Biogen Idec (BIIB) pushed the Health Care sector higher today making it today's featured health care winner. The sector as a whole closed the day up 0.4%. By the end of trading, Biogen Idec rose $3.33 (2.5%) to $135.16 on average volume. Throughout the day, 1.4 million shares of Biogen Idec exchanged hands as compared to its average daily volume of 1.2 million shares. The stock ranged in a price between $131.19-$135.39 after having opened the day at $131.19 as compared to the previous trading day's close of $131.83. Other companies within the Health Care sector that increased today were: Graymark Healthcare (GRMH), up 63.2%, iBio (IBIO), up 27%, CytRx Corporation (CYTR), up 15.6%, and NeurogesX (NGSX), up 14.7%. Biogen Idec Inc. discovers, develops, manufactures, and markets therapies for the treatment of neurodegenerative diseases, hemophilia, and autoimmune disorders in the United States and internationally. Biogen Idec has a market cap of $32.1 billion and is part of the drugs industry. The company has a P/E ratio of 26.6, equal to the average drugs industry P/E ratio and above the S&P 500 P/E ratio of 17.7. Shares are up 19.8% year to date as of the close of trading on Tuesday. Currently there are 14 analysts that rate Biogen Idec a buy, no analysts rate it a sell, and six rate it a hold. TheStreet Ratings rates Biogen Idec as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity, reasonable valuation levels and solid stock price performance. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook.
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