Main Street Research LLC lowered its stake in Celgene Co. (NASDAQ:CELG) by 16.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 11,293 shares of the biopharmaceutical company’s stock after selling 2,185 shares during the quarter. Main Street Research LLC’s holdings in Celgene were worth $1,179,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently made changes to their positions in the business. Beach Investment Management LLC. grew its position in shares of Celgene by 1,935.3% during the second quarter. Beach Investment Management LLC. now owns 126,188 shares of the biopharmaceutical company’s stock worth $16,388,000 after buying an additional 119,988 shares in the last quarter. CIBC World Markets Inc. lifted its stake in Celgene by 93.3% during the second quarter. CIBC World Markets Inc. now owns 204,143 shares of the biopharmaceutical company’s stock worth $26,512,000 after purchasing an additional 98,517 shares during the last quarter. Eaton Vance Management lifted its stake in Celgene by 10.4% during the second quarter. Eaton Vance Management now owns 3,448,409 shares of the biopharmaceutical company’s stock worth $447,845,000 after purchasing an additional 323,608 shares during the last quarter. Franklin Resources Inc. lifted its stake in Celgene by 3.3% during the second quarter. Franklin Resources Inc. now owns 11,080,093 shares of the biopharmaceutical company’s stock worth $1,439,025,000 after purchasing an additional 349,974 shares during the last quarter. Finally, South Dakota Investment Council lifted its stake in Celgene by 1.9% during the second quarter. South Dakota Investment Council now owns 229,530 shares of the biopharmaceutical company’s stock worth $29,809,000 after purchasing an additional 4,330 shares during the last quarter. Institutional investors own 78.60% of the company’s stock.
In other Celgene news, Director James J. Loughlin sold 9,250 shares of the firm’s stock in a transaction that occurred on Monday, March 12th. The stock was sold at an average price of $92.01, for a total transaction of $851,092.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mark J. Alles acquired 3,260 shares of the stock in a transaction on Thursday, February 8th. The shares were acquired at an average price of $91.90 per share, with a total value of $299,594.00. Following the purchase, 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. Over the last 90 days, insiders sold 41,120 shares of company stock worth $3,879,509. Company insiders own 0.95% of the company’s stock.
Celgene Co. (NASDAQ:CELG) traded up $0.26 during trading on Tuesday, hitting $88.79. The stock had a trading volume of 5,980,631 shares, compared to its average volume of 8,134,322. The stock has a market cap of $67,402.45, a P/E ratio of 24.80, a price-to-earnings-growth ratio of 0.63 and a beta of 1.58. The company has a current ratio of 4.99, a quick ratio of 4.80 and a debt-to-equity ratio of 2.29. Celgene Co. has a 52 week low of $86.55 and a 52 week high of $147.17.
Celgene (NASDAQ:CELG) last released its quarterly earnings data 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 the consensus estimate of $3.46 billion. Celgene had a return on equity of 67.50% and a net margin of 22.38%. The company’s quarterly revenue was up 16.9% compared to the same quarter last year. During the same period last year, the business posted $1.61 EPS. 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 share repurchase plan 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. Stock buyback plans are often an indication that the company’s leadership believes its shares are undervalued.
Several research firms recently weighed in on CELG. Cantor Fitzgerald set a $112.00 target price on Celgene and gave the stock a “hold” rating in a research note on Tuesday, January 23rd. Deutsche Bank started coverage on Celgene in a research note on Tuesday, December 12th. They issued a “hold” rating and a $114.00 price objective for the company. Robert W. Baird reiterated a “hold” rating and issued a $92.00 price objective on shares of Celgene in a research note on Thursday, March 1st. SunTrust Banks set a $127.00 price objective on Celgene and gave the company a “buy” rating in a research note on Monday, January 8th. Finally, Zacks Investment Research upgraded Celgene from a “sell” rating to a “hold” rating in a research note on Wednesday, January 31st. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $128.22.
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Celgene Company Profile
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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