns 16,043,037 shares of the biotechnology company’s stock worth $5,075,698,000 after purchasing an additional 384,396 shares in the last quarter. Primecap Management Co. CA raised its position in shares of Biogen by 5.1% in the 1st quarter. Primecap Management Co. CA now owns 15,965,989 shares of the biotechnology company’s stock valued at $5,051,320,000 after buying an additional 776,508 shares in the last quarter. State Street Corp raised its position in shares of Biogen by 0.4% in the 1st quarter. State Street Corp now owns 8,262,242 shares of the biotechnology company’s stock valued at $2,614,008,000 after buying an additional 30,055 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Biogen by 2.1% in the 1st quarter. Geode Capital Management LLC now owns 3,372,294 shares of the biotechnology company’s stock valued at $1,065,558,000 after buying an additional 69,657 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Biogen by 14.0% in the 1st quarter. Bank of New York Mellon Corp now owns 2,412,860 shares of the biotechnology company’s stock valued at $763,380,000 after buying an additional 295,556 shares in the last quarter. Institutional investors and hedge funds own 87.34% of the company’s stock.

NASDAQ:BIIB opened at $274.69 on Friday. The firm’s fifty day moving average is $273.66 and its 200-day moving average is $298.73. The company has a debt-to-equity ratio of 0.69, a quick ratio of 2.19 and a current ratio of 2.46. Biogen Inc has a 52 week low of $215.77 and a 52 week high of $374.99. The firm has a market cap of $43.51 billion, a P/E ratio of 7.45, a P/E/G ratio of 0.77 and a beta of 0.54.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Wednesday, July 22nd. The biotechnology company reported $10.26 EPS for the quarter, beating the Zacks’ consensus estimate of $8.03 by $2.23. Biogen had a net margin of 40.91% and a return on equity of 50.10%. The company had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.44 billion. During the same period in the prior year, the firm posted $9.15 EPS. As a group, sell-side analysts anticipate that Biogen Inc will post 35.51 earnings per share for the current year.

Several equities analysts have recently commented on the stock. Cantor Fitzgerald restated a “neutral” rating and issued a $308.00 target price (down from $361.00) on shares of Biogen in a research report on Friday, May 1st. JPMorgan Chase & Co. restated a “hold” rating and issued a $279.00 target price on shares of Biogen in a research report on Wednesday. William Blair restated a “hold” rating on shares of Biogen in a research report on Friday, July 10th. Credit Suisse Group restated a “hold” rating and issued a $270.00 target price on shares of Biogen in a research report on Thursday, June 25th. Finally, Goldman Sachs Group lowered their price objective on shares of Biogen from $300.00 to $257.00 and set a “neutral” rating for the company in a research report on Monday, July 13th. Six investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and ten have assigned a buy rating to the stock. Biogen currently has an average rating of “Hold” and an average price target of $307.79.

Biogen Company Profile

Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases worldwide. The company offers TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for the treatment of multiple sclerosis (MS); SPINRAZA for the treatment of spinal muscular atrophy; and FUMADERM for the treatment of plaque psoriasis.

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Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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