Sentry Investment Management LLC Has $9.05 Million Stake in Biogen Inc (BIIB)

Sentry Investment Management LLC grew its stake in shares of Biogen Inc (NASDAQ:BIIB) by 6.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 25,614 shares of the biotechnology company’s stock after purchasing an additional 1,658 shares during the period. Sentry Investment Management LLC’s holdings in Biogen were worth $9,050,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Hugh Johnson Advisors LLC lifted its stake in Biogen by 2.4% in the 2nd quarter. Hugh Johnson Advisors LLC now owns 6,092 shares of the biotechnology company’s stock worth $1,768,000 after acquiring an additional 145 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its stake in Biogen by 2.8% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 5,332 shares of the biotechnology company’s stock worth $1,548,000 after acquiring an additional 147 shares in the last quarter. Greatmark Investment Partners Inc. lifted its stake in Biogen by 4.7% in the 2nd quarter. Greatmark Investment Partners Inc. now owns 3,475 shares of the biotechnology company’s stock worth $1,009,000 after acquiring an additional 155 shares in the last quarter. Patton Albertson Miller Group LLC lifted its stake in Biogen by 4.0% in the 2nd quarter. Patton Albertson Miller Group LLC now owns 4,453 shares of the biotechnology company’s stock worth $1,292,000 after acquiring an additional 172 shares in the last quarter. Finally, 6 Meridian lifted its stake in Biogen by 0.9% in the 2nd quarter. 6 Meridian now owns 19,503 shares of the biotechnology company’s stock worth $5,661,000 after acquiring an additional 176 shares in the last quarter. 87.55% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ BIIB opened at $324.14 on Friday. The company has a current ratio of 2.75, a quick ratio of 2.46 and a debt-to-equity ratio of 0.43. The stock has a market cap of $64.53 billion, a PE ratio of 14.86, a P/E/G ratio of 1.27 and a beta of 1.01. Biogen Inc has a 52 week low of $249.17 and a 52 week high of $388.67.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings data on Tuesday, October 23rd. The biotechnology company reported $7.40 EPS for the quarter, beating the Zacks’ consensus estimate of $6.78 by $0.62. The business had revenue of $3.44 billion for the quarter, compared to analyst estimates of $3.33 billion. Biogen had a return on equity of 38.70% and a net margin of 24.08%. The firm’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $6.31 EPS. Research analysts expect that Biogen Inc will post 25.62 earnings per share for the current year.

Several equities research analysts recently issued reports on the company. ValuEngine raised Biogen from a “sell” rating to a “hold” rating in a research note on Tuesday. Barclays increased their price objective on Biogen from $295.00 to $320.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 25th. BidaskClub raised Biogen from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, July 18th. JPMorgan Chase & Co. reduced their price objective on Biogen from $445.00 to $436.00 and set a “buy” rating for the company in a research note on Wednesday, October 24th. Finally, Leerink Swann set a $340.00 price objective on Biogen and gave the stock a “hold” rating in a research note on Wednesday, October 24th. Nine research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $383.01.

In other news, EVP Michael D. Ehlers sold 1,000 shares of the stock in a transaction dated Wednesday, September 26th. The stock was sold at an average price of $350.00, for a total transaction of $350,000.00. Following the transaction, the executive vice president now owns 4,281 shares of the company’s stock, valued at approximately $1,498,350. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.29% of the company’s stock.

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Biogen Profile

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

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Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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