Glenview Trust Co grew its position in Celgene Co. (NASDAQ:CELG) by 26.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 93,385 shares of the biopharmaceutical company’s stock after buying an additional 19,669 shares during the quarter. Glenview Trust Co’s holdings in Celgene were worth $9,746,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. California Public Employees Retirement System raised its position in shares of Celgene by 7.3% in the 4th quarter. California Public Employees Retirement System now owns 2,044,969 shares of the biopharmaceutical company’s stock worth $213,413,000 after acquiring an additional 139,821 shares in the last quarter. Boston Family Office LLC raised its position in shares of Celgene by 0.6% in the 4th quarter. Boston Family Office LLC now owns 136,085 shares of the biopharmaceutical company’s stock worth $14,202,000 after acquiring an additional 847 shares in the last quarter. Icon Advisers Inc. Co. raised its position in shares of Celgene by 27.1% in the 4th quarter. Icon Advisers Inc. Co. now owns 168,114 shares of the biopharmaceutical company’s stock worth $17,544,000 after acquiring an additional 35,854 shares in the last quarter. Nicollet Investment Management Inc. bought a new position in shares of Celgene in the 4th quarter worth $1,753,000. Finally, Crescent Grove Advisors LLC bought a new position in shares of Celgene in the 4th quarter worth $334,000. Institutional investors and hedge funds own 78.63% of the company’s stock.
In other news, Director Gilla Kaplan sold 9,250 shares of the company’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $95.99, for a total value of $887,907.50. Following the sale, the director now owns 94,801 shares in the company, valued at $9,099,947.99. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ernest Mario sold 13,370 shares of the company’s stock in a transaction dated 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 worth $3,879,509 over the last three months. Corporate insiders own 0.95% of the company’s stock.
Shares of CELG stock traded down $1.89 during mid-day trading on Friday, reaching $86.95. The stock had a trading volume of 6,683,406 shares, compared to its average volume of 7,531,407. 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 capitalization of $65,401.70, a PE ratio of 12.71, a P/E/G ratio of 0.58 and a beta of 1.49. Celgene Co. has a 1-year low of $84.25 and a 1-year high of $147.17.
Celgene (NASDAQ:CELG) last announced its quarterly earnings data on Thursday, January 25th. The biopharmaceutical company reported $1.87 earnings per share for the quarter, beating analysts’ consensus estimates of $1.78 by $0.09. The business had revenue of $3.48 billion for the quarter, compared to analyst estimates of $3.46 billion. Celgene had a return on equity of 67.50% and a net margin of 22.38%. The company’s revenue was up 16.9% on a year-over-year basis. During the same period in the prior year, the company earned $1.61 earnings per share. sell-side analysts forecast that Celgene Co. will post 7.66 earnings per share for the current year.
Celgene announced that its Board of Directors has approved a share repurchase program on Wednesday, February 14th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the biopharmaceutical company to buy shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s leadership believes its shares are undervalued.
Several research firms have recently commented on CELG. Vetr lowered Celgene from a “strong-buy” rating to a “buy” rating and set a $121.72 price target for the company. in a research report on Monday, December 18th. Credit Suisse Group set a $128.00 price target on Celgene and gave the stock a “buy” rating in a research report on Tuesday, December 12th. Deutsche Bank began coverage on Celgene in a research report on Tuesday, December 12th. They issued a “hold” rating and a $114.00 price target for the company. Piper Jaffray reissued a “hold” rating on shares of Celgene in a research report on Sunday, December 10th. Finally, Oppenheimer set a $166.00 price target on Celgene and gave the stock a “buy” rating in a research report on Thursday, December 14th. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company. Celgene has a consensus 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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