Livforsakringsbolaget Skandia Omsesidigt cut its holdings in shares of Celgene Co. (NASDAQ:CELG) by 1.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 57,910 shares of the biopharmaceutical company’s stock after selling 600 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Celgene were worth $6,043,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in CELG. Arcadia Investment Management Corp MI lifted its position in Celgene by 118.7% during the third quarter. Arcadia Investment Management Corp MI now owns 737 shares of the biopharmaceutical company’s stock valued at $107,000 after acquiring an additional 400 shares during the last quarter. Thompson Davis & CO. Inc. lifted its position in Celgene by 5.9% during the second quarter. Thompson Davis & CO. Inc. now owns 773 shares of the biopharmaceutical company’s stock valued at $100,000 after acquiring an additional 43 shares during the last quarter. Robecosam AG purchased a new stake in Celgene during the third quarter valued at approximately $114,000. Capital Bank & Trust Co lifted its position in Celgene by 166.8% during the third quarter. Capital Bank & Trust Co now owns 827 shares of the biopharmaceutical company’s stock valued at $121,000 after acquiring an additional 517 shares during the last quarter. Finally, Guidant Wealth Advisors purchased a new stake in Celgene during the third quarter valued at approximately $119,000. Hedge funds and other institutional investors own 78.10% of the company’s stock.
Celgene Co. (NASDAQ:CELG) opened at $95.26 on Friday. The stock has a market cap of $72,314.16, a price-to-earnings ratio of 26.61, a price-to-earnings-growth ratio of 0.68 and a beta of 1.49. Celgene Co. has a fifty-two week low of $88.32 and a fifty-two week high of $147.17. The company has a quick ratio of 4.80, a current ratio of 4.99 and a debt-to-equity ratio of 2.29.
Celgene (NASDAQ:CELG) last posted its quarterly earnings results on Thursday, January 25th. The biopharmaceutical company reported $1.87 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $3.46 billion. During the same quarter last year, the company posted $1.61 earnings per share. The business’s quarterly revenue was up 16.9% on a year-over-year basis. sell-side analysts expect that Celgene Co. will post 7.68 EPS for the current year.
Celgene declared that its Board of Directors has initiated a stock buyback program on Wednesday, February 14th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the biopharmaceutical company to reacquire shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.
In other Celgene news, insider Mark J. Alles bought 3,260 shares of Celgene stock in a transaction that occurred on Thursday, February 8th. The stock was purchased at an average price of $91.90 per share, with a total value of $299,594.00. Following the completion of the acquisition, the insider now directly owns 178,904 shares in the company, valued at approximately $16,441,277.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.95% of the company’s stock.
CELG has been the subject of a number of analyst reports. Sanford C. Bernstein cut shares of Celgene from an “outperform” rating to a “market perform” rating and set a $121.00 target price for the company. in a research report on Wednesday, December 27th. BTIG Research reissued a “hold” rating on shares of Celgene in a research report on Sunday, October 22nd. Cantor Fitzgerald reissued a “hold” rating and set a $112.00 target price on shares of Celgene in a research report on Monday, October 30th. Vetr raised shares of Celgene from a “buy” rating to a “strong-buy” rating and set a $144.39 target price for the company in a research report on Monday, October 23rd. Finally, Oppenheimer set a $166.00 target price on shares of Celgene and gave the company a “buy” rating in a research report on Thursday, November 16th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $130.25.
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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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