Exxonmobil Investment Management Inc. TX trimmed its holdings in shares of Celgene Co. (NASDAQ:CELG) by 12.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 125,187 shares of the biopharmaceutical company’s stock after selling 17,681 shares during the period. Exxonmobil Investment Management Inc. TX’s holdings in Celgene were worth $13,065,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of the stock. Arcadia Investment Management Corp MI boosted its position in Celgene by 118.7% in the third quarter. Arcadia Investment Management Corp MI now owns 737 shares of the biopharmaceutical company’s stock valued at $107,000 after buying an additional 400 shares in the last quarter. Thompson Davis & CO. Inc. lifted its holdings in shares of Celgene by 5.9% during the second quarter. Thompson Davis & CO. Inc. now owns 773 shares of the biopharmaceutical company’s stock worth $100,000 after purchasing an additional 43 shares during the period. Robecosam AG acquired a new position in shares of Celgene during the third quarter worth $114,000. Capital Bank & Trust Co lifted its holdings in shares of Celgene by 166.8% during the third quarter. Capital Bank & Trust Co now owns 827 shares of the biopharmaceutical company’s stock worth $121,000 after purchasing an additional 517 shares during the period. Finally, Guidant Wealth Advisors acquired a new position in shares of Celgene during the third quarter worth $119,000. Institutional investors and hedge funds own 78.10% of the company’s stock.
CELG has been the subject of several recent research reports. Cann reissued a “buy” rating and set a $163.00 target price on shares of Celgene in a research report on Thursday. Barclays upgraded shares of Celgene from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $91.51 to $105.00 in a research note on Tuesday. Mizuho reiterated a “buy” rating and issued a $128.00 target price on shares of Celgene in a research note on Sunday, February 4th. Zacks Investment Research upgraded shares of Celgene from a “sell” rating to a “hold” rating in a research note on Wednesday, January 31st. Finally, Cantor Fitzgerald restated a “hold” rating and set a $112.00 price target on shares of Celgene in a research note on Monday, January 29th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the stock. Celgene has a consensus rating of “Buy” and a consensus target price of $130.25.
In other Celgene news, insider Mark J. Alles acquired 3,260 shares of the stock in a transaction that occurred on Thursday, February 8th. The stock was bought at an average cost of $91.90 per share, with a total value of $299,594.00. Following the completion of the purchase, the insider now directly owns 178,904 shares in the company, valued at $16,441,277.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.95% of the stock is currently owned by insiders.
Celgene Co. (CELG) traded down $0.88 during trading on Friday, hitting $95.26. 5,753,813 shares of the stock traded hands, compared to its average volume of 8,580,000. The company has a market capitalization of $71,000.00, a PE ratio of 18.14, a P/E/G ratio of 0.68 and a beta of 1.49. The company has a debt-to-equity ratio of 2.29, a quick ratio of 4.80 and a current ratio of 4.99. Celgene Co. has a 52-week low of $88.32 and a 52-week high of $147.17.
Celgene (NASDAQ:CELG) last posted its quarterly earnings data on Thursday, January 25th. The biopharmaceutical company reported $1.87 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.78 by $0.09. Celgene had a net margin of 22.38% and a return on equity of 67.50%. The business had revenue of $3.48 billion for the quarter, compared to analysts’ expectations of $3.46 billion. During the same quarter in the previous year, the business posted $1.61 earnings per share. The business’s revenue was up 16.9% compared to the same quarter last year. sell-side analysts expect that Celgene Co. will post 7.68 earnings per share for the current fiscal year.
Celgene announced that its board has authorized a share buyback program on Wednesday, February 14th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the biopharmaceutical company to repurchase shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.
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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.
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