Whittier Trust Co Has Trimmed Holding in Biogen Idec INC (BIIB) by $6.51 Million as Stock Value Declined

June 19, 2017 - By Darrin Black

Investors sentiment decreased to 0.92 in Q4 2016. Its down 0.08, from 1 in 2016Q3. It is negative, as 90 investors sold BIIB shares while 341 reduced holdings. 93 funds opened positions while 304 raised stakes. 183.23 million shares or 1.51% less from 186.04 million shares in 2016Q3 were reported. Trillium Asset Mgmt Ltd Liability Corporation reported 38,766 shares or 0.72% of all its holdings. Korea Investment has 0.46% invested in Biogen Inc (NASDAQ:BIIB) for 333,925 shares. Blair William Il has invested 0.06% of its portfolio in Biogen Inc (NASDAQ:BIIB). Numeric Investors Ltd Co owns 56,569 shares or 0.17% of their US portfolio. Independent Consultants reported 0.03% in Biogen Inc (NASDAQ:BIIB). Hl Ser Ltd Liability stated it has 3,421 shares. State Of Tennessee Treasury Department holds 0.31% of its portfolio in Biogen Inc (NASDAQ:BIIB) for 206,256 shares. Dynamic, United Kingdom-based fund reported 7,699 shares. Boston Private Wealth Ltd Liability reported 1,801 shares or 0.02% of all its holdings. Allianz Asset Mngmt Ag owns 718,273 shares. Mufg Americas holds 0.3% or 31,568 shares. Kcg Hldgs Inc holds 0.02% of its portfolio in Biogen Inc (NASDAQ:BIIB) for 2,454 shares. Geode Ltd Liability Corporation has invested 0.29% in Biogen Inc (NASDAQ:BIIB). Platinum Mgmt reported 0.03% of its portfolio in Biogen Inc (NASDAQ:BIIB). 116,274 are owned by Tocqueville Asset Management Lp.

Since January 9, 2017, it had 2 insider purchases, and 5 insider sales for $4.84 million activity. 1,981 shares were sold by Sandrock Alfred, worth $542,952 on Monday, April 3. 1,084 shares were sold by Posner Brian S, worth $277,840. 1,333 shares were bought by Vounatsos Michel, worth $380,425. $2.88M worth of Biogen Inc (NASDAQ:BIIB) was sold by Clancy Paul J. Another trade for 5,450 shares valued at $1.61M was made by PANGIA ROBERT W on Monday, January 9.

Whittier Trust Co decreased its stake in Biogen Idec Inc (BIIB) by 57.18% based on its latest 2016Q4 regulatory filing with the SEC. Whittier Trust Co sold 23,004 shares as the company’s stock declined 13.45% while stock markets rallied. The institutional investor held 17,230 shares of the biological products (no diagnostic substances) company at the end of 2016Q4, valued at $4.89 million, down from 40,234 at the end of the previous reported quarter. Whittier Trust Co who had been investing in Biogen Idec Inc for a number of months, seems to be less bullish one the $52.71B market cap company. The stock rose 0.89% or $2.25 reaching $253.99. About 1,502 shares traded. Biogen Inc (NASDAQ:BIIB) has risen 4.94% since June 19, 2016 and is uptrending. It has underperformed by 11.76% the S&P500.

Whittier Trust Co, which manages about $2.35 billion US Long portfolio, upped its stake in Spdr Tr S&P 500 (SPY) by 37,530 shares to 777,400 shares, valued at $173.77 million in 2016Q4, according to the filing. It also increased its holding in Tesla Mtrs Inc Com (NASDAQ:TSLA) by 25,192 shares in the quarter, for a total of 25,688 shares, and has risen its stake in Ishares Lehman Aggregate Bonds (AGG).

Investors wait Biogen Inc (NASDAQ:BIIB) to report on July, 20. its quarterly earnings Wall Street analysts expect $4.83 EPS, down $0.38 or 7.29 % from last year’s $5.21 same quarter earnings. This translates into $1.00 billion profit for BIIB giving the stock a 13.15 P/E. This is assuming the current $4.83 EPS is accurate. Biogen Inc’s Wall Street analysts see -7.12 % negative EPS growth, taking into account the $5.20 EPS reproted in the previous quarter,

More notable recent Biogen Inc (NASDAQ:BIIB) news were published by: Marketwatch.com which released: “Alexion hires Biogen executive to serve as its CFO” on June 13, 2017, also Bizjournals.com with their article: “How analysts are interpreting Biogen’s management shakeup” published on June 14, 2017, Investorplace.com published: “Don’t Be Scared of Biogen Inc (BIIB) Stock” on June 15, 2017. More interesting news about Biogen Inc (NASDAQ:BIIB) were released by: Nasdaq.com and their article: “Woodford Investment Management LLP Buys Gilead Sciences Inc, Bioverativ Inc …” published on May 22, 2017 as well as Fool.com‘s news article titled: “Better Buy: Biogen Inc. vs. Gilead Sciences Inc.” with publication date: May 31, 2017.

Biogen Inc (NASDAQ:BIIB) Ratings Coverage

Among 20 analysts covering Biogen Idec Inc. (NASDAQ:BIIB), 12 have Buy rating, 0 Sell and 8 Hold. Therefore 60% are positive. Biogen Idec Inc. has $450 highest and $268 lowest target. $343.53’s average target is 35.25% above currents $253.99 stock price. Biogen Idec Inc. had 41 analyst reports since July 23, 2015 according to SRatingsIntel. The rating was initiated by Credit Suisse with “Neutral” on Wednesday, January 20. Leerink Swann upgraded Biogen Inc (NASDAQ:BIIB) on Monday, November 7 to “Outperform” rating. Piper Jaffray upgraded the stock to “Overweight” rating in Monday, November 7 report. On Friday, December 4 the stock rating was maintained by Wells Fargo with “Outperform”. Mizuho initiated Biogen Inc (NASDAQ:BIIB) rating on Tuesday, November 8. Mizuho has “Buy” rating and $290 target. As per Tuesday, September 6, the company rating was downgraded by Jefferies. The firm earned “Buy” rating on Tuesday, February 7 by Citigroup. The stock has “Strong Buy” rating by Raymond James on Tuesday, August 2. The firm has “Buy” rating by Citigroup given on Thursday, February 25. The firm has “Buy” rating given on Tuesday, August 25 by Cowen & Co.

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