BMRN BioMarin Pharmaceutical Inc. - Common Stock
About BioMarin Pharmaceutical Inc. - Common Stock Company overview from Wikipedia
BioMarin Pharmaceutical Inc. is an American biotechnology company headquartered in San Rafael, California. It has offices and facilities in the United States, South America, Asia, and Europe. BioMarin's core business and research are in enzyme replacement therapies (ERTs). BioMarin was the first company to provide therapeutics for mucopolysaccharidosis type I, by manufacturing laronidase. BioMarin was also the first company to provide therapeutics for phenylketonuria (PKU).
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BioMarin Pharmaceutical Inc. is an American biotechnology company headquartered in San Rafael, California. It has offices and facilities in the United States, South America, Asia, and Europe. BioMarin's core business and research are in enzyme replacement therapies (ERTs). BioMarin was the first company to provide therapeutics for mucopolysaccharidosis type I (MPS I), by manufacturing laronidase (Aldurazyme, commercialized by Genzyme Corporation). BioMarin was also the first company to provide therapeutics for phenylketonuria (PKU).
Over the years, BioMarin has been criticised for drug pricing and for specific instances of denying access to drugs in clinical trials.
History
BioMarin was founded in 1997 by Christopher Starr Ph.D. and Grant W. Denison Jr. with an investment of a $1.5 million from Glyko Biomedical and went public in 1999. Seed investors were amongst others MPM Bioventures, Grosvenor Fund and Florian Schönharting.
Business development
In 2002, BioMarin acquired Glyko Biomedical.
In 2009, BioMarin acquired Huxley Pharmaceuticals, Inc. (Huxley), which had rights to a proprietary form of 3,4-diaminopyridine (3,4-DAP), amifampridine phosphate. In 2010, BioMarin was granted marketing approval by the European Commission for 3,4-diaminopyridine (3,4-DAP), amifampridine phosphate for the treatment of the rare autoimmune disease Lambert–Eaton myasthenic syndrome (LEMS). BioMarin launched the product under the name Firdapse.
In 2010, BioMarin acquired LEAD Therapeutics, Inc. (LEAD), a small private drug discovery and early stage development company with key compound LT-673, an orally available poly (ADP-ribose) polymerase (PARP) inhibitor studied for the treatment of patients with rare, genetically defined cancers. This acquisition was followed by the purchase of ZyStor Therapeutics, Inc. (ZyStor), a privately held biotechnology company developing ERTs for the treatment of lysosomal storage disorders and its lead product candidate, ZC-701, a fusion of insulin-like growth factor 2 and alpha glucosidase (IGF2-GAA) in development for Pompe disease. At its R&D day in October 2010, BioMarin also announced a new program for a peptide therapeutic, vosoritide (BMN-111), for the treatment of achondroplasia.
In 2012, BioMarin acquired Zacharon Pharmaceuticals, a private biotechnology company based in San Diego focused on developing small molecules targeting pathways of glycan metabolism.
In 2014, BioMarin acquired a histone deacetylase inhibitor chemical library from Repligen for $2 million with the intention of advancing work toward therapies for Friedreich's ataxia and other neurological disorders.
In November 2014, the company agreed to the acquisition of Prosensa for up to $840 million; however, the range of treatments for Duchenne muscular dystrophy failed to attain FDA approval, and development ceased in May 2016.
In October 2019 it was revealed that the group will open an office in Dublin to support further growth through Europe, the Middle East and Asia.
In December 2025, BioMarin agreed to acquire Amicus Therapeutics for $4.8 billion.
Acquisition history
The following is an illustration of the company's major mergers and acquisitions and historical predecessors (this is not a comprehensive list):
Products
As of 2022, BioMarin has six products on the market, each of which is an orphan drug.
Tetrahydrobiopterin (branded as Kuvan) (sapropterin dihydrochloride), a small molecule drug for phenylketonuria, introduced in 2007 as the first medication-based intervention to treat phenylketonuria
Arylsulfatase B (branded as Naglazyme) (galsulfase), a recombinant protein therapeutic for Maroteaux–Lamy syndrome (also called mucopolysaccharidosis type VI)
Iduronidase (branded as Aldurazyme), a recombinant protein therapeutic for mucopolysaccharidosis I
Amifampridine (branded as Firdapse), a small molecule drug for Lambert–Eaton myasthenic syndrome (as of 2013 approved in the EU only)
Elosulfase alfa (branded as Vimizim), is the only enzyme replacement therapy to address the cause of Morquio A Syndrome (MPS IVA), which affects an estimated 3,000 patients in the developed world. The disease occurs as a result of a deficiency of activity in an enzyme involved in glycosaminoglycan (GAG) metabolism.
Cerliponase alfa (branded as Brineura), is an enzyme replacement treatment for Batten disease, which is a form of neuronal ceroid lipofuscinosis. It was approved in 2017.
Valoctocogene roxaparvovec (branded as Roctavian) is an adeno-associated viral vector for treatment of hemophilia A that aims to transfer a working copy of the Factor VIII gene into patients who lack one. It was approved in the EU in August 2022.
Biomarin is working to develop several new drugs.
Controversies
In 2010, BioMarin became involved in controversy surrounding 3,4-diaminopyridine (3,4-DAP). BioMarin markets a phosphate salt of 3,4-DAP under the name Firdapse. In 2010, BioMarin was granted exclusive licensing rights to Firdapse for 10 years. As a result, the price of a prescribed National Health Service treatment course has increased from $1,987 for the unlicensed drug to $69,970 for Firdapse. The company states that prior to its licensing, there was no guaranteed quality control of the product and no way of formally monitoring for uncommon side effects through the regulatory process.
In 2013, BioMarin Pharmaceuticals was at the center of a high-profile debate regarding expanded access of cancer patients to experimental drugs. On the advice of her doctor, Andrea Sloan, a patient with advanced ovarian cancer, requested that the company provide her with access to BMN 673, an unapproved PARP inhibitor drug candidate that had exhibited promising activity in a small Phase 1 clinical trial. The company declined, citing safety concerns. Ms. Sloan eventually received a similar drug candidate from a different company.
In 2015, there was another controversy over expanded access, concerning the supply of a drug on clinical trial to a German child who was suffering from a brain disorder but who was not part of the trial.
In April 2019, the BBC reported that patients who took part in a trial treatment for the drug Kuvan (sapropterin hydrochloride) were later denied access to it. The company was criticised by the NHS and Stephen Hammond MP for patient profiteering. The company commented the following in response: "BioMarin is disappointed that the NHS England has not recognised the value of treating PKU patients with Kuvan, despite more than a decade of positive patient outcomes across 26 countries in Europe, Russia and Turkey"
In June 2019, a Belgian court ordered BioMarin to continue supplying Vimizim to a young girl suffering from Morquio syndrome free of charge. BioMarin stopped providing free Vimizim at the beginning of the year after negotiations with Belgian health authorities regarding reimbursement of the product repeatedly failed. This caused the parents to start legal proceedings to force the company to keep providing the medicine free of charge. BioMarin was ordered in a preliminary injunction to keep doing so until a definitive judgment would be rendered, or until the medicine would be available on the Belgian market at a reasonable price.
