Motley Fool Wealth Management LLC Has $22.73 Million Stock Position in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Motley Fool Wealth Management LLC lessened its holdings in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) by 18.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 347,728 shares of the biotechnology company’s stock after selling 76,869 shares during the quarter. BioMarin Pharmaceutical accounts for approximately 1.2% of Motley Fool Wealth Management LLC’s investment portfolio, making the stock its 21st biggest position. Motley Fool Wealth Management LLC’s holdings in BioMarin Pharmaceutical were worth $22,731,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. TD Private Client Wealth LLC grew its position in shares of BioMarin Pharmaceutical by 57.4% during the 3rd quarter. TD Private Client Wealth LLC now owns 510 shares of the biotechnology company’s stock worth $36,000 after purchasing an additional 186 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of BioMarin Pharmaceutical in the fourth quarter valued at approximately $36,000. True Wealth Design LLC grew its position in BioMarin Pharmaceutical by 13,400.0% during the third quarter. True Wealth Design LLC now owns 810 shares of the biotechnology company’s stock worth $57,000 after buying an additional 804 shares in the last quarter. Smartleaf Asset Management LLC increased its stake in BioMarin Pharmaceutical by 111.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 885 shares of the biotechnology company’s stock worth $58,000 after acquiring an additional 466 shares during the period. Finally, UMB Bank n.a. raised its holdings in BioMarin Pharmaceutical by 260.1% in the 4th quarter. UMB Bank n.a. now owns 1,019 shares of the biotechnology company’s stock valued at $67,000 after acquiring an additional 736 shares in the last quarter. 98.71% of the stock is currently owned by institutional investors and hedge funds.

BioMarin Pharmaceutical Stock Performance

NASDAQ BMRN opened at $71.53 on Wednesday. The company has a market capitalization of $13.65 billion, a PE ratio of 32.51, a price-to-earnings-growth ratio of 0.61 and a beta of 0.33. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.62 and a current ratio of 5.33. BioMarin Pharmaceutical Inc. has a 52-week low of $60.63 and a 52-week high of $94.85. The company has a 50-day simple moving average of $66.83 and a 200 day simple moving average of $67.78.

BioMarin Pharmaceutical (NASDAQ:BMRN) last issued its quarterly earnings results on Wednesday, February 19th. The biotechnology company reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.18. BioMarin Pharmaceutical had a net margin of 14.96% and a return on equity of 9.91%. The company had revenue of $747.31 million during the quarter, compared to analyst estimates of $711.05 million. On average, research analysts predict that BioMarin Pharmaceutical Inc. will post 3.15 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on BMRN shares. StockNews.com upgraded shares of BioMarin Pharmaceutical from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, March 18th. Piper Sandler lifted their price objective on shares of BioMarin Pharmaceutical from $122.00 to $126.00 and gave the company an “overweight” rating in a research note on Thursday, February 20th. Oppenheimer raised shares of BioMarin Pharmaceutical from a “market perform” rating to an “outperform” rating and set a $98.00 target price on the stock in a research note on Monday, February 24th. Citigroup upped their price objective on shares of BioMarin Pharmaceutical from $81.00 to $82.00 and gave the company a “neutral” rating in a report on Thursday, February 20th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $90.00 target price on shares of BioMarin Pharmaceutical in a research note on Thursday, February 20th. Seven equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, BioMarin Pharmaceutical has an average rating of “Moderate Buy” and an average target price of $94.00.

Insider Buying and Selling at BioMarin Pharmaceutical

In related news, CAO Erin Burkhart sold 1,344 shares of BioMarin Pharmaceutical stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $68.38, for a total value of $91,902.72. Following the completion of the sale, the chief accounting officer now owns 13,105 shares of the company’s stock, valued at approximately $896,119.90. This trade represents a 9.30 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.85% of the company’s stock.

BioMarin Pharmaceutical Company Profile

BioMarin Pharmaceutical Inc develops and commercializes therapies for people with serious and life-threatening rare diseases and medical conditions. Its commercial products include Vimizim, an enzyme replacement therapy for the treatment of mucopolysaccharidosis (MPS) IV type A, a lysosomal storage disorder; Naglazyme, a recombinant form of N-acetylgalactosamine 4-sulfatase for patients with MPS VI; and Kuvan, a proprietary synthetic oral form of 6R-BH4 that is used to treat patients with phenylketonuria (PKU), an inherited metabolic disease.