Moisand Fitzgerald Tamayo LLC reduced its stake in Celgene Co. (NASDAQ:CELG) by 28.5% in the 4th quarter, HoldingsChannel reports. The firm owned 1,538 shares of the biopharmaceutical company’s stock after selling 614 shares during the quarter. Moisand Fitzgerald Tamayo LLC’s holdings in Celgene were worth $161,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in CELG. RiverPoint Capital Management LLC boosted its position in Celgene by 3.1% in the 2nd quarter. RiverPoint Capital Management LLC now owns 121,654 shares of the biopharmaceutical company’s stock valued at $15,799,000 after buying an additional 3,680 shares during the last quarter. LSV Asset Management purchased a new position in Celgene in the 2nd quarter valued at about $1,701,000. Spectrum Management Group Inc. purchased a new position in Celgene in the 2nd quarter valued at about $462,000. Polen Capital Management LLC boosted its position in Celgene by 7.7% in the 2nd quarter. Polen Capital Management LLC now owns 5,082,991 shares of the biopharmaceutical company’s stock valued at $660,128,000 after buying an additional 363,108 shares during the last quarter. Finally, BlackRock Inc. boosted its position in Celgene by 5.7% in the 2nd quarter. BlackRock Inc. now owns 56,725,342 shares of the biopharmaceutical company’s stock valued at $7,366,919,000 after buying an additional 3,084,227 shares during the last quarter. Hedge funds and other institutional investors own 77.84% of the company’s stock.
In other Celgene news, Director Gilla Kaplan sold 9,250 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $94.83, for a total value of $877,177.50. Following the sale, the director now owns 94,801 shares in the company, valued at $8,989,978.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mark J. Alles purchased 3,260 shares of the company’s stock in a transaction on Thursday, February 8th. The stock was purchased at an average price of $91.90 per share, for a total transaction of $299,594.00. Following the purchase, the insider now directly owns 178,904 shares of the company’s stock, valued at approximately $16,441,277.60. The disclosure for this purchase can be found here. Company insiders own 0.95% of the company’s stock.
A number of research firms have weighed in on CELG. Cantor Fitzgerald set a $112.00 price objective on shares of Celgene and gave the company a “hold” rating in a research report on Tuesday, January 23rd. UBS Group cut shares of Celgene from a “strong-buy” rating to a “market perform” rating and set a $160.00 price objective for the company. in a research report on Thursday, October 26th. BMO Capital Markets reduced their price target on shares of Celgene from $163.00 to $148.00 and set an “outperform” rating on the stock in a research report on Friday, October 27th. Barclays reaffirmed an “equal weight” rating and set a $105.00 price target (down previously from $135.00) on shares of Celgene in a research report on Friday, October 27th. Finally, Deutsche Bank started coverage on shares of Celgene in a research report on Tuesday, December 12th. They set a “hold” rating and a $114.00 price target on the stock. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $130.25.
Celgene Co. (CELG) opened at $93.89 on Thursday. 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 Co. has a twelve month low of $88.32 and a twelve month high of $147.17. The stock has a market cap of $70,591.68, a PE ratio of 26.23, a price-to-earnings-growth ratio of 0.66 and a beta of 1.49.
Celgene (NASDAQ:CELG) last issued its 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 firm had revenue of $3.48 billion for the quarter, compared to analysts’ expectations of $3.46 billion. During the same quarter last year, the company posted $1.61 earnings per share. Celgene’s revenue was up 16.9% on a year-over-year basis. equities analysts expect that Celgene Co. will post 7.68 EPS for the current fiscal year.
Celgene announced that its Board of Directors has approved a stock repurchase plan on Wednesday, February 14th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the biopharmaceutical company to reacquire shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management 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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