Klingenstein Fields & Co. LLC Trims Holdings in Celgene Co. (CELG)

Klingenstein Fields & Co. LLC decreased its position in Celgene Co. (NASDAQ:CELG) by 7.1% during the third quarter, Holdings Channel reports. The fund owned 173,483 shares of the biopharmaceutical company’s stock after selling 13,319 shares during the quarter. Klingenstein Fields & Co. LLC’s holdings in Celgene were worth $15,525,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Johnson Financial Group Inc. grew its position in Celgene by 4.5% in the 2nd quarter. Johnson Financial Group Inc. now owns 13,100 shares of the biopharmaceutical company’s stock valued at $1,040,000 after acquiring an additional 567 shares during the last quarter. Wetherby Asset Management Inc. grew its position in Celgene by 5.4% in the 2nd quarter. Wetherby Asset Management Inc. now owns 11,857 shares of the biopharmaceutical company’s stock valued at $942,000 after acquiring an additional 603 shares during the last quarter. Tompkins Financial Corp grew its position in Celgene by 3.8% in the 2nd quarter. Tompkins Financial Corp now owns 18,059 shares of the biopharmaceutical company’s stock valued at $1,434,000 after acquiring an additional 656 shares during the last quarter. Hills Bank & Trust Co. grew its position in Celgene by 4.9% in the 3rd quarter. Hills Bank & Trust Co. now owns 14,255 shares of the biopharmaceutical company’s stock valued at $1,276,000 after acquiring an additional 672 shares during the last quarter. Finally, Coastline Trust Co grew its position in Celgene by 14.5% in the 2nd quarter. Coastline Trust Co now owns 5,370 shares of the biopharmaceutical company’s stock valued at $427,000 after acquiring an additional 680 shares during the last quarter. 72.98% of the stock is currently owned by institutional investors and hedge funds.

Shares of CELG stock opened at $74.19 on Friday. Celgene Co. has a twelve month low of $70.09 and a twelve month high of $110.81. The firm has a market capitalization of $50.07 billion, a price-to-earnings ratio of 10.85, a PEG ratio of 0.44 and a beta of 1.53. The company has a debt-to-equity ratio of 4.06, a current ratio of 2.13 and a quick ratio of 1.99.

Celgene (NASDAQ:CELG) last issued its earnings results on Thursday, October 25th. The biopharmaceutical company reported $2.29 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.02 by $0.27. The business had revenue of $3.89 billion during the quarter, compared to analysts’ expectations of $3.83 billion. Celgene had a return on equity of 108.76% and a net margin of 19.64%. As a group, equities analysts forecast that Celgene Co. will post 7.45 EPS for the current year.

Several equities analysts have commented on the company. Zacks Investment Research raised Celgene from a “sell” rating to a “strong-buy” rating and set a $102.00 price objective on the stock in a research report on Wednesday, August 1st. Mizuho reaffirmed a “buy” rating and issued a $129.00 price objective on shares of Celgene in a research report on Tuesday, July 31st. Cantor Fitzgerald assumed coverage on Celgene in a research report on Monday, October 1st. They issued an “overweight” rating and a $100.00 price objective on the stock. BidaskClub raised Celgene from a “hold” rating to a “buy” rating in a research report on Thursday, August 16th. Finally, Morgan Stanley upped their price objective on Celgene from $91.00 to $93.00 and gave the company an “equal weight” rating in a research report on Friday, July 27th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $117.91.

In related news, Director Ernest Mario sold 12,000 shares of the company’s stock in a transaction on 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 in the company, valued at approximately $4,100,208.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John H. Weiland acquired 5,575 shares of the firm’s stock in a transaction that occurred on Tuesday, August 7th. The shares were bought at an average price of $89.73 per share, with a total value of $500,244.75. The disclosure for this purchase can be found here. Corporate insiders own 0.39% of the company’s stock.

Celgene 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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Institutional Ownership by Quarter for Celgene (NASDAQ:CELG)

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