Verde Servicos Internacionais S.a. Lowers stake in Biogen Inc (BIIB)

Biogen Inc (BIIB) : Verde Servicos Internacionais S.a. reduced its stake in Biogen Inc by 15.09% during the most recent quarter end. The investment management company now holds a total of 64,709 shares of Biogen Inc which is valued at $16,980,289 after selling 11,498 shares in Biogen Inc , the firm said in a disclosure report filed with the SEC on Jul 18, 2016.Biogen Inc makes up approximately 1.42% of Verde Servicos Internacionais S.a.’s portfolio.

Other Hedge Funds, Including , Highland Capital Management reduced its stake in BIIB by selling 2,454 shares or 23.5% in the most recent quarter. The Hedge Fund company now holds 7,987 shares of BIIB which is valued at $2,095,869. Biogen Inc makes up approx 0.17% of Highland Capital Management’s portfolio.Central Bank Trust Co reduced its stake in BIIB by selling 72 shares or 0.58% in the most recent quarter. The Hedge Fund company now holds 12,342 shares of BIIB which is valued at $3,100,187. Biogen Inc makes up approx 0.87% of Central Bank Trust Co’s portfolio. Iowa State Bank added BIIB to its portfolio by purchasing 25 company shares during the most recent quarter which is valued at $6,283.

Biogen Inc opened for trading at $259.87 and hit $263.16 on the upside on Wednesday, eventually ending the session at $262.41, with a gain of 1.00% or 2.59 points. The heightened volatility saw the trading volume jump to 18,30,168 shares. Company has a market cap of $57,481 M.

On the company’s financial health, Biogen Inc reported $4.79 EPS for the quarter, beating the analyst consensus estimate by $ 0.32 according to the earnings call on Apr 21, 2016. Analyst had a consensus of $4.47. The company had revenue of $2727.00 million for the quarter, compared to analysts expectations of $2745.21 million. The company’s revenue was up 6.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.82 EPS.

Many Wall Street Analysts have commented on Biogen Inc. Biogen Inc was Initiated by Bernstein to “Outperform” on Jun 29, 2016. Biogen Inc was Downgraded by Citigroup to ” Neutral” on Jun 7, 2016.

Biogen Inc. formerly Biogen Idec Inc. is a global biopharmaceutical company. The Company is focused on discovering developing manufacturing and delivering therapies for neurological autoimmune and hematologic disorders. The Company develops manufactures and markets products designed for the treatment of multiple sclerosis (MS) and hemophilia A and B. The Company’s marketed products include AVONEX PLEGRIDY TECFIDERA TYSABRI FAMPYRA for multiple sclerosis (MS) ALPROLIX for hemophilia B and ELOCTATE for hemophilia A among others. It also collaborates on the development and commercialization of RITUXAN (rituximab) which is a monoclonal antibody for the treatment of non-Hodgkin’s lymphoma chronic lymphocytic leukemia and other conditions and share profits and losses for GAZYVA which is for the treatment of chronic lymphocytic leukemia.

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