Sentry Investment Management LLC Has $98,000 Stock Position in Biogen Inc. (NASDAQ:BIIB)

Sentry Investment Management LLC cut its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 44.3% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 422 shares of the biotechnology company’s stock after selling 336 shares during the period. Sentry Investment Management LLC’s holdings in Biogen were worth $98,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Livelsberger Financial Advisory acquired a new position in Biogen in the fourth quarter valued at approximately $26,000. Plato Investment Management Ltd lifted its stake in shares of Biogen by 82.8% in the 1st quarter. Plato Investment Management Ltd now owns 117 shares of the biotechnology company’s stock valued at $25,000 after purchasing an additional 53 shares during the period. Rise Advisors LLC bought a new position in shares of Biogen in the 1st quarter worth $27,000. Versant Capital Management Inc grew its stake in shares of Biogen by 123.2% during the second quarter. Versant Capital Management Inc now owns 154 shares of the biotechnology company’s stock worth $36,000 after purchasing an additional 85 shares during the period. Finally, EntryPoint Capital LLC bought a new stake in Biogen in the first quarter valued at about $36,000. Institutional investors own 87.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on BIIB. Robert W. Baird reduced their target price on Biogen from $316.00 to $294.00 and set an “outperform” rating on the stock in a report on Monday, July 29th. Wells Fargo & Company cut their target price on shares of Biogen from $240.00 to $225.00 and set an “equal weight” rating on the stock in a report on Friday, August 2nd. Piper Sandler decreased their price target on shares of Biogen from $335.00 to $313.00 and set an “overweight” rating for the company in a report on Friday, July 12th. Wedbush dropped their price objective on Biogen from $215.00 to $210.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Finally, StockNews.com raised Biogen from a “buy” rating to a “strong-buy” rating in a research note on Monday, September 2nd. Eight equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $275.52.

Biogen Trading Down 0.6 %

Shares of Biogen stock opened at $197.89 on Friday. Biogen Inc. has a 12-month low of $189.44 and a 12-month 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 business’s 50 day moving average is $211.12 and its 200-day moving average is $215.96. The stock has a market cap of $28.81 billion, a P/E ratio of 24.71, a P/E/G ratio of 2.03 and a beta of -0.06.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings results on Thursday, August 1st. The biotechnology company reported $5.28 EPS for the quarter, beating analysts’ consensus estimates of $4.00 by $1.28. The firm had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.39 billion. Biogen had a net margin of 11.98% and a return on equity of 15.71%. The company’s revenue for the quarter was up .4% compared to the same quarter last year. During the same quarter last year, the company posted $4.02 earnings per share. Equities research analysts predict that Biogen Inc. will post 16.12 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Priya Singhal sold 431 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $204.22, for a total value of $88,018.82. Following the completion of the sale, the insider now directly owns 5,316 shares of the company’s stock, valued at $1,085,633.52. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.16% of the stock is currently owned by corporate insiders.

About Biogen

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.