ING Groep NV boosted its holdings in shares of Celgene Co. (NASDAQ:CELG) by 5,008.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 153,415 shares of the biopharmaceutical company’s stock after buying an additional 150,412 shares during the quarter. ING Groep NV’s holdings in Celgene were worth $16,010,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. BlackRock Inc. raised its stake in Celgene by 5.7% during the second quarter. BlackRock Inc. now owns 56,725,342 shares of the biopharmaceutical company’s stock valued at $7,366,919,000 after purchasing an additional 3,084,227 shares in the last quarter. Vanguard Group Inc. raised its stake in Celgene by 3.1% during the second quarter. Vanguard Group Inc. now owns 53,527,210 shares of the biopharmaceutical company’s stock valued at $6,951,579,000 after purchasing an additional 1,610,056 shares in the last quarter. Jennison Associates LLC raised its stake 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 valued at $2,181,818,000 after acquiring an additional 1,546,673 shares during the period. FMR LLC raised its stake 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 valued at $1,635,643,000 after acquiring an additional 697,250 shares during the period. Finally, Edgewood Management LLC raised its stake 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 valued at $1,539,407,000 after acquiring an additional 98,943 shares during the period. Institutional investors own 78.63% of the company’s stock.
Shares of CELG opened at $86.95 on Friday. The company has a debt-to-equity ratio of 2.29, a quick ratio of 4.80 and a current ratio of 4.99. The firm has a market cap of $66,823.28, a price-to-earnings ratio of 12.71, a price-to-earnings-growth ratio of 0.59 and a beta of 1.49. Celgene Co. has a 52-week low of $84.25 and a 52-week high of $147.17.
Celgene (NASDAQ:CELG) last announced its quarterly earnings results on Thursday, January 25th. The biopharmaceutical company reported $1.87 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.09. The firm 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 company’s revenue was up 16.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.61 EPS. analysts forecast that Celgene Co. will post 7.66 earnings per share for the current fiscal year.
Celgene announced that its Board of Directors has initiated a share buyback program on Wednesday, February 14th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the biopharmaceutical company to repurchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.
Several brokerages have recently weighed in on CELG. Vetr downgraded shares of Celgene from a “strong-buy” rating to a “buy” rating and set a $121.72 target price on the stock. in a research note on Monday, December 18th. Deutsche Bank initiated coverage on shares of Celgene in a research note on Tuesday, December 12th. They issued a “hold” rating and a $114.00 price target on the stock. Credit Suisse Group set a $128.00 price target on shares of Celgene and gave the stock a “buy” rating in a research note on Tuesday, December 12th. Piper Jaffray reaffirmed a “hold” rating on shares of Celgene in a research note on Sunday, December 10th. Finally, Oppenheimer set a $166.00 target price on shares of Celgene and gave the stock a “buy” rating in a report on Thursday, December 14th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $127.68.
In other Celgene news, Director Gilla Kaplan sold 9,250 shares of the business’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $95.99, for a total transaction of $887,907.50. Following the sale, the director now directly owns 94,801 shares in the company, valued at $9,099,947.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mark J. Alles purchased 3,260 shares of the business’s stock in a transaction on Thursday, February 8th. The shares were acquired at an average price of $91.90 per share, for a total transaction of $299,594.00. Following the completion of the purchase, the insider now directly owns 178,904 shares of the company’s stock, 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. 0.95% of the stock is owned by 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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