Source: Wikipedia, CC BY-SA 4.0 · View on Wikipedia ↗
BMRN Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
BMRN Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view
10-Year Performance Revenue, net income, margins and EPS trends
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Financial Health Debt, liquidity, solvency — balance sheet strength
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
BMRN Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
- Strong Buy 10 30.3%
- Buy 16 48.5%
- Hold 7 21.2%
- Sell 0 0.0%
- Strong Sell 0 0.0%
12-Month Price Target
26 analysts · 2026-08-21Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $0.73 | $0.70 | 0.03% |
| March 31, 2026 | $0.54 | $0.77 | -0.23% |
| Dec. 31, 2025 | $-0.24 | $0.64 | -0.88% |
| Sept. 30, 2025 | $-0.16 | $0.38 | -0.54% |
| June 30, 2025 | $1.23 | $0.85 | 0.38% |
| March 31, 2025 | $0.95 | $0.72 | 0.23% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| BMRN | $11.43B | 33.0 | 12.9% | 10.8% | 5.8% | — |
| BBIO | $14.90B | -20.2 | 126.3% | -146.0% | 41.2% | — |
| NBIX | $14.20B | 30.4 | 21.4% | 16.7% | 16.1% | — |
| EXEL | $11.44B | 15.7 | 7.0% | 33.7% | 37.3% | — |
| ARWR | $4.68B | -3449.0 | 23258.2% | -0.20% | -0.50% | — |
| HALO | $7.93B | 26.3 | 37.5% | 22.7% | 166.1% | — |
| MDGL | $13.30B | -45.3 | 432.1% | -30.1% | -44.4% | — |
| CYTK | $7.81B | -9.7 | 376.6% | -891.6% | 152.7% | — |
| IONS | $12.92B | -33.2 | — | — | -68.1% | — |
| SMMT | $13.56B | -12.1 | — | — | -235.1% | — |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 16
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $3.22B | $2.85B | $2.42B | $2.10B | $1.85B | $1.86B | $1.70B | $1.49B | $1.31B | $1.12B | $890M | $749M | |
| Cost of Revenue | $717M | $580M | $532M | $503M | $471M | $524M | $359M | $315M | $242M | $210M | $152M | $122M | |
| R&D Expense | $922M | $747M | $747M | $650M | $629M | $628M | $715M | $696M | $611M | $662M | $635M | $462M | |
| SG&A Expense | $1.15B | $1.01B | $892M | $823M | $759M | $738M | $681M | $604M | $554M | $477M | $402M | $302M | |
| Operating Expenses | $2.81B | $2.37B | $2.23B | $1.94B | $1.93B | $1.90B | $1.80B | $1.61B | $1.33B | $1.92B | $1.00B | $842M | |
| Operating Income | $409M | $484M | $186M | $161M | $-82M | $-43M | $-100M | $-124M | $-15M | $-803M | $-111M | $-93M | |
| Interest Expense | · | · | $17M | $16M | $15M | $29M | $23M | $44M | $43M | $39M | $38M | $37M | |
| Interest Income | $75M | $75M | $58M | $18M | $10M | $17M | $23M | $23M | $15M | $7M | $5M | $6M | |
| Pretax Income | $482M | $542M | $189M | $150M | $-75M | $-49M | $-95M | $-143M | $-36M | $-831M | $-155M | $-125M | |
| Income Tax | $134M | $115M | $21M | $8M | $-11M | $-903M | $-71M | $-65M | $81M | $-201M | $17M | $9M | |
| Net Income | $349M | $427M | $168M | $142M | $-64M | $854M | $-24M | $-77M | $-117M | $-630M | $-172M | $-134M | |
| EPS (Basic) | $1.82 | $2.25 | $0.89 | $0.76 | $-0.35 | $4.72 | $-0.13 | $-0.44 | $-0.67 | $-3.80 | $-1.07 | $-0.92 | |
| EPS (Diluted) | $1.80 | $2.21 | $0.87 | $0.75 | $-0.35 | $4.50 | $-0.13 | $-0.44 | $-0.67 | $-3.81 | $-1.07 | $-0.92 | |
| Shares (Basic) | 191,787,000 | 190,027,000 | 187,834,000 | 185,266,000 | 182,852,000 | 180,804,000 | 179,039,000 | 177,061,000 | 174,427,000 | 165,985,000 | 160,025,000 | 146,349,000 | |
| Shares (Diluted) | 197,394,000 | 196,708,000 | 191,595,000 | 188,963,000 | 182,852,000 | 191,678,000 | 179,039,000 | 177,268,000 | 174,427,000 | 166,219,000 | 160,025,000 | 146,349,000 | |
| EBITDA | $489M | $581M | $262M | $252M | $26M | $68M | $5M | $-28M | $73M | $-707M | $-64M | $-93M |
Balance Sheet 28
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $1.31B | $943M | $755M | $725M | $587M | $649M | $437M | $494M | $598M | $408M | $397M | $875M | |
| Short-term Investments | · | · | · | · | · | · | · | · | $798M | $381M | $196M | $70M | |
| Receivables | $908M | $661M | $634M | $461M | $373M | $448M | $377M | $343M | $261M | $215M | $165M | $144M | |
| Inventory | $1.30B | $1.23B | $1.11B | $894M | $777M | $699M | $680M | $531M | $476M | $355M | $272M | $199M | |
| Prepaid Expense | · | · | · | · | · | · | · | · | · | · | $28M | $35M | |
| Other Current Assets | $186M | $202M | $141M | $105M | $110M | $130M | $131M | $98M | $74M | $62M | $60M | $109M | |
| Current Assets | $3.95B | $3.23B | $2.96B | $2.75B | $2.27B | $2.34B | $1.94B | $2.06B | $2.21B | $1.42B | $1.09B | $1.40B | |
| PP&E (Net) | $953M | $1.04B | $1.07B | $1.07B | $1.04B | $1.03B | $1.01B | $949M | $897M | $799M | $704M | $524M | |
| PP&E (Gross) | $2.03B | $1.93B | $1.93B | $1.88B | $1.76B | $1.67B | $1.56B | $1.42B | $1.30B | $1.14B | $983M | $752M | |
| Accum. Depreciation | $1.07B | $892M | $867M | $802M | $721M | $636M | $549M | $473M | $407M | $343M | $279M | $229M | |
| Goodwill | $196M | $196M | $196M | $196M | $196M | $196M | $197M | $197M | $197M | $197M | $197M | $54M | |
| Intangibles | $214M | $255M | $295M | $339M | $389M | $417M | $457M | $492M | $518M | $554M | $684M | $157M | |
| Other Non-current Assets | $277M | $251M | $172M | $176M | $152M | $142M | $122M | $37M | $30M | $33M | $409M | $55M | |
| Total Assets | $7.59B | $6.99B | $6.84B | $6.38B | $6.00B | $5.85B | $4.69B | $4.43B | $4.63B | $4.02B | $3.73B | $2.48B | |
| Accounts Payable | $759M | $607M | $683M | $573M | $498M | $493M | $571M | $437M | $402M | $371M | $393M | $232M | |
| Accrued Liabilities | · | · | · | · | · | · | · | · | · | · | · | $98M | |
| Current Liabilities | $759M | $607M | $1.18B | $589M | $546M | $493M | $933M | $523M | $817M | $439M | $445M | $236M | |
| Capital Leases | $37M | $31M | $38M | $26M | $32M | $40M | $44M | · | · | · | · | · | |
| Deferred Tax | · | · | · | · | · | · | · | · | · | $0 | $144M | · | |
| Other Non-current Liabilities | $151M | $129M | $120M | $100M | $98M | $114M | $98M | $59M | $59M | $42M | $45M | $30M | |
| Total Liabilities | $1.51B | $1.33B | $1.89B | $1.77B | $1.74B | $1.74B | $1.57B | $1.46B | $1.82B | $1.26B | $1.33B | $947M | |
