Although the Federal Reserve has hiked rates again, the markets are little changed. The Dow Jones is down by just 8 points while the S&P and NASDAQ are close to flat. In this article, let’s find out what analysts had to say about Biogen Inc (NASDAQ:BIIB), Masimo Corporation (NASDAQ:MASI), LendingClub Corp (NYSE:LC), International Business Machines Corp. (NYSE:IBM), and Intevac, Inc. (NASDAQ:IVAC) and use the latest 13F data to determine hedge fund sentiment among the names.
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Biogen Inc (NASDAQ:BIIB) shares have sunk 5% after two investment banks, Morgan Stanley and Leerink, both downgraded the stock. Specifically, Morgan Stanley downgraded Biogen to ‘Equal Weight’ from ‘Overweight’ and trimmed its price target to $305 from $369 while Leerink lowered its rating to ‘Market Perform’ from ‘Outperform’ and cut its price target to $300 from $305. The latter downgraded due to the slower-than-expected sales pace of Spinraza, among other factors. 76 elite funds had a bullish position in Biogen Inc (NASDAQ:BIIB) at the end of the fourth quarter, down 5 funds from the previous quarter.
Masimo Corporation (NASDAQ:MASI) is 4% in the red after William Quirk of Piper Jaffray downgraded the stock to ‘Neutral’ from ‘Overweight’. The analyst notes that Masimo shares have already rallied 146% since the announcement of the new management compensation package that incentivized a potential sale. Due to that rally, Quirk thinks there might be limited upside. He has a $80 price target. 24 top funds were long Masimo Corporation (NASDAQ:MASI) at the end of the fourth quarter, down 2 funds from the previous quarter.
On the next page, we examine the analyst commentary surrounding LendingClub Corp, International Business Machines Corp, and Intevac Inc.