Bridgecreek Investment Management LLC Lowers Holdings in Celgene Co. (NASDAQ:CELG)

Bridgecreek Investment Management LLC lessened its position in Celgene Co. (NASDAQ:CELG) by 21.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 39,000 shares of the biopharmaceutical company’s stock after selling 10,725 shares during the quarter. Bridgecreek Investment Management LLC’s holdings in Celgene were worth $4,070,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in the stock. Arcadia Investment Management Corp MI boosted its stake in Celgene by 118.7% in the 3rd quarter. Arcadia Investment Management Corp MI now owns 737 shares of the biopharmaceutical company’s stock valued at $107,000 after purchasing an additional 400 shares during the period. Robecosam AG acquired a new position in Celgene in the 3rd quarter valued at $114,000. Guidant Wealth Advisors acquired a new position in Celgene in the 3rd quarter valued at $119,000. Capital Bank & Trust Co raised its holdings in Celgene by 166.8% in the 3rd 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 in the last quarter. Finally, Fusion Family Wealth LLC acquired a new position in Celgene in the 4th quarter valued at $136,000. 78.63% of the stock is currently owned by institutional investors and hedge funds.

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In other Celgene news, insider Mark J. Alles acquired 3,260 shares of the 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 of the company’s stock, valued at approximately $16,441,277.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director James J. Loughlin sold 9,250 shares of the firm’s stock in a transaction dated Monday, March 12th. The shares were sold at an average price of $92.01, for a total value of $851,092.50. The disclosure for this sale can be found here. Insiders sold 41,120 shares of company stock worth $3,879,509 in the last quarter. 0.95% of the stock is currently owned by company insiders.

Shares of Celgene stock traded down $1.89 during trading hours on Friday, reaching $86.95. The company had a trading volume of 6,683,406 shares, compared to its average volume of 7,531,407. Celgene Co. has a one year low of $84.25 and a one year 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. The firm has a market capitalization of $66,823.28, a P/E ratio of 12.71, a PEG ratio of 0.59 and a beta of 1.49.

Celgene (NASDAQ:CELG) last issued its quarterly earnings data 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 return on equity of 67.50% and a net margin of 22.38%. The company had revenue of $3.48 billion for the quarter, compared to the consensus estimate of $3.46 billion. During the same quarter last year, the business posted $1.61 earnings per share. The firm’s revenue was up 16.9% compared to the same quarter last year. sell-side analysts expect that Celgene Co. will post 7.66 earnings per share for the current fiscal year.

Celgene announced that its board has authorized a share 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 reacquire shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

A number of equities analysts have recently commented on CELG shares. Vetr raised Celgene from a “buy” rating to a “strong-buy” rating and set a $116.84 price target for the company in a report on Thursday, January 25th. Mizuho set a $128.00 price target on Celgene and gave the stock a “buy” rating in a report on Tuesday, December 26th. BTIG Research restated a “hold” rating on shares of Celgene in a research report on Tuesday, January 23rd. BidaskClub upgraded Celgene from a “sell” rating to a “hold” rating in a research report on Tuesday, December 12th. Finally, Citigroup restated a “hold” rating on shares of Celgene in a research report on Friday, December 22nd. Three analysts have rated the stock with a sell rating, twelve have given a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the stock. Celgene has an average rating of “Buy” and an average target price of $127.68.

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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.

Institutional Ownership by Quarter for Celgene (NASDAQ:CELG)

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