Lombard Odier Asset Management Switzerland SA lowered its stake in shares of Celgene Co. (NASDAQ:CELG) by 48.6% in the 4th quarter, Holdings Channel reports. The firm owned 52,949 shares of the biopharmaceutical company’s stock after selling 50,000 shares during the quarter. Lombard Odier Asset Management Switzerland SA’s holdings in Celgene were worth $5,526,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently modified their holdings of CELG. Arcadia Investment Management Corp MI increased its stake in shares of Celgene by 118.7% during the 3rd quarter. Arcadia Investment Management Corp MI now owns 737 shares of the biopharmaceutical company’s stock worth $107,000 after purchasing an additional 400 shares during the last quarter. Robecosam AG purchased a new stake in shares of Celgene during the 3rd quarter worth approximately $114,000. Guidant Wealth Advisors bought a new position in Celgene in the 3rd quarter worth approximately $119,000. American Beacon Advisors Inc. bought a new position in Celgene in the 4th quarter worth approximately $120,000. Finally, Capital Bank & Trust Co boosted 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 worth $121,000 after buying an additional 517 shares during the period. Institutional investors own 78.63% of the company’s stock.
In related news, insider Mark J. Alles acquired 3,260 shares of the company’s stock in a transaction dated Thursday, February 8th. The stock was bought at an average cost of $91.90 per share, with a total value of $299,594.00. Following the acquisition, 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 can be accessed through the SEC website. Also, Director James J. Loughlin sold 9,250 shares of Celgene stock in a transaction on Monday, March 12th. The stock was 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. Over the last three months, insiders sold 41,120 shares of company stock valued at $3,879,509. Insiders own 0.95% of the company’s stock.
Shares of NASDAQ:CELG opened at $86.95 on Friday. 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 Co. has a one year low of $84.25 and a one year high of $147.17. The firm has a market capitalization of $68,049.33, a price-to-earnings ratio of 12.71, a PEG ratio of 0.61 and a beta of 1.49.
Celgene (NASDAQ:CELG) last announced its quarterly earnings results on Thursday, January 25th. The biopharmaceutical company reported $1.87 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.78 by $0.09. Celgene had a net margin of 22.38% and a return on equity of 67.50%. The firm had revenue of $3.48 billion during the quarter, compared to the consensus estimate of $3.46 billion. During the same period last year, the firm earned $1.61 EPS. The business’s quarterly revenue was up 16.9% compared to the same quarter last year. equities analysts expect that Celgene Co. will post 7.66 earnings per share for the current fiscal year.
Celgene announced that its board has initiated a share repurchase program on Wednesday, February 14th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the biopharmaceutical company to purchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.
CELG has been the subject of several analyst reports. Credit Suisse Group set a $128.00 price objective on shares of Celgene and gave the stock a “buy” rating in a report on Tuesday, December 12th. Vetr downgraded shares of Celgene from a “strong-buy” rating to a “buy” rating and set a $121.72 price objective for the company. in a report on Tuesday, December 12th. Oppenheimer set a $166.00 price objective on shares of Celgene and gave the stock a “buy” rating in a report on Thursday, December 14th. Leerink Swann reaffirmed a “buy” rating and issued a $120.00 price objective on shares of Celgene in a report on Wednesday, December 13th. Finally, Stifel Nicolaus cut their price objective on shares of Celgene from $149.00 to $130.00 and set a “buy” rating for the company in a 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 company. The company has an average rating of “Buy” and an average price target of $127.68.
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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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