| Long-term Debt | $597M | · | · | · | · | · | · | · | · | · | · | · | |
| Common Stock | $192.0K | $191.0K | $189.0K | $186.0K | $184.0K | $182.0K | $180.0K | $178.0K | $176.0K | $173.0K | $162.0K | $149.0K | |
| Retained Earnings | $154M | $-195M | $-622M | $-789M | $-931M | $-862M | $-1.72B | $-1.69B | $-1.64B | $-1.52B | $-1.02B | $-850M | |
| AOCI | $-13M | $62M | $-29M | $-4M | $14M | $-16M | $20M | $5M | $-23M | $13M | $21M | $27M | |
| Stockholders' Equity | $6.09B | $5.66B | $4.95B | $4.60B | $4.27B | $4.10B | $3.12B | $2.97B | $2.81B | $2.77B | $2.40B | $1.53B | |
| Liabilities + Equity | $7.59B | $6.99B | $6.84B | $6.38B | $6.00B | $5.85B | $4.69B | $4.43B | $4.63B | $4.02B | $3.73B | $2.48B | |
| Shares Outstanding | 192,300,101 | 190,761,000 | 188,598,000 | 186,251,000 | 183,913,000 | 181,741,000 | 179,838,000 | 178,252,954 | 175,843,749 | 172,647,588 | 161,526,044 | 149,093,647 |
Cash Flow 16
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $80M | $96M | $104M | $102M | $108M | $105M | $105M | $96M | $88M | $97M | $47M | $46M | |
| Stock-based Comp | $181M | $202M | $207M | $196M | $197M | $190M | $160M | $149M | $140M | $135M | $112M | $86M | |
| Deferred Tax | $49M | $56M | $-45M | $-52M | $-16M | $-890M | $-83M | $-68M | $44M | $-228M | $-77M | $-26M | |
| Amort. of Intangibles | $19M | $43M | $62M | $67M | · | · | · | · | · | · | · | $10M | |
| Other Non-cash | $169M | $-208M | $-275M | $-212M | $79M | $-180M | $-110M | $-79M | $-164M | $399M | $-132M | · | |
| Operating Cash Flow | $828M | $573M | $159M | $176M | $305M | $85M | $48M | $20M | $-9M | $-228M | $-219M | $-70M | |
| CapEx | $103M | $85M | $97M | $121M | $96M | $114M | $145M | $145M | $199M | $148M | $228M | $117M | |
| Investing Cash Flow | $-414M | $136M | $-111M | $-20M | $-366M | $-54M | $-31M | $264M | $-305M | $-484M | · | · | |
| Stock Issued | · | · | · | · | · | · | · | $0 | $0 | $713M | $888M | $117M | |
| Stock Repurchased | · | · | · | $0 | $0 | $50M | $0 | $0 | · | · | · | · | |
| Net Stock Activity | · | · | · | $0 | $0 | $-50M | · | $0 | $0 | $713M | $888M | $117M | |
| Financing Cash Flow | $-42M | $-526M | $-19M | $-19M | $-48.0K | $181M | $-75M | $-388M | $507M | $727M | · | · | |
| Net Change in Cash | $369M | $188M | $31M | $137M | $-62M | $212M | $-57M | $-104M | $190M | $11M | $-478M | $307M | |
| Taxes Paid | $96M | · | · | · | · | · | · | · | · | · | · | · | |
| Free Cash Flow | $725M | $487M | $63M | $55M | $209M | $-29M | $-97M | $-124M | $-208M | $-376M | $-449M | $-192M | |
| Levered FCF | · | · | $47M | $40M | $196M | $566M | $-103M | $-148M | $-347M | $-406M | $-492M | $-232M |
Profitability 7
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | 12.7% | 17.0% | 6.5% | 7.1% | -4.5% | -2.0% | -5.9% | -8.3% | -1.1% | -71.9% | -12.4% | -12.4% | |
| Net Margin | 10.8% | 15.0% | 6.9% | 6.8% | -3.5% | 46.2% | -1.4% | -5.2% | -8.9% | -56.4% | -19.3% | -17.8% | |
| Pretax Margin | 15.0% | 19.0% | 7.8% | 7.1% | -4.1% | -2.3% | -5.6% | -9.6% | -2.7% | -74.4% | -17.4% | -16.6% | |
| EBITDA Margin | 15.2% | 20.3% | 10.8% | 12.0% | 1.4% | 3.7% | 0.28% | -1.9% | 5.6% | -63.3% | -7.1% | -12.4% | |
| ROA | 4.8% | 6.2% | 2.5% | 2.3% | -1.1% | 16.3% | -0.52% | -1.7% | -2.7% | -16.3% | -5.5% | -5.7% | |
| ROE | 5.8% | 7.7% | 3.4% | 3.1% | -1.5% | 21.1% | -0.77% | -2.6% | -4.2% | -24.4% | -8.8% | -9.3% | |
| ROIC | 4.9% | 6.7% | 2.8% | 3.1% | -1.6% | 18.2% | -0.81% | -2.2% | -1.7% | -22.0% | -5.1% | -6.5% |
Liquidity & Solvency 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 5.2 | 5.3 | 2.5 | 4.7 | 4.2 | 4.8 | 2.1 | 3.9 | 2.7 | 3.2 | 2.4 | 6.0 | |
| Quick Ratio | 2.9 | 2.6 | 1.2 | 2.0 | 1.8 | 2.2 | 0.9 | 1.6 | 2.0 | 2.3 | 1.7 | 4.6 | |
| Interest Coverage | · | · | 9.1 | 9.4 | -5.4 | -1.3 | -4.3 | -2.8 | -0.3 | -20.3 | -2.9 | -2.5 |
Efficiency 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.4 | 0.4 | 0.4 | 0.3 | 0.3 | 0.4 | 0.4 | 0.3 | 0.3 | 0.3 | 0.3 | 0.3 | |
| Inventory Turnover | 0.6 | 0.5 | 0.5 | 0.6 | 0.6 | 0.8 | 0.6 | 0.6 | 0.6 | 0.7 | 0.6 | 0.7 | |
| Receivables Turnover | 4.1 | 4.4 | 4.4 | 5.0 | 4.5 | 4.5 | 4.7 | 4.9 | 5.5 | 5.9 | 5.8 | 5.7 |
Growth Rates 9
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 12.9% | 18.0% | 15.4% | 13.5% | -0.76% | · | · | · | · | · | · | · | |
| Revenue CAGR 3Y | 15.4% | 15.6% | 9.2% | · | · | · | · | · | · | · | · | · | |
| Revenue CAGR 5Y | 11.6% | · | · | · | · | · | · | · | · | · | · | · | |
| EPS YoY | -18.6% | 154.0% | 16.0% | · | · | · | · | · | · | · | · | · | |
| EPS CAGR 3Y | 33.9% | · | -42.2% | · | · | · | · | · | · | · | · | · | |
| EPS CAGR 5Y | -16.7% | · | · | · | · | · | · | · | · | · | · | · | |
| Net Income YoY | -18.3% | 154.6% | 18.4% | · | · | · | · | · | · | · | · | · | |
| Net Income CAGR 3Y | 35.1% | · | -41.9% | · | · | · | · | · | · | · | · | · | |
| Net Income CAGR 5Y | -16.4% | · | · | · | · | · | · | · | · | · | · | · |
Valuation (TTM) 10
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $3.22B | $2.85B | $2.42B | $2.10B | $1.85B | $1.86B | $1.70B | $1.49B | $1.31B | $1.12B | $890M | $749M | |
| Net Income TTM | $349M | $427M | $168M | $142M | $-64M | $854M | $-24M | $-77M | $-117M | $-630M | $-172M | $-134M | |
| Market Cap | $11.43B | $12.54B | $18.18B | $19.28B | $16.25B | $15.94B | $15.21B | $15.18B | $15.68B | $14.30B | $16.92B | $13.48B | |
| P/E | 33.0 | 29.7 | 110.8 | 138.0 | -252.4 | 19.5 | -650.4 | -193.5 | -133.1 | -21.7 | -97.9 | -98.3 | |
| P/S | 3.5 | 4.4 | 7.5 | 9.2 | 8.8 | 8.6 | 8.9 | 10.2 | 11.9 | 12.8 | 19.0 | 18.0 | |
| P/B | 1.9 | 2.2 | 3.7 | 4.2 | 3.8 | 3.9 | 4.9 | 5.1 | 5.6 | 5.2 | 7.0 | 8.8 | |
| P / Tangible Book | 2.0 | 2.4 | 4.1 | 4.7 | 4.4 | 4.6 | · | · | · | · | · | · | |
| P / Cash Flow | 13.8 | 21.9 | 114.2 | 109.6 | 53.4 | 186.7 | 315.1 | 751.1 | -1790.6 | -62.8 | -76.3 | -183.3 | |
| P / FCF | 15.8 | 25.7 | 290.6 | 350.8 | 77.8 | -550.6 | -157.1 | -122.0 | -75.4 | -38.0 | -37.7 | -70.1 | |
