Hunter Associates Investment Management LLC reduced its stake in shares of Celgene (NASDAQ:CELG) by 1.9% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 26,518 shares of the biopharmaceutical company’s stock after selling 515 shares during the period. Celgene comprises approximately 1.0% of Hunter Associates Investment Management LLC’s portfolio, making the stock its 29th biggest position. Hunter Associates Investment Management LLC’s holdings in Celgene were worth $2,767,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in CELG. Ark Investment Management LLC grew its holdings in shares of Celgene by 78.7% in the second quarter. Ark Investment Management LLC now owns 1,599 shares of the biopharmaceutical company’s stock valued at $208,000 after acquiring an additional 704 shares in the last quarter. Scotia Capital Inc. grew its holdings in shares of Celgene by 21.0% in the second quarter. Scotia Capital Inc. now owns 69,457 shares of the biopharmaceutical company’s stock valued at $9,020,000 after acquiring an additional 12,058 shares in the last quarter. Linscomb & Williams Inc. grew its holdings in shares of Celgene by 1.0% in the second quarter. Linscomb & Williams Inc. now owns 3,813 shares of the biopharmaceutical company’s stock valued at $495,000 after acquiring an additional 36 shares in the last quarter. Chiron Investment Management LLC grew its holdings in shares of Celgene by 38.4% in the second quarter. Chiron Investment Management LLC now owns 131,800 shares of the biopharmaceutical company’s stock valued at $17,117,000 after acquiring an additional 36,600 shares in the last quarter. Finally, Cypress Capital Group grew its holdings in shares of Celgene by 12.6% in the second quarter. Cypress Capital Group now owns 39,742 shares of the biopharmaceutical company’s stock valued at $5,162,000 after acquiring an additional 4,450 shares in the last quarter. 78.53% of the stock is owned by institutional investors.
NASDAQ:CELG opened at $89.62 on Friday. The firm has a market cap of $68,523.20, a price-to-earnings ratio of 13.10, a P/E/G ratio of 0.61 and a beta of 1.49. Celgene has a 1 year low of $84.25 and a 1 year high of $147.17. 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 earnings results on Thursday, January 25th. The biopharmaceutical company reported $1.87 earnings per share (EPS) for the quarter, topping the 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 for the quarter, compared to the consensus estimate of $3.46 billion. During the same quarter in the prior year, the business posted $1.61 earnings per share. The business’s quarterly revenue was up 16.9% on a year-over-year basis. analysts predict that Celgene 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 repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the biopharmaceutical company to buy shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its stock is undervalued.
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, insider Mark J. Alles acquired 3,260 shares of the stock in a transaction that occurred on Thursday, February 8th. The stock was acquired at an average price of $91.90 per share, for a total transaction of $299,594.00. Following the transaction, the insider now directly owns 178,904 shares of the company’s stock, valued at approximately $16,441,277.60. The disclosure for this purchase 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.
Several equities analysts have recently issued reports on the company. Vetr raised Celgene from a “buy” rating to a “strong-buy” rating and set a $116.84 target price for the company in a report on Thursday, January 25th. Mizuho set a $128.00 target price on Celgene and gave the company a “buy” rating in a report on Tuesday, December 26th. BTIG Research reaffirmed a “hold” rating on shares of Celgene in a report on Tuesday, January 23rd. ValuEngine lowered Celgene from a “hold” rating to a “sell” rating in a report on Thursday, April 12th. Finally, Citigroup reissued a “hold” rating on shares of Celgene in a report on Friday, December 22nd. Three research analysts have rated the stock with a sell rating, thirteen have given a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $126.95.
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Celgene Company Profile
Celgene Corporation, a biopharmaceutical company, engages in the discovery, development, and commercialization of therapies for the treatment of cancer and inflammatory diseases worldwide. It offers REVLIMID, an oral immunomodulatory drug for multiple myeloma (MM), myelodysplastic syndromes (MDS), and mantle cell lymphoma; POMALYST/IMNOVID to treat multiple myeloma; OTEZLA, a small-molecule inhibitor of phosphodiesterase 4 for psoriatic arthritis and psoriasis; and ABRAXANE, a solvent-free chemotherapy product to treat breast, non-small cell lung, pancreatic, and gastric cancers.
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