Nicollet Investment Management Inc. Takes $1.75 Million Position in Celgene Co. (NASDAQ:CELG)

Nicollet Investment Management Inc. bought a new stake in Celgene Co. (NASDAQ:CELG) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 16,793 shares of the biopharmaceutical company’s stock, valued at approximately $1,753,000. Celgene comprises about 1.4% of Nicollet Investment Management Inc.’s holdings, making the stock its 25th biggest holding.

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 bought a new stake in Celgene in the 3rd quarter valued at $114,000. Guidant Wealth Advisors bought a new stake in Celgene in the 3rd quarter valued at $119,000. Capital Bank & Trust Co boosted its stake 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 purchasing an additional 517 shares during the period. Finally, Fusion Family Wealth LLC bought a new stake 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 related news, Director James J. Loughlin sold 9,250 shares of the stock in a transaction on Monday, March 12th. The stock was sold at an average price of $92.01, for a total value of $851,092.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Ernest Mario sold 13,370 shares of the stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $94.49, for a total value of $1,263,331.30. The disclosure for this sale can be found here. Insiders sold 41,120 shares of company stock valued at $3,879,509 over the last ninety days. Corporate insiders own 0.95% of the company’s stock.

NASDAQ CELG traded down $1.89 on Friday, hitting $86.95. 6,683,406 shares of the stock traded hands, compared to its average volume of 7,531,407. Celgene Co. has a 12 month low of $84.25 and a 12 month high of $147.17. 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. 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 (NASDAQ:CELG) last posted its quarterly earnings results on Thursday, January 25th. The biopharmaceutical company reported $1.87 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 firm had revenue of $3.48 billion during the quarter, compared to analyst estimates of $3.46 billion. During the same period last year, the company earned $1.61 earnings per share. The business’s revenue for the quarter was up 16.9% on a year-over-year basis. analysts forecast that Celgene Co. will post 7.66 EPS for the current 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.

Several brokerages have weighed in on CELG. Atlantic Securities raised Celgene from a “neutral” rating to an “overweight” rating in a report on Friday, December 8th. Cantor Fitzgerald set a $112.00 price objective on Celgene and gave the company a “hold” rating in a report on Monday, December 11th. Piper Jaffray reissued a “hold” rating on shares of Celgene in a report on Sunday, December 10th. BidaskClub raised Celgene from a “sell” rating to a “hold” rating in a report on Tuesday, December 12th. Finally, Deutsche Bank started coverage on Celgene in a report on Tuesday, December 12th. They set a “hold” rating and a $114.00 price target for the company. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target 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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