| Earnings Yield | 3.0% | 3.4% | 0.90% | 0.72% | -0.40% | 5.1% | -0.15% | -0.52% | -0.75% | -4.6% | -1.0% | -1.0% |
Income Statement 16
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $990M | $766M | $875M | $776M | $825M | $745M | $747M | $746M | $712M | $649M | $646M | $581M | $595M | $596M | $538M | $505M | |
| Cost of Revenue | $203M | $195M | $276M | $140M | $150M | $152M | $136M | $188M | $130M | $125M | $138M | $128M | $131M | $135M | $147M | $116M | |
| R&D Expense | $207M | $179M | $192M | $409M | $161M | $159M | $174M | $185M | $184M | $205M | $206M | $191M | $177M | $172M | $173M | $158M | |
| SG&A Expense | $396M | $258M | $446M | $268M | $232M | $206M | $267M | $253M | $263M | $226M | $260M | $216M | $206M | $211M | $215M | $217M | |
| Operating Expenses | $879M | $637M | $919M | $823M | $549M | $521M | $586M | $632M | $592M | $560M | $619M | $551M | $530M | $534M | $551M | $508M | |
| Operating Income | $111M | $130M | $-45M | $-47M | $277M | $224M | $161M | $114M | $120M | $88M | $27M | $31M | $66M | $62M | $-13M | $-2M | |
| Interest Expense | $61M | $10M | · | · | $2M | $2M | · | · | · | $4M | · | $4M | $4M | $4M | · | $5M | |
| Interest Income | $10M | $23M | $19M | $18M | $19M | $19M | $18M | $18M | $20M | $19M | $18M | $16M | $13M | $12M | $9M | $5M | |
| Pretax Income | $61M | $141M | $-27M | $-26M | $298M | $238M | $170M | $134M | $132M | $106M | $19M | $42M | $71M | $57M | $-18M | $-2M | |
| Income Tax | $17M | $36M | $19M | $4M | $57M | $52M | $45M | $28M | $25M | $17M | $-1M | $1M | $15M | $6M | $-17M | $5M | |
| Net Income | $45M | $106M | $-47M | $-31M | $241M | $186M | $125M | $106M | $107M | $89M | $20M | $40M | $56M | $51M | $-249.0K | $-7M | |
| EPS (Basic) | $0.23 | $0.55 | $-0.24 | $-0.16 | $1.25 | $0.97 | $0.66 | $0.56 | $0.56 | $0.47 | $0.11 | $0.21 | $0.30 | $0.27 | $-0.01 | $-0.04 | |
| EPS (Diluted) | $0.23 | $0.54 | $-0.22 | $-0.16 | $1.23 | $0.95 | $0.65 | $0.55 | $0.55 | $0.46 | $0.10 | $0.21 | $0.29 | $0.27 | $0.01 | $-0.04 | |
| Shares (Basic) | 193,423,000 | 192,497,000 | -383,119,000 | 192,032,000 | 191,907,000 | 190,967,000 | -379,382,000 | 190,429,000 | 190,114,000 | 188,866,000 | -375,000,000 | 188,219,000 | 187,948,000 | 186,667,000 | -369,575,000 | 185,597,000 | |
| Shares (Diluted) | 194,467,000 | 197,671,000 | -388,203,000 | 192,032,000 | 197,091,000 | 196,474,000 | -400,206,000 | 197,147,000 | 200,505,000 | 199,262,000 | -388,939,000 | 191,173,000 | 194,998,000 | 194,363,000 | -378,968,000 | 185,597,000 | |
| EBITDA | $111M | $146M | · | $-47M | $277M | $246M | · | $114M | $120M | $116M | · | $26M | $59M | $86M | · | $-2M |
Balance Sheet 25
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $874M | $2.22B | $1.31B | $1.25B | $1.21B | $1.05B | $943M | $675M | $972M | $747M | · | $785M | $694M | $580M | · | $762M | |
| Receivables | $1.06B | $904M | $908M | $790M | $856M | $739M | $661M | $778M | $691M | $637M | · | $572M | $610M | $598M | · | $420M | |
| Inventory | $1.78B | $1.27B | $1.30B | $1.38B | $1.34B | $1.27B | $1.23B | $1.18B | $1.18B | $1.14B | · | $1.03B | $976M | $919M | · | $839M | |
| Other Current Assets | $254M | $206M | $186M | $204M | $177M | $182M | $202M | $169M | $160M | $163M | · | $225M | $193M | $173M | · | $150M | |
| Current Assets | $3.97B | $4.61B | $3.95B | $3.85B | $3.81B | $3.47B | $3.23B | $3.06B | $3.26B | $2.99B | · | $2.96B | $2.95B | $2.84B | · | $2.68B | |
| PP&E (Net) | $990M | $958M | $953M | $1.04B | $1.03B | $1.03B | $1.04B | $1.05B | $1.05B | $1.06B | · | $1.07B | $1.07B | $1.07B | · | $1.05B | |
| PP&E (Gross) | $2.10B | $2.05B | $2.03B | $1.99B | $1.96B | $1.94B | $1.93B | $1.91B | $1.96B | $1.95B | · | $1.92B | $1.90B | $1.88B | · | $1.83B | |
| Accum. Depreciation | $1.11B | $1.09B | $1.07B | $950M | $931M | $908M | $892M | $869M | $910M | $888M | · | $851M | $829M | $807M | · | $782M | |
| Goodwill | $656M | $196M | $196M | $196M | $196M | $196M | $196M | $196M | $196M | $196M | · | $196M | $196M | $196M | · | $196M | |
| Intangibles | $4.88B | $205M | $214M | $233M | $240M | $247M | $255M | $261M | $266M | $280M | · | $302M | $310M | $326M | · | $354M | |
| Other Non-current Assets | $338M | $276M | $277M | $271M | $249M | $236M | $251M | $199M | $191M | $185M | · | $165M | $144M | $150M | · | $152M | |
| Total Assets | $11.72B | $8.59B | $7.59B | $7.61B | $7.46B | $7.15B | $6.99B | $6.85B | $7.07B | $6.87B | · | $6.76B | $6.56B | $6.43B | · | $6.26B | |
| Accounts Payable | $1.01B | $793M | $759M | $798M | $684M | $628M | $607M | $716M | $572M | $594M | · | $670M | $597M | $598M | · | $493M | |
| Current Liabilities | $1.66B | $793M | $759M | $798M | $684M | $628M | $607M | $716M | $1.07B | $1.09B | · | $1.16B | $597M | $598M | · | $521M | |
| Capital Leases | · | · | $37M | · | · | · | $31M | · | · | · | · | · | · | · | · | · | |
| Other Non-current Liabilities | $210M | $155M | $151M | $163M | $149M | $130M | $129M | $128M | $119M | $117M | · | $105M | $98M | $92M | · | $92M | |
| Total Liabilities | $5.40B | $2.38B | $1.51B | $1.56B | $1.43B | $1.35B | $1.33B | $1.44B | $1.78B | $1.80B | · | $1.86B | $1.78B | $1.77B | · | $1.70B | |
| Long-term Debt | $4.19B | $1.43B | · | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| Total Debt | $4.19B | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| Common Stock | $194.0K | $193.0K | $192.0K | $192.0K | $192.0K | $192.0K | $191.0K | $191.0K | $190.0K | $190.0K | · | $188.0K | $188.0K | $188.0K | · | $186.0K | |
| Retained Earnings | $304M | $260M | $154M | $201M | $232M | $-9M | $-195M | $-320M | $-426M | $-533M | · | $-642M | $-682M | $-738M | · | $-789M | |
| AOCI | $-9M | $-4M | $-13M | $-34M | $-45M | $19M | $62M | $5M | $27M | $-1M | · | $6M | $-19M | $-11M | · | $31M | |
| Stockholders' Equity | $6.32B | $6.21B | $6.09B | $6.06B | $6.03B | $5.79B | $5.66B | $5.41B | $5.29B | $5.07B | $4.95B | $4.90B | $4.78B | $4.66B | $4.60B | $4.57B | |
