Celgene Co. (CELG) Position Lessened by First Manhattan Co.

First Manhattan Co. lessened its holdings in Celgene Co. (NASDAQ:CELG) by 2.4% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 120,332 shares of the biopharmaceutical company’s stock after selling 2,943 shares during the period. First Manhattan Co.’s holdings in Celgene were worth $10,768,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Indiana Trust & Investment Management CO purchased a new stake in shares of Celgene in the second quarter worth $1,307,000. Prospera Financial Services Inc purchased a new stake in shares of Celgene in the second quarter worth $352,000. Korea Investment CORP raised its position in shares of Celgene by 1.5% in the second quarter. Korea Investment CORP now owns 674,446 shares of the biopharmaceutical company’s stock worth $53,565,000 after buying an additional 10,000 shares in the last quarter. Headinvest LLC purchased a new stake in shares of Celgene in the second quarter worth $1,819,000. Finally, Bangor Savings Bank raised its position in shares of Celgene by 21.2% in the third quarter. Bangor Savings Bank now owns 18,049 shares of the biopharmaceutical company’s stock worth $1,615,000 after buying an additional 3,157 shares in the last quarter. Institutional investors own 73.11% of the company’s stock.

Shares of NASDAQ:CELG opened at $84.28 on Thursday. Celgene Co. has a 12-month low of $74.13 and a 12-month high of $139.40. The stock has a market cap of $62.94 billion, a PE ratio of 12.32, a P/E/G ratio of 0.54 and a beta of 1.30. The company has a current ratio of 1.52, a quick ratio of 1.40 and a debt-to-equity ratio of 5.76.

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, beating the Zacks’ 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 for the quarter, compared to analysts’ expectations of $3.70 billion. During the same period last year, the firm earned $1.82 earnings per share. The company’s revenue for the quarter was up 16.6% compared to the same quarter last year. As a group, analysts anticipate that Celgene Co. will post 7.64 EPS for the current year.

CELG has been the topic of a number of recent analyst reports. BidaskClub upgraded Celgene from a “hold” rating to a “buy” rating in a research report on Thursday, August 16th. Cowen reissued a “buy” rating and issued a $150.00 target price on shares of Celgene in a research note on Tuesday, July 10th. Mizuho reissued a “buy” rating and issued a $118.00 target price on shares of Celgene in a research note on Tuesday, July 10th. JPMorgan Chase & Co. reissued a “buy” rating on shares of Celgene in a research note on Thursday, October 11th. Finally, Morgan Stanley increased their target price on Celgene from $91.00 to $93.00 and gave the company an “equal weight” rating in a research note on Friday, July 27th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company’s stock. Celgene currently has a consensus rating of “Buy” and a consensus target price of $119.99.

In related 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 value of $1,107,840.00. Following the sale, the director now directly owns 44,413 shares of the company’s stock, valued at $4,100,208.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John H. Weiland bought 5,575 shares of the business’s stock in a transaction that occurred on Tuesday, August 7th. The stock was acquired at an average cost of $89.73 per share, for a total transaction of $500,244.75. The disclosure for this purchase can be found here. 0.39% of the stock is currently owned by company insiders.

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.

Further Reading: Call Option

Want to see what other hedge funds are holding CELG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Celgene Co. (NASDAQ:CELG).

Institutional Ownership by Quarter for Celgene (NASDAQ:CELG)

Receive News & Ratings for Celgene Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Celgene and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply