Celgene Co. (CELG) Stake Lifted by Argent Trust Co

Argent Trust Co lifted its holdings in Celgene Co. (NASDAQ:CELG) by 456.9% in the 2nd quarter, HoldingsChannel reports. The firm owned 25,057 shares of the biopharmaceutical company’s stock after purchasing an additional 20,558 shares during the quarter. Argent Trust Co’s holdings in Celgene were worth $1,990,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in CELG. Edgewood Management LLC boosted its stake in Celgene by 16.2% during the second quarter. Edgewood Management LLC now owns 13,924,544 shares of the biopharmaceutical company’s stock valued at $1,105,887,000 after buying an additional 1,943,607 shares in the last quarter. FMR LLC lifted its holdings in shares of Celgene by 14.8% during the second quarter. FMR LLC now owns 8,160,001 shares of the biopharmaceutical company’s stock valued at $648,067,000 after purchasing an additional 1,051,528 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Celgene by 60.6% during the second quarter. Renaissance Technologies LLC now owns 4,129,438 shares of the biopharmaceutical company’s stock valued at $327,960,000 after purchasing an additional 1,558,600 shares during the last quarter. Swedbank lifted its holdings in shares of Celgene by 25.0% during the second quarter. Swedbank now owns 3,881,075 shares of the biopharmaceutical company’s stock valued at $308,235,000 after purchasing an additional 777,099 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of Celgene by 11.3% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,648,481 shares of the biopharmaceutical company’s stock valued at $210,342,000 after purchasing an additional 268,597 shares during the last quarter. 73.11% of the stock is owned by institutional investors.

In other news, Director Ernest Mario sold 12,000 shares of the firm’s stock in a transaction dated Thursday, August 9th. The stock was sold at an average price of $92.32, for a total transaction of $1,107,840.00. Following the completion of the sale, the director now directly owns 44,413 shares of the company’s stock, valued at approximately $4,100,208.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John H. Weiland purchased 5,575 shares of the business’s stock in a transaction dated Tuesday, August 7th. The shares were purchased at an average cost of $89.73 per share, with a total value of $500,244.75. The disclosure for this purchase can be found here. 0.39% of the stock is owned by company insiders.

Shares of Celgene stock opened at $87.20 on Tuesday. The stock has a market capitalization of $61.05 billion, a P/E ratio of 12.75, a price-to-earnings-growth ratio of 0.52 and a beta of 1.32. The company has a debt-to-equity ratio of 5.76, a current ratio of 1.52 and a quick ratio of 1.40. Celgene Co. has a 1 year low of $74.13 and a 1 year high of $147.17.

Celgene (NASDAQ:CELG) last announced its quarterly earnings data on Thursday, July 26th. The biopharmaceutical company reported $2.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.11 by $0.05. Celgene had a return on equity of 87.28% and a net margin of 19.81%. The firm had revenue of $3.81 billion during the quarter, compared to the consensus estimate of $3.70 billion. During the same period in the prior year, the business earned $1.82 EPS. The business’s revenue for the quarter was up 16.6% on a year-over-year basis. research analysts forecast that Celgene Co. will post 7.64 earnings per share for the current year.

Celgene announced that its board has authorized a share buyback program on Thursday, May 24th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the biopharmaceutical company to repurchase up to 5.4% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Several equities research analysts have recently commented on CELG shares. Canaccord Genuity reaffirmed a “buy” rating on shares of Celgene in a report on Wednesday, May 30th. Cowen reaffirmed a “buy” rating and set a $150.00 target price on shares of Celgene in a report on Tuesday, July 10th. Mizuho reaffirmed a “buy” rating and set a $118.00 target price on shares of Celgene in a report on Tuesday, July 10th. Standpoint Research raised Celgene from a “hold” rating to a “buy” rating in a report on Monday, June 18th. Finally, BidaskClub raised Celgene from a “hold” rating to a “buy” rating in a report on Thursday, August 16th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, twenty have assigned a buy rating and two have issued a strong buy rating to the stock. Celgene has a consensus rating of “Buy” and an average price target of $121.85.

About Celgene

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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Institutional Ownership by Quarter for Celgene (NASDAQ:CELG)

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