| Liabilities + Equity | $11.72B | $8.59B | $7.59B | $7.61B | $7.46B | $7.15B | $6.99B | $6.85B | $7.07B | $6.87B | · | $6.76B | $6.56B | $6.43B | · | $6.26B | |
| Shares Outstanding | 193,535,556 | 193,268,870 | 192,300,101 | 192,098,751 | 192,001,650 | 191,755,802 | 190,761,349 | 190,553,918 | 190,355,517 | 189,776,577 | 188,598,000 | 188,339,482 | 188,151,695 | 187,601,106 | 186,251,000 | 185,824,253 |
Cash Flow 13
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $98M | $16M | $20M | $18M | $19M | $22M | $24M | $19M | $26M | $27M | $27M | $26M | $25M | $26M | $25M | $25M | |
| Stock-based Comp | $76M | $43M | $47M | $49M | $48M | $38M | $52M | $43M | $48M | $58M | $55M | $48M | $50M | $54M | $47M | $55M | |
| Deferred Tax | $-7M | $9M | $613.0K | $-14M | $33M | $28M | $42M | $12M | $1M | $285.0K | $-25M | $-15M | $1M | $-6M | $-51M | $-4M | |
| Amort. of Intangibles | $73M | $4M | $5M | $5M | $5M | $5M | $10M | $5M | $14M | $14M | $15M | $16M | $16M | $16M | · | · | |
| Restructuring | $56M | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| Other Non-cash | · | $46M | · | · | · | $-99M | · | · | · | $-128M | · | · | · | $-199M | · | · | |
| Operating Cash Flow | $168M | $221M | $100M | $369M | $185M | $174M | $186M | $221M | $119M | $47M | $27M | $136M | $70M | $-74M | $7M | $158M | |
| CapEx | $29M | $21M | $41M | $28M | $17M | $17M | $20M | $18M | $21M | $26M | $29M | $22M | $22M | $24M | $36M | $29M | |
| Investing Cash Flow | $-5.10B | $726M | $-42M | $-331M | $-13M | $-28M | $76M | $-16M | $90M | $-14M | $-65M | $-46M | $30M | $-30M | $-55M | $-23M | |
| Financing Cash Flow | $2.74B | $813M | $3M | $-2M | $-5M | $-39M | $3M | $-499M | $13M | $-43M | $11M | $-788.0K | $12M | $-41M | $11M | $8M | |
| Net Change in Cash | $-2.20B | $1.76B | $62M | $36M | $165M | $106M | $267M | $-297M | $225M | $-8M | $-30M | $91M | $114M | $-144M | $-37M | $142M | |
| Free Cash Flow | · | $200M | · | · | · | $158M | · | · | · | $21M | · | · | · | $-98M | · | · | |
| Levered FCF | · | $193M | · | · | · | · | · | · | · | $18M | · | · | · | $-102M | · | · |
Profitability 7
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | 11.2% | 16.9% | · | -6.0% | 33.6% | 30.0% | · | 15.3% | 16.9% | 13.6% | · | 4.4% | 9.9% | 10.0% | · | -0.48% | |
| Net Margin | 4.5% | 13.8% | · | -4.0% | 29.1% | 24.9% | · | 14.2% | 15.0% | 13.7% | · | 7.0% | 9.4% | 8.5% | · | -1.3% | |
| Pretax Margin | 6.2% | 18.4% | · | -3.4% | 36.1% | 31.9% | · | 18.0% | 18.6% | 16.3% | · | 7.2% | 11.9% | 9.5% | · | -0.38% | |
| EBITDA Margin | 11.2% | 19.1% | · | -6.0% | 33.6% | 33.0% | · | 15.3% | 16.9% | 17.8% | · | 4.4% | 9.9% | 14.4% | · | -0.48% | |
| ROA | 0.47% | 1.3% | · | -0.43% | 3.3% | 2.6% | · | 1.6% | 1.6% | 1.3% | · | 0.62% | 0.88% | 0.81% | · | -0.11% | |
| ROE | 0.72% | 1.8% | · | -0.54% | 4.2% | 3.4% | · | 2.1% | 2.1% | 1.8% | · | 0.85% | 1.2% | 1.1% | · | -0.15% | |
| ROIC | 0.77% | 1.6% | · | -0.90% | 3.7% | 3.0% | · | 1.7% | 1.8% | 1.5% | · | 0.51% | 0.97% | 1.1% | · | -0.18% |
Liquidity & Solvency 5
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.4 | 5.8 | · | 4.8 | 5.6 | 5.5 | · | 4.3 | 3.1 | 2.7 | · | 2.5 | 4.9 | 4.8 | · | 5.1 | |
| Quick Ratio | 1.2 | 3.9 | · | 2.6 | 3.0 | 2.8 | · | 2.0 | 1.6 | 1.3 | · | 1.2 | 2.2 | 2.0 | · | 2.3 | |
| Debt / Equity | 0.7 | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| LT Debt / Equity | 0.6 | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| Interest Coverage | 1.8 | 13.5 | · | · | · | · | · | · | · | 24.9 | · | 6.8 | 15.7 | 16.0 | · | -0.5 |
Efficiency 3
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | |
| Inventory Turnover | 0.1 | 0.2 | · | 0.1 | 0.1 | 0.1 | · | 0.2 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | |
| Receivables Turnover | 1.0 | 0.9 | · | 1.0 | 1.1 | 1.1 | · | 1.1 | 1.1 | 1.1 | · | 1.2 | 1.1 | 1.2 | · | 1.3 |
Valuation (TTM) 13
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $3.36B | $3.11B | · | $3.09B | $3.03B | $2.85B | · | $2.69B | $2.54B | $2.42B | · | $2.28B | $2.23B | $2.15B | · | $1.97B | |
| Net Income TTM | $360M | $501M | · | $502M | $639M | $488M | · | $342M | $292M | $236M | · | $141M | $128M | $193M | · | $105M | |
| Market Cap | $11.07B | $10.92B | · | $10.40B | $10.55B | $13.56B | · | $13.39B | $15.67B | $16.58B | · | $16.66B | $16.31B | $18.24B | · | $15.75B | |
| Enterprise Value | $14.39B | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| P/E | 31.1 | 22.1 | · | 21.1 | 16.8 | 28.2 | · | 39.7 | 54.5 | 71.0 | · | 121.2 | 129.4 | 96.3 | · | 157.0 | |
| P/S | 3.3 | 3.5 | · | 3.4 | 3.5 | 4.8 | · | 5.0 | 6.2 | 6.8 | · | 7.3 | 7.3 | 8.5 | · | 8.0 | |
| P/B | 1.8 | 1.8 | · | 1.7 | 1.8 | 2.3 | · | 2.5 | 3.0 | 3.3 | · | 3.4 | 3.4 | 3.9 | · | 3.4 | |
| P / Tangible Book | 14.1 | 1.9 | · | 1.8 | 1.9 | 2.5 | · | 2.7 | 3.2 | 3.6 | · | 3.8 | 3.8 | 4.4 | · | 3.9 | |
| P / Cash Flow | · | 49.5 | · | · | · | 77.7 | · | · | · | 352.9 | · | · | · | -246.7 | · | · | |
| P / FCF | · | 54.7 | · | · | · | 86.0 | · | · | · | 794.3 | · | · | · | -185.4 | · | · | |
| EV / EBITDA | 129.7 | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| EV / Revenue | 4.3 | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| Earnings Yield | 3.2% | 4.5% | · | 4.8% | 6.0% | 3.5% | · | 2.5% | 1.8% | 1.4% | · | 0.83% | 0.77% | 1.0% | · | 0.64% |
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
Income Statement
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Revenue | $3.22B | $2.85B | $2.42B | $2.10B | $1.85B |
| Operating Margin % | 12.7% | 17.0% | 6.5% | 7.1% | -4.5% |
| Net Income | $349M | $427M | $168M | $142M | $-64M |
| Diluted EPS | $1.80 | $2.21 | $0.87 | $0.75 | $-0.35 |
Balance Sheet
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Current Ratio | 5.2 | 5.3 | 2.5 | 4.7 | 4.2 |
| Quick Ratio | 2.9 | 2.6 | 1.2 | 2.0 | 1.8 |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | $725M | $487M | $63M | $55M | $209M |
