New York Life Investment Management LLC Has $3.43 Million Holdings in Biogen Inc. (NASDAQ:BIIB)

New York Life Investment Management LLC lessened its stake in Biogen Inc. (NASDAQ:BIIB) by 0.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,458 shares of the biotechnology company’s stock after selling 124 shares during the quarter. New York Life Investment Management LLC’s holdings in Biogen were worth $3,434,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Inspire Trust Co. N.A. increased its position in Biogen by 58.5% in the 3rd quarter. Inspire Trust Co. N.A. now owns 10,900 shares of the biotechnology company’s stock valued at $2,113,000 after acquiring an additional 4,025 shares in the last quarter. Assenagon Asset Management S.A. increased its position in Biogen by 0.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 43,460 shares of the biotechnology company’s stock valued at $6,646,000 after acquiring an additional 111 shares in the last quarter. Centre Asset Management LLC increased its position in Biogen by 7.7% in the 4th quarter. Centre Asset Management LLC now owns 51,530 shares of the biotechnology company’s stock valued at $7,880,000 after acquiring an additional 3,698 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Biogen by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 913,029 shares of the biotechnology company’s stock valued at $176,982,000 after acquiring an additional 12,319 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in Biogen by 3.2% in the 3rd quarter. Principal Financial Group Inc. now owns 168,631 shares of the biotechnology company’s stock valued at $32,687,000 after acquiring an additional 5,270 shares in the last quarter. Institutional investors and hedge funds own 87.93% of the company’s stock.

Biogen Stock Performance

Shares of BIIB opened at $140.50 on Friday. The firm’s 50 day moving average price is $144.43 and its two-hundred day moving average price is $168.48. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.90 and a current ratio of 1.35. The firm has a market cap of $20.57 billion, a P/E ratio of 12.56, a PEG ratio of 1.51 and a beta of -0.08. Biogen Inc. has a twelve month low of $128.51 and a twelve month high of $238.00.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Wednesday, February 12th. The biotechnology company reported $3.44 EPS for the quarter, topping analysts’ consensus estimates of $3.43 by $0.01. Biogen had a net margin of 16.87% and a return on equity of 14.98%. On average, analysts forecast that Biogen Inc. will post 15.83 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on BIIB shares. BMO Capital Markets lowered their price target on shares of Biogen from $156.00 to $139.00 and set a “market perform” rating for the company in a research report on Thursday, February 13th. Bank of America reiterated a “neutral” rating and set a $178.00 price target on shares of Biogen in a research report on Tuesday, December 10th. Citigroup lowered their price target on shares of Biogen from $160.00 to $145.00 and set a “neutral” rating for the company in a research report on Thursday, February 13th. Jefferies Financial Group cut shares of Biogen from a “buy” rating to a “hold” rating and lowered their price target for the stock from $250.00 to $180.00 in a research report on Monday, December 9th. Finally, Scotiabank lowered their price target on shares of Biogen from $244.00 to $224.00 and set a “sector outperform” rating for the company in a research report on Thursday, February 13th. Seventeen equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, Biogen has an average rating of “Hold” and an average price target of $213.33.

Biogen Company 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.