As Biogen INC (BIIB) Share Value Declined, Holder Primecap Management Company Decreased Its Position

January 19, 2018 - By Kurt Siggers

Investors sentiment increased to 1.13 in Q3 2017. Its up 0.25, from 0.88 in 2017Q2. It is positive, as 59 investors sold BIIB shares while 283 reduced holdings. 96 funds opened positions while 292 raised stakes. 181.16 million shares or 0.28% more from 180.66 million shares in 2017Q2 were reported. Comerica, Michigan-based fund reported 1,126 shares. Dimensional Fund Advisors LP has invested 0.07% of its portfolio in Biogen Inc. (NASDAQ:BIIB). Lowe Brockenbrough & Co reported 0.05% of its portfolio in Biogen Inc. (NASDAQ:BIIB). Retirement Systems Of Alabama has invested 0.26% in Biogen Inc. (NASDAQ:BIIB). Fifth Third Financial Bank holds 75,658 shares. Boyer Corporon Wealth Mgmt Limited Liability Company reported 782 shares or 0.1% of all its holdings. Ifc Inc Fl holds 3,890 shares. Los Angeles Capital Management And Equity Rech holds 0.28% of its portfolio in Biogen Inc. (NASDAQ:BIIB) for 155,853 shares. Horan Cap Limited Company has invested 0.08% in Biogen Inc. (NASDAQ:BIIB). Utd Comml Bank Va reported 0.39% stake. Cim Investment Mangement reported 1,544 shares. Holderness Company owns 970 shares. Yhb Inv Inc has 897 shares. American Beacon Advsrs Inc reported 320 shares. Sentinel Tru Lba stated it has 5,985 shares or 0.31% of all its holdings.

Since January 9, 2018, it had 0 insider buys, and 1 insider sale for $1.92 million activity.

Primecap Management Company decreased its stake in Biogen Inc. (BIIB) by 1.16% based on its latest 2017Q3 regulatory filing with the SEC. Primecap Management Company sold 178,487 shares as the company’s stock declined 13.45% while stock markets rallied. The institutional investor held 15.21M shares of the biological products (no diagnostic substances) company at the end of 2017Q3, valued at $4.76 billion, down from 15.39 million at the end of the previous reported quarter. Primecap Management Company who had been investing in Biogen Inc. for a number of months, seems to be less bullish one the $72.88B market cap company. The stock increased 0.05% or $0.18 during the last trading session, reaching $344.62. About 242,654 shares traded. Biogen Inc. (NASDAQ:BIIB) has risen 4.94% since January 19, 2017 and is uptrending. It has underperformed by 11.76% the S&P500.

Primecap Management Company, which manages about $87.86B and $120.82 billion US Long portfolio, upped its stake in Imax Corp. (NYSE:IMAX) by 789,000 shares to 6.31M shares, valued at $142.91 million in 2017Q3, according to the filing. It also increased its holding in Discover Fin Svcs (NYSE:DFS) by 725,100 shares in the quarter, for a total of 9.76M shares, and has risen its stake in Mattel Inc (NASDAQ:MAT).

Analysts await Biogen Inc. (NASDAQ:BIIB) to report earnings on January, 25. They expect $5.52 EPS, up 9.52 % or $0.48 from last year’s $5.04 per share. BIIB’s profit will be $1.17B for 15.61 P/E if the $5.52 EPS becomes a reality. After $6.31 actual EPS reported by Biogen Inc. for the previous quarter, Wall Street now forecasts -12.52 % negative EPS growth.

More recent Biogen Inc. (NASDAQ:BIIB) news were published by: Bostonglobe.com which released: “Biogen shares drop after Alzheimer’s drug trial setback” on December 21, 2017. Also Fool.com published the news titled: “Will 2018 Be Biogen Inc.’s Best Year Yet?” on January 14, 2018. Seekingalpha.com‘s news article titled: “Biogen adds to recent up move; shares ahead 2%” with publication date: December 20, 2017 was also an interesting one.

Biogen Inc. (NASDAQ:BIIB) Ratings Coverage

Among 31 analysts covering Biogen Idec Inc. (NASDAQ:BIIB), 22 have Buy rating, 0 Sell and 9 Hold. Therefore 71% are positive. Biogen Idec Inc. had 96 analyst reports since July 23, 2015 according to SRatingsIntel. The stock has “Buy” rating by Mizuho on Tuesday, October 17. The stock of Biogen Inc. (NASDAQ:BIIB) earned “Outperform” rating by BMO Capital Markets on Wednesday, October 25. The stock of Biogen Inc. (NASDAQ:BIIB) earned “Neutral” rating by Citigroup on Tuesday, June 7. The stock has “Hold” rating by Jefferies on Tuesday, July 11. Robert W. Baird maintained it with “Hold” rating and $290.0 target in Monday, October 30 report. Bank of America maintained it with “Buy” rating and $365 target in Wednesday, October 18 report. The rating was maintained by BMO Capital Markets on Monday, July 17 with “Hold”. The firm has “Buy” rating by Citigroup given on Thursday, February 25. The company was maintained on Wednesday, October 5 by Jefferies. As per Wednesday, July 26, the company rating was maintained by BMO Capital Markets.

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