Latest News Recent headlines mentioning this company
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Trading Signals Recent buy/sell signals with entry price and risk/reward ratio
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Institutional owners (13F) 616 filers · $8.6B total · As of June 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 89 (-12 vs prior Q) | 75 (+10 vs prior Q) | 195 (-13 vs prior Q) | 205 (+40 vs prior Q) | +10.3M |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| Dodge & Cox | $849,426,895 | 14,844,930 | 9.87% | Shares |
| PRIMECAP MANAGEMENT CO/CA/ | $811,962,329 | 14,190,183 | 9.44% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $500,310,680 | 8,743,633 | 5.82% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $494,877,355 | 8,648,678 | 5.75% | Shares |
| NORGES BANK | $469,659,128 | 8,207,954 | 5.46% | Shares |
| STATE STREET CORP | $446,370,874 | 7,800,959 | 5.19% | Shares |
| VIKING GLOBAL INVESTORS LP | $435,819,735 | 7,616,563 | 5.07% | Shares |
| Vestal Point Capital, LP | $344,750,500 | 6,025,000 | 4.01% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $216,743,752 | 3,787,902 | 2.52% | Shares |
| Capital Research Global Investors | $200,521,024 | 3,504,387 | 2.33% | Shares |
| FMR LLC | $196,878,227 | 3,440,724 | 2.29% | Shares |
| Deep Track Capital, LP | $189,254,063 | 3,307,481 | 2.20% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $180,073,856 | 3,146,120 | 2.09% | Shares |
| MILLENNIUM MANAGEMENT LLC | $118,549,312 | 2,071,816 | 1.38% | Shares |
| Assenagon Asset Management S.A. | $100,826,561 | 1,762,086 | 1.17% | Shares |
| FIRST TRUST ADVISORS LP | $91,910,897 | 1,606,273 | 1.07% | Shares |
| Jones Hill Capital LP | $81,915,580 | 1,431,590 | 0.95% | Shares |
| DEERFIELD MANAGEMENT COMPANY, L.P. | $76,264,876 | 1,332,836 | 0.89% | Shares |
| Swedbank AB | $75,232,112 | 1,314,787 | 0.87% | Shares |
| DNB Asset Management AS | $72,566,061 | 1,268,194 | 0.84% | Shares |
| Caisse de depot et placement du Quebec | $70,749,440 | 1,236,446 | 0.82% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $70,030,356 | 1,223,879 | 0.81% | Shares |
| AMERIPRISE FINANCIAL INC | $65,664,916 | 1,147,544 | 0.76% | Shares |
| CITADEL ADVISORS LLC | $64,224,186 | 1,122,408 | 0.75% | Shares |
| Balyasny Asset Management L.P. | $60,344,956 | 1,054,613 | 0.70% | Shares |
| ARGA Investment Management, LP | $59,474,983 | 1,039,409 | 0.69% | Shares |
| GOLDMAN SACHS GROUP INC | $56,321,074 | 984,290 | 0.65% | Shares |
| Brandywine Global Investment Management, LLC | $56,211,687 | 945,847 | 0.65% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $54,484,884 | 952,200 | 0.63% | Call option |
| MACKENZIE FINANCIAL CORP | $53,321,258 | 931,864 | 0.62% | Shares |
| FRANKLIN RESOURCES INC | $47,889,936 | 836,944 | 0.56% | Shares |
| Hudson Bay Capital Management LP | $47,206,500 | 825,000 | 0.55% | Shares |
| FORT WASHINGTON INVESTMENT ADVISORS INC /OH/ | $40,949,264 | 715,646 | 0.48% | Shares |
| LOS ANGELES CAPITAL MANAGEMENT LLC | $39,869,980 | 696,784 | 0.46% | Shares |
| EDMOND DE ROTHSCHILD HOLDING S.A. | $39,311,857 | 687,030 | 0.46% | Shares |
| Palo Alto Investors LP | $39,068,500 | 682,777 | 0.45% | Shares |
| Defilade Capital Management, L.P. | $39,024,326 | 682,005 | 0.45% | Shares |
| Qube Research & Technologies Ltd | $38,270,739 | 668,835 | 0.44% | Shares |
| Eagle Health Investments LP | $35,743,961 | 624,676 | 0.42% | Shares |
| VICTORY CAPITAL MANAGEMENT INC | $34,419,661 | 601,532 | 0.40% | Shares |
| BOONE CAPITAL MANAGEMENT LLC | $33,371,791 | 583,219 | 0.39% | Shares |
| Camber Capital Management LP | $32,982,000 | 600,000 | 0.38% | Shares |
| River Road Asset Management, LLC | $31,069,888 | 542,990 | 0.36% | Shares |
| RHUMBLINE ADVISERS | $29,570,438 | 516,786 | 0.34% | Shares |
| Trails Edge Capital Partners, LP | $29,296,640 | 512,000 | 0.34% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $28,048,615 | 490,189 | 0.33% | Shares |
| Jefferies Financial Group Inc. | $26,679,283 | 466,258 | 0.31% | Shares |
| LOOMIS SAYLES & CO L P | $25,986,177 | 454,145 | 0.30% | Shares |
| RENAISSANCE TECHNOLOGIES LLC | $25,856,059 | 451,871 | 0.30% | Shares |
| HOTCHKIS & WILEY CAPITAL MANAGEMENT LLC | $25,588,784 | 447,200 | 0.30% | Shares |
| California Public Employees Retirement System | $25,124,959 | 439,094 | 0.29% | Shares |
| Rockefeller Capital Management L.P. | $24,797,775 | 433,376 | 0.29% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $24,038,122 | 420,100 | 0.28% | Put option |
| SEB Asset Management AB | $23,583,178 | 412,150 | 0.27% | Shares |
| Robeco Institutional Asset Management B.V. | $23,358,064 | 408,215 | 0.27% | Shares |
| Pictet Asset Management Holding SA | $22,789,414 | 395,382 | 0.26% | Shares |
| BlackRock, Inc. | $22,697,229 | 396,666 | 0.26% | Shares |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. | $22,513,495 | 393,455 | 0.26% | Shares |
| PRUDENTIAL FINANCIAL INC | $22,325,585 | 390,171 | 0.26% | Shares |
| Soleus Capital Management, L.P. | $21,490,230 | 375,572 | 0.25% | Shares |
| Freestone Grove Partners LP | $20,839,181 | 364,194 | 0.24% | Shares |
| Sofinnova Investments, Inc. | $20,517,261 | 358,568 | 0.24% | Shares |
| Swiss National Bank | $20,427,540 | 357,000 | 0.24% | Shares |
| LAZARD ASSET MANAGEMENT LLC | $20,049,716 | 350,397 | 0.23% | Shares |
| BANK OF AMERICA CORP /DE/ | $19,371,831 | 338,550 | 0.23% | Shares |
| EASTERLY INVESTMENT PARTNERS LLC | $18,847,524 | 329,387 | 0.22% | Shares |
| SPHERA FUNDS MANAGEMENT LTD. | $18,799,631 | 328,550 | 0.22% | Shares |
| DIADEMA PARTNERS LP | $17,901,048 | 312,846 | 0.21% | Shares |
| SECTOR GAMMA AS | $16,875,208 | 294,918 | 0.20% | Shares |
| Rhenman & Partners Asset Management AB | $16,622,410 | 290,500 | 0.19% | Shares |
| Walleye Capital LLC | $16,492,692 | 288,233 | 0.19% | Shares |
| SYSTEMATIC FINANCIAL MANAGEMENT LP | $16,114,296 | 281,620 | 0.19% | Shares |
