Neville Rodie & Shaw Inc. bought a new position in shares of Celgene Co. (NASDAQ:CELG) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 115,580 shares of the biopharmaceutical company’s stock, valued at approximately $9,179,000.
Several other hedge funds and other institutional investors have also modified their holdings of CELG. Weatherstone Capital Management raised its holdings in shares of Celgene by 16.3% during the 4th quarter. Weatherstone Capital Management now owns 3,899 shares of the biopharmaceutical company’s stock worth $407,000 after buying an additional 547 shares in the last quarter. Dempze Nancy E increased its holdings in Celgene by 22.9% in the 4th quarter. Dempze Nancy E now owns 2,950 shares of the biopharmaceutical company’s stock worth $308,000 after purchasing an additional 550 shares in the last quarter. Valeo Financial Advisors LLC increased its holdings in Celgene by 31.7% in the 4th quarter. Valeo Financial Advisors LLC now owns 2,291 shares of the biopharmaceutical company’s stock worth $239,000 after purchasing an additional 552 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. increased its holdings in Celgene by 22.9% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 3,000 shares of the biopharmaceutical company’s stock worth $313,000 after purchasing an additional 558 shares in the last quarter. Finally, Telemus Capital LLC increased its holdings in Celgene by 2.2% in the 4th quarter. Telemus Capital LLC now owns 26,123 shares of the biopharmaceutical company’s stock worth $2,727,000 after purchasing an additional 574 shares in the last quarter. Institutional investors own 75.46% of the company’s stock.
A number of brokerages have issued reports on CELG. Standpoint Research raised Celgene from a “hold” rating to a “buy” rating in a report on Monday, June 18th. Zacks Investment Research raised Celgene from a “hold” rating to a “buy” rating and set a $98.00 target price for the company in a report on Tuesday, May 1st. ValuEngine cut Celgene from a “hold” rating to a “sell” rating in a report on Thursday, April 12th. BidaskClub upgraded Celgene from a “strong sell” rating to a “sell” rating in a research report on Friday, May 25th. Finally, Sanford C. Bernstein upgraded Celgene from a “market perform” rating to an “outperform” rating and set a $102.00 price target on the stock in a research report on Wednesday, May 23rd. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company. Celgene currently has an average rating of “Buy” and a consensus price target of $122.72.
Shares of Celgene traded down $0.70, hitting $78.81, on Tuesday, MarketBeat Ratings reports. 325,559 shares of the company’s stock traded hands, compared to its average volume of 6,533,973. Celgene Co. has a one year low of $74.13 and a one year high of $147.17. The company has a debt-to-equity ratio of 3.92, a current ratio of 2.53 and a quick ratio of 2.36. The firm has a market cap of $57.57 billion, a price-to-earnings ratio of 11.60, a PEG ratio of 0.50 and a beta of 1.43.
Celgene (NASDAQ:CELG) last announced its earnings results on Friday, May 4th. The biopharmaceutical company reported $2.05 EPS for the quarter, beating the consensus estimate of $1.96 by $0.09. Celgene had a return on equity of 72.92% and a net margin of 20.73%. The company had revenue of $3.54 billion for the quarter, compared to analyst estimates of $3.47 billion. During the same quarter in the prior year, the company earned $1.68 EPS. The firm’s revenue for the quarter was up 19.4% compared to the same quarter last year. sell-side analysts expect that Celgene Co. will post 7.63 EPS for the current fiscal year.
Celgene declared that its Board of Directors has initiated a stock repurchase program on Thursday, May 24th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the biopharmaceutical company to buy up to 5.4% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its shares are undervalued.
In other news, CEO Mark J. Alles purchased 1,208 shares of the business’s stock in a transaction on Wednesday, May 9th. The shares were acquired at an average price of $82.60 per share, for a total transaction of $99,780.80. Following the completion of the acquisition, the chief executive officer now owns 187,316 shares in the company, valued at $15,472,301.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Gilla Kaplan sold 27,750 shares of the stock in a transaction that occurred on Friday, May 18th. The stock was sold at an average price of $78.66, for a total value of $2,182,815.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 58,500 shares of company stock worth $4,608,365. 0.39% of the stock is owned by corporate insiders.
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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