DAVENPORT & Co LLC Acquires 33,294 Shares of Celgene Co. (CELG)

DAVENPORT & Co LLC raised its holdings in Celgene Co. (NASDAQ:CELG) by 5.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 600,499 shares of the biopharmaceutical company’s stock after purchasing an additional 33,294 shares during the period. DAVENPORT & Co LLC owned approximately 0.08% of Celgene worth $62,668,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Koshinski Asset Management Inc. lifted its holdings in shares of Celgene by 24.4% during the 4th quarter. Koshinski Asset Management Inc. now owns 16,147 shares of the biopharmaceutical company’s stock worth $1,685,000 after acquiring an additional 3,169 shares during the period. Sippican Capital Advisors lifted its holdings in shares of Celgene by 82.6% during the 4th quarter. Sippican Capital Advisors now owns 11,206 shares of the biopharmaceutical company’s stock worth $1,169,000 after acquiring an additional 5,068 shares during the period. Stralem & Co. Inc. lifted its holdings in shares of Celgene by 33.1% during the 4th quarter. Stralem & Co. Inc. now owns 135,243 shares of the biopharmaceutical company’s stock worth $14,114,000 after acquiring an additional 33,660 shares during the period. Thompson Rubinstein Investment Management Inc. OR bought a new stake in shares of Celgene during the 4th quarter worth approximately $1,537,000. Finally, Community Bank & Trust Waco Texas lifted its holdings in shares of Celgene by 4.0% during the 4th quarter. Community Bank & Trust Waco Texas now owns 23,786 shares of the biopharmaceutical company’s stock worth $2,482,000 after acquiring an additional 914 shares during the period. 78.10% of the stock is owned by hedge funds and other institutional investors.

Celgene Co. (NASDAQ:CELG) opened at $96.14 on Friday. The company has a market cap of $72,310.00, a P/E ratio of 26.63, a P/E/G ratio of 0.65 and a beta of 1.49. The company has a debt-to-equity ratio of 2.29, a current ratio of 4.99 and a quick ratio of 4.80. Celgene Co. has a 52 week low of $88.32 and a 52 week high of $147.17.

Celgene (NASDAQ:CELG) last issued its quarterly earnings data on Thursday, January 25th. The biopharmaceutical company reported $1.87 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.78 by $0.09. Celgene had a negative net margin of 2.33% and a negative return on equity of 3.87%. The business had revenue of $3.48 billion during the quarter, compared to the consensus estimate of $3.46 billion. During the same quarter in the prior year, the firm earned $1.61 EPS. The firm’s revenue was up 16.9% compared to the same quarter last year. equities analysts expect that Celgene Co. will post 7.68 earnings per share for the current year.

Celgene declared that its Board of Directors has initiated a stock buyback plan on Wednesday, February 14th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the biopharmaceutical company to purchase shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

In other Celgene news, insider Mark J. Alles purchased 3,260 shares of the firm’s stock in a transaction on Thursday, February 8th. The stock was purchased at an average cost of $91.90 per share, for a total transaction of $299,594.00. Following the transaction, the insider now owns 178,904 shares in the company, valued at approximately $16,441,277.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.95% of the company’s stock.

A number of analysts have recently weighed in on the stock. Vetr raised shares of Celgene from a “buy” rating to a “strong-buy” rating and set a $116.84 price target for the company in a report on Thursday, January 25th. Mizuho set a $128.00 price target on shares of Celgene and gave the stock a “buy” rating in a report on Tuesday, December 26th. William Blair reaffirmed an “outperform” rating on shares of Celgene in a report on Friday, October 20th. BTIG Research reaffirmed a “hold” rating on shares of Celgene in a report on Tuesday, January 23rd. Finally, BidaskClub raised shares of Celgene from a “sell” rating to a “hold” rating in a report on Tuesday, December 12th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $130.25.

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Celgene Company Profile

Celgene Corporation is an integrated global biopharmaceutical company. The Company, together with its subsidiaries, is engaged in the discovery, development and commercialization of therapies for the treatment of cancer and inflammatory diseases through solutions in protein homeostasis, immuno-oncology, epigenetics, immunology and neuro-inflammation.

Institutional Ownership by Quarter for Celgene (NASDAQ:CELG)

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