| ALLIANCEBERNSTEIN L.P. | $16,009,266 | 283,400 | 0.19% | Shares |
| Bridgewater Associates, LP | $15,730,407 | 274,911 | 0.18% | Shares |
| Susquehanna Portfolio Strategies, LLC | $15,653,218 | 273,562 | 0.18% | Shares |
| Redmile Group, LLC | $15,172,970 | 265,169 | 0.18% | Shares |
| Amundi | $14,864,727 | 259,782 | 0.17% | Shares |
| Eversept Partners, LP | $14,282,513 | 249,607 | 0.17% | Shares |
| Distillate Capital Partners LLC | $14,242,974 | 248,916 | 0.17% | Shares |
| RICE HALL JAMES & ASSOCIATES, LLC | $14,203,377 | 248,224 | 0.17% | Shares |
| CAPITAL FUND MANAGEMENT S.A. | $13,470,789 | 235,421 | 0.16% | Shares |
| CITADEL ADVISORS LLC | $13,189,210 | 230,500 | 0.15% | Call option |
| CANADA PENSION PLAN INVESTMENT BOARD | $12,868,778 | 224,900 | 0.15% | Shares |
| M&G PLC | $12,317,472 | 216,096 | 0.14% | Shares |
| GLENMEDE TRUST CO NA | $11,782,055 | 205,908 | 0.14% | Shares |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $11,662,523 | 203,819 | 0.14% | Shares |
| Retirement Systems of Alabama | $11,438,907 | 199,911 | 0.13% | Shares |
| IEQ CAPITAL, LLC | $11,328,874 | 197,988 | 0.13% | Shares |
| Mariner, LLC | $11,021,160 | 192,607 | 0.13% | Shares |
| Monaco Asset Management SAM | $10,582,095 | 184,937 | 0.12% | Shares |
| Engineers Gate Manager LP | $10,393,841 | 181,647 | 0.12% | Shares |
| VANGUARD ASSET MANAGEMENT, Ltd | $9,840,867 | 171,983 | 0.11% | Shares |
| NOMURA ASSET MANAGEMENT INTERNATIONAL INC. | $9,713,000 | 169,746 | 0.11% | Shares |
| RAYMOND JAMES FINANCIAL INC | $9,595,050 | 167,687 | 0.11% | Shares |
| VAN ECK ASSOCIATES CORP | $9,444,504 | 165,056 | 0.11% | Shares |
| PEREGRINE CAPITAL MANAGEMENT LLC | $9,310,495 | 162,714 | 0.11% | Shares |
| CWM, LLC | $9,018,745 | 159,652 | 0.10% | Shares |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM | $9,015,469 | 157,558 | 0.10% | Shares |
| BARCLAYS PLC | $8,865,839 | 154,943 | 0.10% | Shares |
| Legal & General Group Plc | $8,722,675 | 152,441 | 0.10% | Shares |
Company insiders 48 insiders · 19 officers · 29 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Alexander Hardy | Chief Executive Officer | March 17, 2025 A | 175,583 | 0 | 0 | $0 |
| Louis Drapeau | Chief Executive Officer | May 2, 2005 A | 14,934 | 0 | 0 | $0 |
| Fredric D Price | Chief Executive Officer | May 6, 2004 P | 79,285 | 0 | 0 | $0 |
| Brian Mueller | EVP, Chief Financial Officer | March 17, 2025 A | 99,781 | 0 | 0 | $0 |
| Daniel K Spiegelman | EVP, Chief Financial Officer | June 22, 2018 S | 51,070 | 0 | 0 | $0 |
| Jeffrey H Cooper | SVP, Chief Financial Officer | May 14, 2012 M | 41,089 | 0 | 0 | $0 |
| Henry J Fuchs | President, Worldwide R&D | Sept. 13, 2024 F | 185,074 | 0 | 0 | $0 |
| Cristin Hubbard | EVP, Chief Commercial Officer | May 20, 2025 F | 30,545 | 0 | 0 | $0 |
| Erin Burkhart | GVP, Chief Accounting Officer | May 20, 2025 S | 14,173 | 0 | 0 | $0 |
| Gregory R Friberg | EVP, Chief R&D Officer | March 17, 2025 A | 46,810 | 0 | 0 | $0 |
| Charles Greg Guyer | EVP, Chief Technical Officer | March 17, 2025 A | 80,838 | 0 | 0 | $0 |
| George Eric Davis | EVP, Chief Legal Officer | March 17, 2025 A | 82,915 | 0 | 0 | $0 |
| Jeffrey Robert Ajer | EVP, Chief Commercial Officer | May 2, 2024 S | 66,767 | 0 | 0 | $0 |
| Robert Baffi | EVP, Technical Operations | June 22, 2018 M | 83,276 | 0 | 0 | $0 |
| Steve Aselage | EVP, Chief Business Officer | July 2, 2012 M | 59,030 | 0 | 0 | $0 |
| Emil D Kakkis | Chief Medical Officer | March 2, 2009 M | 39,621 | 0 | 0 | $0 |
| Stuart J Swiedler | SVP, Clinical Affairs | July 7, 2008 A | 12,000 | 0 | 0 | $0 |
| Christopher M Starr | SVP, Chief Scientific Officer | Dec. 1, 2005 M | 295,176 | 0 | 0 | $0 |
| Jeffrey Landau | SVP, Administration | Oct. 31, 2004 A | 2,740 | 0 | 0 | $0 |
| Elizabeth M Anderson | Director | June 2, 2026 A | 41,940 | 0 | 0 | $0 |
| Barbara W. Bodem | Director | June 2, 2026 A | 21,045 | 0 | 0 | $0 |
| Maykin Ho | Director | June 2, 2026 A | 35,500 | 0 | 0 | $0 |
| Mark J Enyedy | Director | June 2, 2026 A | 21,040 | 0 | 0 | $0 |
| Athena Countouriotis | Director | June 2, 2026 A | 21,040 | 0 | 0 | $0 |
| Robert J. Hombach | Director | June 2, 2026 A | 49,360 | 0 | 0 | $0 |
| Timothy P Walbert | Director | June 2, 2026 A | 17,270 | 0 | 0 | $0 |
| Ian T Clark | Director | June 2, 2026 A | 14,490 | 0 | 0 | $0 |
| Willard H Dere | Director | June 2, 2026 A | 46,440 | 0 | 0 | $0 |
| Richard A Meier | Director | May 20, 2025 A | 127,426 | 0 | 0 | $0 |
| Elaine J Heron | Director | June 3, 2024 M | 97,720 | 0 | 0 | $0 |
| David E I Pyott | Director | May 21, 2024 A | 49,750 | 0 | 0 | $0 |
| Jean Jacques Bienaime | Director | May 20, 2024 F | 473,792 | 0 | 0 | $0 |
| Dennis Slamon | Director | March 18, 2024 M | 31,299 | 0 | 0 | $0 |
| Mark J Alles | Director | May 23, 2023 A | 15,095 | 0 | 0 | $0 |
| Bryan V Lawlis | Director | May 23, 2023 A | 33,140 | 0 | 0 | $0 |
| Michael G Grey | Director | June 5, 2018 A | 34,110 | 0 | 0 | $0 |
| Alan Lewis | Director | June 5, 2018 A | 25,360 | 0 | 0 | $0 |
| Kathryn E Falberg | Director | July 15, 2016 A | 2,640 | 0 | 0 | $0 |
| William D Young | Director | June 10, 2015 A | 11,875 | 0 | 0 | $0 |
| Kenneth Bate | Director | June 10, 2015 A | 11,875 | 0 | 0 | $0 |
| Pierre Lapalme | Director | June 10, 2015 A | 31,250 | 0 | 0 | $0 |
| Joseph Klein III | Director | March 8, 2010 S | 35,000 | 0 | 0 | $0 |
| Franz L Cristiani | Director | June 14, 2006 A | — | 0 | 0 | $0 |
| Erich Sager | Director | Feb. 24, 2006 M | 3,309 | 0 | 0 | $0 |
| Gwynn Williams | Director | Nov. 30, 2004 A | 812,565 | 0 | 0 | $0 |
| John Urquhart | Director | July 28, 2004 A | — | 0 | 0 | $0 |
| BIOMARIN PHARMACEUTICAL INC | 10% owner | Dec. 8, 2012 J | 6,666,667 | 0 | 0 | $0 |
| Mark Wood | — | May 22, 2013 M | 20,277 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
Activists & 5%+ owners 4 positions
Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.
