Douglas Lane & Associates LLC increased its holdings in Celgene Co. (NASDAQ:CELG) by 28.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 495,454 shares of the biopharmaceutical company’s stock after buying an additional 109,564 shares during the period. Douglas Lane & Associates LLC owned 0.06% of Celgene worth $51,706,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Capital Counsel LLC NY boosted its holdings in Celgene by 0.4% in the 2nd quarter. Capital Counsel LLC NY now owns 1,649 shares of the biopharmaceutical company’s stock worth $214,000 after buying an additional 6 shares during the period. Fort Pitt Capital Group LLC boosted its holdings in Celgene by 0.6% in the 2nd quarter. Fort Pitt Capital Group LLC now owns 1,925 shares of the biopharmaceutical company’s stock worth $250,000 after buying an additional 11 shares during the period. TCI Wealth Advisors Inc. boosted its holdings in Celgene by 0.9% in the 2nd quarter. TCI Wealth Advisors Inc. now owns 3,043 shares of the biopharmaceutical company’s stock worth $395,000 after buying an additional 26 shares during the period. Linscomb & Williams Inc. boosted its holdings in Celgene by 1.0% in the 2nd quarter. Linscomb & Williams Inc. now owns 3,813 shares of the biopharmaceutical company’s stock worth $495,000 after buying an additional 36 shares during the period. Finally, Courier Capital LLC boosted its holdings in Celgene by 1.9% in the 2nd quarter. Courier Capital LLC now owns 1,987 shares of the biopharmaceutical company’s stock worth $258,000 after buying an additional 38 shares during the period. 77.84% of the stock is owned by institutional investors.
Several research analysts recently commented on the stock. Vetr raised shares of Celgene from a “buy” rating to a “strong-buy” rating and set a $116.84 price objective for the company in a report on Thursday, January 25th. Mizuho set a $128.00 target price on shares of Celgene and gave the stock a “buy” rating in a research note on Tuesday, December 26th. BTIG Research reiterated a “hold” rating on shares of Celgene in a research note on Tuesday, January 23rd. BidaskClub upgraded shares of Celgene from a “sell” rating to a “hold” rating in a research note on Tuesday, December 12th. Finally, Citigroup reiterated a “hold” rating on shares of Celgene in a research note on Friday, December 22nd. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $130.25.
In related news, Director Gilla Kaplan sold 9,250 shares of Celgene stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $95.99, for a total value of $887,907.50. Following the transaction, the director now owns 94,801 shares in the company, valued at approximately $9,099,947.99. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Mark J. Alles bought 3,260 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The stock was acquired at an average price 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 $16,441,277.60. The disclosure for this purchase can be found here. 0.95% of the stock is owned by company insiders.
Celgene Co. (CELG) opened at $95.61 on Friday. The company has a market cap of $73,320.00, a price-to-earnings ratio of 18.21, a P/E/G ratio of 0.66 and a beta of 1.49. Celgene Co. has a 52-week low of $88.32 and a 52-week high of $147.17. 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 (NASDAQ:CELG) last issued its earnings results on Thursday, January 25th. The biopharmaceutical company reported $1.87 EPS for the quarter, topping analysts’ consensus estimates of $1.78 by $0.09. The company had revenue of $3.48 billion for the quarter, compared to analysts’ expectations of $3.46 billion. Celgene had a net margin of 22.38% and a return on equity of 67.50%. The firm’s revenue was up 16.9% compared to the same quarter last year. During the same quarter last year, the company earned $1.61 EPS. analysts forecast that Celgene Co. will post 7.68 earnings per share for the current year.
Celgene declared that its Board of Directors has approved a share repurchase program on Wednesday, February 14th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the biopharmaceutical company to reacquire shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership 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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