Beutel Goodman & Co Ltd. Increases Stake in Biogen Inc.

Beutel Goodman & Co Ltd. has slightly increased its investment in Biogen Inc. (NASDAQ:BIIB) by 0.1% during the fourth quarter, as indicated by the firm's latest 13F filing with the SEC. This investment firm now owns 1,746,477 shares of Biogen after adding 2,323 additional shares during the quarter, which brought the total value of their holdings in Biogen to roughly $267,071,000 at the end of this recent quarter.

Recent Changes in Ownership

Several other large investors have also been adjusting their positions in Biogen. For instance, Signaturefd LLC increased their stake in Biogen by 3.5% during the fourth quarter. Following this increase, they own 2,092 shares of the biotechnology firm, valued at $320,000 after acquiring 71 additional shares last quarter. Quent Capital LLC significantly raised its stake by 31.9% in the same period, now holding 298 shares worth $46,000 after buying an extra 72 shares.

Additionally, TD Private Client Wealth LLC grew its stake by 25% during the third quarter, bringing its total to 385 shares valued at $75,000 after purchasing 77 more shares recently. Principal Securities Inc. increased its holdings by 30.1% in the fourth quarter, and currently possesses 337 shares valued at $52,000 after acquiring 78 shares. Lastly, Wealth Enhancement Advisory Services LLC lifted their stake in Biogen by 1.6% in the last quarter, now owning 5,018 shares valued at $767,000 after an additional purchase of 79 shares. Institutional investors currently hold approximately 87.93% of Biogen's stock.

Analyst Ratings and Recommendations

Biogen's stock has been the focus of various research reports recently. Royal Bank of Canada adjusted their target price from $231.00 to $225.00, maintaining an "outperform" rating on the stock. Citigroup lowered their price target from $160.00 to $145.00 and assigned a "neutral" rating. Similarly, Bank of America restated a "neutral" rating but decreased their price target from $178.00 to $163.00.

Canaccord Genuity Group also cut their price objective for Biogen from $298.00 to $265.00 while maintaining a "buy" rating. Currently, 17 investment analysts have rated Biogen with a hold rating, while 14 analysts have given it a buy rating, according to MarketBeat data. This results in an average rating of "Hold" with a target price of approximately $213.33.

Biogen's Stock Overview

As of the latest Friday closing, Biogen's stock (NASDAQ:BIIB) opened at $138.37. The company's stock has experienced a 1-year low of $128.51 and a 1-year high of $238.00. Its debt-to-equity ratio stands at 0.27, while the current ratio and quick ratio are 1.35 and 0.90 respectively. The market capitalization of Biogen is approximately $20.25 billion, with a price-to-earnings ratio of 12.37 and a PEG ratio of 1.51.

Quarterly Financial Results

Biogen most recently reported its quarterly earnings data on February 12th. The company announced earnings per share (EPS) of $3.44, which slightly surpassed the analysts' consensus estimate of $3.43 by $0.01. With a net margin of 16.87% and a return on equity of 14.98%, the company continues to show solid financial health. Analysts predict that Biogen will achieve an EPS of 15.83 for the current fiscal year.

Insider Transactions

In news regarding insider activity, Director Stephen A. Sherwin sold 8,760 shares of Biogen stock on March 7th at an average price of $150.02, totaling approximately $1,314,175.20 for the transaction. Post-sale, the director now holds 11,318 shares valued at nearly $1,697,926.36, indicating a decrease of 43.63% in their position. This information was disclosed in a filing with the SEC.

About Biogen Inc.

Biogen Inc. specializes in discovering, developing, manufacturing, and delivering innovative therapies for neurological and neurodegenerative diseases worldwide. The company’s product lineup includes treatments for various conditions such as multiple sclerosis, spinal muscular atrophy, and Alzheimer's disease.

Conclusion

The recent movements by Beutel Goodman & Co Ltd. and other large investors, as well as analyst ratings, indicate a dynamic period for Biogen Inc. in the biotechnology sector. Investors should closely monitor the developments around Biogen as they navigate through the evolving landscape of this industry.

Biogen, Investment, Stocks