Biogen Inc. (BIIB) Holdings Raised by Synovus Financial Corp

Synovus Financial Corp raised its position in shares of Biogen Inc. (NASDAQ:BIIB) by 1.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,925 shares of the biotechnology company’s stock after acquiring an additional 376 shares during the period. Synovus Financial Corp’s holdings in Biogen were worth $6,768,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Pathstone Family Office LLC bought a new stake in Biogen during the first quarter valued at about $102,000. Prentiss Smith & Co. Inc. boosted its holdings in Biogen by 14.9% during the second quarter. Prentiss Smith & Co. Inc. now owns 385 shares of the biotechnology company’s stock valued at $104,000 after acquiring an additional 50 shares during the period. Independent Portfolio Consultants Inc. boosted its holdings in Biogen by 93.2% during the second quarter. Independent Portfolio Consultants Inc. now owns 454 shares of the biotechnology company’s stock valued at $123,000 after acquiring an additional 219 shares during the period. Winfield Associates Inc. boosted its holdings in Biogen by 16.8% during the first quarter. Winfield Associates Inc. now owns 467 shares of the biotechnology company’s stock valued at $128,000 after acquiring an additional 67 shares during the period. Finally, Carroll Financial Associates Inc. boosted its holdings in Biogen by 1.2% during the second quarter. Carroll Financial Associates Inc. now owns 496 shares of the biotechnology company’s stock valued at $134,000 after acquiring an additional 6 shares during the period. Institutional investors own 87.26% of the company’s stock.

In related news, EVP Susan H. Alexander sold 7,758 shares of the stock in a transaction that occurred on Wednesday, July 19th. The shares were sold at an average price of $285.00, for a total value of $2,211,030.00. Following the completion of the transaction, the executive vice president now owns 27,232 shares of the company’s stock, valued at approximately $7,761,120. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Susan H. Alexander sold 4,974 shares of the stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $290.01, for a total transaction of $1,442,509.74. Following the completion of the transaction, the executive vice president now directly owns 22,258 shares of the company’s stock, valued at approximately $6,455,042.58. The disclosure for this sale can be found here. 0.32% of the stock is owned by corporate insiders.

A number of research firms have issued reports on BIIB. UBS AG restated a “neutral” rating and set a $285.00 price target (up from $270.00) on shares of Biogen in a report on Wednesday, July 26th. Sanford C. Bernstein restated an “outperform” rating on shares of Biogen in a report on Thursday, May 25th. Vetr cut shares of Biogen from a “strong-buy” rating to a “buy” rating and set a $311.67 price target for the company. in a report on Wednesday, June 21st. Goldman Sachs Group, Inc. (The) upgraded shares of Biogen from a “buy” rating to a “conviction-buy” rating and set a $338.00 price target for the company in a report on Wednesday, August 16th. Finally, Deutsche Bank AG restated a “buy” rating and set a $319.00 price target (up from $315.00) on shares of Biogen in a report on Wednesday, July 26th. Thirteen investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $331.53.

Shares of Biogen Inc. (NASDAQ BIIB) opened at 321.26 on Friday. Biogen Inc. has a one year low of $244.28 and a one year high of $330.00. The firm has a market cap of $67.92 billion, a price-to-earnings ratio of 21.08 and a beta of 0.77. The company has a 50 day moving average of $298.79 and a 200-day moving average of $278.33.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings data on Tuesday, July 25th. The biotechnology company reported $5.04 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $4.36 by $0.68. The business had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $2.81 billion. Biogen had a net margin of 28.10% and a return on equity of 37.42%. The firm’s revenue was up 6.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $5.21 EPS. On average, analysts expect that Biogen Inc. will post $21.48 EPS for the current year.

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Biogen Company Profile

Biogen Inc is a biopharmaceutical company. The Company focuses on discovering, developing, manufacturing and delivering therapies to people living with serious neurological, rare and autoimmune diseases. The Company markets products, including TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, ZINBRYTA and FAMPYRA for multiple sclerosis (MS), FUMADERM for the treatment of severe plaque psoriasis and SPINRAZA for the treatment of spinal muscular atrophy (SMA).

Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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