Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its holdings in Celgene Co. (NASDAQ:CELG) by 7.3% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,130,042 shares of the biopharmaceutical company’s stock after purchasing an additional 77,016 shares during the period. Celgene comprises 2.2% of Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings, making the stock its 16th biggest position. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA owned 0.14% of Celgene worth $117,931,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. 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. 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. Guidant Wealth Advisors purchased a new stake in Celgene during the third quarter valued at approximately $119,000. Finally, Balentine LLC lifted its position in Celgene by 83.5% during the second quarter. Balentine LLC now owns 1,057 shares of the biopharmaceutical company’s stock valued at $137,000 after acquiring an additional 481 shares during the last quarter. 78.60% of the stock is owned by hedge funds and other institutional investors.
CELG has been the subject of a number of analyst reports. Atlantic Securities raised shares of Celgene from a “neutral” rating to an “overweight” rating in a research report on Friday, December 8th. Cantor Fitzgerald set a $112.00 price target on shares of Celgene and gave the company a “hold” rating in a research note on Monday, December 11th. Piper Jaffray Companies restated a “hold” rating on shares of Celgene in a research note on Sunday, December 10th. BidaskClub upgraded shares of Celgene from a “sell” rating to a “hold” rating in a research note on Tuesday, December 12th. Finally, Deutsche Bank started coverage on shares of Celgene in a research note on Tuesday, December 12th. They set a “hold” rating and a $114.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $127.78.
Shares of CELG stock opened at $84.98 on Friday. The firm has a market cap of $65,371.59, a price-to-earnings ratio of 23.74, a PEG ratio of 0.61 and a beta of 1.58. Celgene Co. has a 52 week low of $84.95 and a 52 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 released its quarterly earnings data on Thursday, January 25th. The biopharmaceutical company reported $1.87 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.78 by $0.09. The firm had revenue of $3.48 billion for the quarter, compared to analyst estimates of $3.46 billion. Celgene had a net margin of 22.38% and a return on equity of 67.50%. The business’s quarterly revenue was up 16.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.61 earnings per share. research analysts forecast that Celgene Co. will post 7.66 EPS for the current fiscal year.
Celgene announced that its board has approved a stock buyback plan on Wednesday, February 14th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the biopharmaceutical company to buy shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.
In other news, insider Mark J. Alles purchased 3,260 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The shares were bought at an average price of $91.90 per share, for a total transaction of $299,594.00. Following the completion of the transaction, the insider now owns 178,904 shares in the company, valued at $16,441,277.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James J. Loughlin sold 9,250 shares of the firm’s stock in a transaction on Monday, March 12th. The shares were sold at an average price of $92.01, for a total transaction of $851,092.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 41,120 shares of company stock worth $3,879,509. 0.95% of the stock is owned by company insiders.
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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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