Johnson Investment Counsel Inc. Sells 90 Shares of Biogen Inc. (NASDAQ:BIIB)

Johnson Investment Counsel Inc. trimmed its stake in Biogen Inc. (NASDAQ:BIIB) by 4.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,965 shares of the biotechnology company’s stock after selling 90 shares during the period. Johnson Investment Counsel Inc.’s holdings in Biogen were worth $456,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of Biogen by 15.0% in the 1st quarter. Vanguard Group Inc. now owns 16,570,398 shares of the biotechnology company’s stock worth $3,573,075,000 after acquiring an additional 2,163,068 shares in the last quarter. Primecap Management Co. CA raised its position in shares of Biogen by 1.6% in the 4th quarter. Primecap Management Co. CA now owns 16,264,481 shares of the biotechnology company’s stock worth $4,208,760,000 after acquiring an additional 251,915 shares in the last quarter. Van ECK Associates Corp raised its position in shares of Biogen by 22.2% in the 1st quarter. Van ECK Associates Corp now owns 1,737,340 shares of the biotechnology company’s stock worth $374,623,000 after acquiring an additional 316,144 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Biogen by 5.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,589,629 shares of the biotechnology company’s stock worth $342,772,000 after acquiring an additional 81,283 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Biogen in the 4th quarter worth $378,728,000. 87.93% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on BIIB. Scotiabank reduced their target price on Biogen from $275.00 to $244.00 and set a “sector outperform” rating on the stock in a research report on Friday, August 2nd. StockNews.com raised Biogen from a “buy” rating to a “strong-buy” rating in a research report on Monday, September 2nd. Truist Financial reaffirmed a “buy” rating and set a $302.00 target price (down from $340.00) on shares of Biogen in a research report on Monday, August 5th. Mizuho reduced their target price on Biogen from $277.00 to $251.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 6th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $300.00 target price on shares of Biogen in a research report on Thursday, May 23rd. Eight research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $275.52.

Biogen Stock Down 1.1 %

Shares of BIIB opened at $195.63 on Friday. Biogen Inc. has a 52 week low of $189.44 and a 52 week high of $269.43. The company has a quick ratio of 1.48, a current ratio of 2.29 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $28.50 billion, a price-to-earnings ratio of 24.42, a PEG ratio of 2.01 and a beta of -0.06. The stock’s 50-day moving average price is $210.52 and its 200-day moving average price is $215.71.

Biogen (NASDAQ:BIIB) last issued its earnings results on Thursday, August 1st. The biotechnology company reported $5.28 EPS for the quarter, topping analysts’ consensus estimates of $4.00 by $1.28. Biogen had a return on equity of 15.71% and a net margin of 11.98%. The firm had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.39 billion. During the same quarter in the prior year, the business earned $4.02 earnings per share. The company’s revenue was up .4% compared to the same quarter last year. On average, sell-side analysts predict that Biogen Inc. will post 16.12 EPS for the current year.

Insiders Place Their Bets

In other Biogen news, insider Priya Singhal sold 431 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $204.22, for a total transaction of $88,018.82. Following the transaction, the insider now owns 5,316 shares in the company, valued at $1,085,633.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.16% of the stock is currently owned by company insiders.

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.