Nicollet Investment Management Inc. purchased a new position in Celgene Co. (NASDAQ:CELG) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 16,793 shares of the biopharmaceutical company’s stock, valued at approximately $1,753,000. Celgene comprises about 1.4% of Nicollet Investment Management Inc.’s portfolio, making the stock its 25th biggest holding.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. raised its holdings in shares of Celgene by 5.7% in the second quarter. BlackRock Inc. now owns 56,725,342 shares of the biopharmaceutical company’s stock worth $7,366,919,000 after acquiring an additional 3,084,227 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Celgene by 3.1% in the second quarter. Vanguard Group Inc. now owns 53,527,210 shares of the biopharmaceutical company’s stock worth $6,951,579,000 after acquiring an additional 1,610,056 shares during the last quarter. Jennison Associates LLC raised its holdings in shares of Celgene by 11.5% in the third quarter. Jennison Associates LLC now owns 14,962,407 shares of the biopharmaceutical company’s stock worth $2,181,818,000 after acquiring an additional 1,546,673 shares during the last quarter. FMR LLC raised its holdings in shares of Celgene by 5.9% in the second quarter. FMR LLC now owns 12,594,467 shares of the biopharmaceutical company’s stock worth $1,635,643,000 after acquiring an additional 697,250 shares during the last quarter. Finally, Edgewood Management LLC raised its holdings in shares of Celgene by 0.9% in the third quarter. Edgewood Management LLC now owns 10,556,896 shares of the biopharmaceutical company’s stock worth $1,539,407,000 after acquiring an additional 98,943 shares during the last quarter. 78.67% of the stock is owned by institutional investors.
In related news, insider Mark J. Alles bought 3,260 shares of the firm’s stock in a transaction dated Thursday, February 8th. The stock was bought at an average price of $91.90 per share, with a total value of $299,594.00. Following the completion of the transaction, the insider now directly owns 178,904 shares of the company’s stock, valued at $16,441,277.60. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Gilla Kaplan sold 9,250 shares of the company’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $94.83, for a total value of $877,177.50. Following the completion of the sale, the director now directly owns 94,801 shares of the company’s stock, valued at approximately $8,989,978.83. The disclosure for this sale can be found here. Insiders sold 41,120 shares of company stock valued at $3,879,509 in the last ninety days. Company insiders own 0.95% of the company’s stock.
Shares of Celgene Co. (NASDAQ:CELG) opened at $89.91 on Friday. Celgene Co. has a 1 year low of $86.55 and a 1 year 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. The firm has a market capitalization of $68,906.80, a PE ratio of 25.11, a PEG ratio of 0.65 and a beta of 1.58.
Celgene (NASDAQ:CELG) last issued its earnings results on Thursday, January 25th. The biopharmaceutical company reported $1.87 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.78 by $0.09. Celgene had a return on equity of 67.50% and a net margin of 22.38%. The company 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 business earned $1.61 earnings per share. The company’s revenue was up 16.9% compared to the same quarter last year. research analysts expect that Celgene Co. will post 7.66 EPS for the current fiscal year.
Celgene announced that its Board of Directors has authorized a stock buyback program on Wednesday, February 14th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the biopharmaceutical company to buy shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.
Several equities analysts recently commented on CELG shares. Vetr lowered Celgene from a “strong-buy” rating to a “buy” rating and set a $121.72 target price for the company. in a research note on Monday, December 18th. Deutsche Bank started coverage on Celgene in a research note on Tuesday, December 12th. They issued a “hold” rating and a $114.00 target price for the company. Credit Suisse Group set a $128.00 target price on Celgene and gave the company a “buy” rating in a research note on Tuesday, December 12th. Piper Jaffray Companies reiterated a “hold” rating on shares of Celgene in a research note on Sunday, December 10th. Finally, Oppenheimer set a $166.00 target price on Celgene and gave the company a “buy” rating in a research note on Thursday, December 14th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $128.22.
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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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