| Filer | Filed | Stake | Status | Purpose | Filing |
|---|---|---|---|---|---|
| BioMarin Pharmaceutical Inc., BioMarin Falcons B.V., BioMarin Giants B.V. ×5 filings | Feb. 2, 2015 | — | Initial filing | — | SEC |
| Millenco LLC, Integrated Core Strategies (US) LLC, Catapult Partners, Ltd., Catapult Capital Management LLC, Millennium International Management LP, Millennium International Management GP LLC, Millennium Management LLC, Israel A. Englander ×2 filings | July 31, 2009 | — | Initial filing | — | SEC |
| June 6, 2005 | — | Initial filing | Board campaign | SEC | |
| OrbiMed Advisors LLC, OrbiMed Capital LLC, Samuel D. Isaly, Richard B. Brewer, Joseph Klein, III ×2 filings | May 6, 2005 | — | Initial filing | — | SEC |
Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.
ETF ownership Held by 115 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| GNOM · Global X Funds | 4.09% | 39,792 NS | May 31, 2026 | N-PORT |
| PBE · Invesco Exchange-Traded Fund Trust | 2.95% | 173,298 SH | Aug. 21, 2026 | Daily |
| FBT · First Trust Exchange-Traded Fund | 2.83% | 1,391,830 NS | June 30, 2026 | N-PORT |
| BBP · ETFis Series Trust I | 1.61% | 17,750 NS | April 30, 2026 | N-PORT |
| HTEC · EXCHANGE TRADED CONCEPTS TRUST | 1.27% | 12,555 NS | April 30, 2026 | N-PORT |
| SRHQ · Elevation Series Trust | 1.14% | 40,919 NS | April 30, 2026 | N-PORT |
| RNIN · EA Series Trust | 1.12% | 31,743 NS | April 30, 2026 | N-PORT |
| FTXH · First Trust Exchange-Traded Fund VI | 1.11% | 7,061 NS | June 30, 2026 | N-PORT |
| IBB · iShares Trust | 0.91% | 1,422,957 SH | Aug. 21, 2026 | Daily |
| IBBQ · Invesco Exchange-Traded Fund Trust … | 0.84% | 11,352 SH | Aug. 21, 2026 | Daily |
| LABU · Direxion Shares ETF Trust | 0.84% | 80,485 NS | April 30, 2026 | N-PORT |
| FXH · First Trust Exchange-Traded AlphaDE… | 0.83% | 133,988 NS | April 30, 2026 | N-PORT |
| LSEQ · Harbor ETF Trust | 0.69% | 1,977 NS | April 30, 2026 | N-PORT |
| AFMC · First Trust Exchange-Traded Fund VI… | 0.64% | 18,230 NS | May 31, 2026 | N-PORT |
| BIB · ProShares Trust | 0.55% | 7,110 NS | May 31, 2026 | N-PORT |
| TMFX · RBB Fund, Inc. | 0.54% | 3,021 NS | May 31, 2026 | N-PORT |
| SYZ · Lazard Active ETF Trust | 0.52% | 6,190 NS | June 30, 2026 | N-PORT |
| ABCS · EA Series Trust | 0.48% | 948 NS | May 29, 2026 | N-PORT |
| MIDE · DBX ETF Trust | 0.44% | 259 NS | May 29, 2026 | N-PORT |
| IQSM · New York Life Investments ETF Trust | 0.43% | 24,857 NS | April 30, 2026 | N-PORT |
| QVMM · Invesco Exchange-Traded Fund Trust … | 0.41% | 26,193 SH | Aug. 21, 2026 | Daily |
| IVOG · VANGUARD ADMIRAL FUNDS | 0.33% | 108,709 SH | Aug. 19, 2026 | Daily |
| PTMC · Pacer Funds Trust | 0.30% | 22,042 NS | April 30, 2026 | N-PORT |
| VBK · VANGUARD INDEX FUNDS | 0.30% | 2,559,860 SH | Aug. 19, 2026 | Daily |
| IVOO · VANGUARD ADMIRAL FUNDS | 0.30% | 312,378 SH | Aug. 19, 2026 | Daily |
| DFSV · Dimensional ETF Trust | 0.29% | 400,897 NS | April 30, 2026 | N-PORT |
| BKMC · BNY Mellon ETF Trust | 0.28% | 31,691 NS | April 30, 2026 | N-PORT |
| IVOV · VANGUARD ADMIRAL FUNDS | 0.27% | 71,381 SH | Aug. 19, 2026 | Daily |
| ISCV · iShares Trust | 0.27% | 27,848 SH | Aug. 21, 2026 | Daily |
| FNY · First Trust Exchange-Traded AlphaDE… | 0.25% | 24,275 NS | April 30, 2026 | N-PORT |
| MVV · ProShares Trust | 0.24% | 6,639 NS | May 31, 2026 | N-PORT |
| JIII · Janus Detroit Street Trust | 0.22% | 6,823 NS | April 30, 2026 | N-PORT |
| MIDU · Direxion Shares ETF Trust | 0.21% | 3,182 NS | April 30, 2026 | N-PORT |
| BBMC · J.P. Morgan Exchange-Traded Fund Tr… | 0.21% | 77,243 NS | April 30, 2026 | N-PORT |
| SCHM · SCHWAB STRATEGIC TRUST | 0.20% | 518,955 NS | May 31, 2026 | N-PORT |
| ISCB · iShares Trust | 0.20% | 8,655 SH | Aug. 21, 2026 | Daily |
| IYH · iShares Trust | 0.20% | 114,252 SH | Aug. 21, 2026 | Daily |
| SMMD · iShares Trust | 0.17% | 98,032 SH | Aug. 21, 2026 | Daily |
| UMDD · ProShares Trust | 0.17% | 927 NS | May 31, 2026 | N-PORT |
| RWK · Invesco Exchange-Traded Fund Trust … | 0.16% | 31,608 SH | Aug. 21, 2026 | Daily |
| VFMF · VANGUARD WELLINGTON FUND | 0.16% | 19,998 SH | Aug. 19, 2026 | Daily |
| FHLC · FIDELITY COVINGTON TRUST | 0.16% | 84,082 NS | April 30, 2026 | N-PORT |
| FNDA · SCHWAB STRATEGIC TRUST | 0.16% | 245,186 NS | May 31, 2026 | N-PORT |
| VHT · VANGUARD WORLD FUND | 0.15% | 534,462 SH | Aug. 19, 2026 | Daily |
| ISCG · iShares Trust | 0.14% | 21,297 SH | Aug. 21, 2026 | Daily |
| VFVA · VANGUARD WELLINGTON FUND | 0.14% | 20,990 SH | Aug. 19, 2026 | Daily |
| DFAS · Dimensional ETF Trust | 0.14% | 361,639 NS | April 30, 2026 | N-PORT |
| ESML · iShares Trust | 0.13% | 55,771 SH | Aug. 21, 2026 | Daily |
| VB · VANGUARD INDEX FUNDS | 0.13% | 4,433,137 SH | Aug. 19, 2026 | Daily |
| IWS · iShares Trust | 0.12% | 288,341 SH | Aug. 21, 2026 | Daily |