Celgene Co. (CELG) Expected to Announce Quarterly Sales of $3.46 Billion
Wall Street brokerages expect Celgene Co. (NASDAQ:CELG) to report sales of $3.46 billion for the current quarter, according to Zacks. Ten analysts have made estimates for Celgene’s earnings. The highest sales estimate is $3.62 billion and the lowest is $3.37 billion. Celgene posted sales of $2.98 billion during the same quarter last year, which would indicate a positive year over year growth rate of 16.1%. The company is expected to announce its next quarterly earnings results on Thursday, January 25th.
On average, analysts expect that Celgene will report full-year sales of $3.46 billion for the current financial year, with estimates ranging from $12.86 billion to $13.13 billion. For the next financial year, analysts forecast that the company will report sales of $14.98 billion per share, with estimates ranging from $14.52 billion to $15.83 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow Celgene.
Celgene (NASDAQ:CELG) last posted its earnings results on Thursday, October 26th. The biopharmaceutical company reported $1.91 EPS for the quarter, topping the Zacks’ consensus estimate of $1.87 by $0.04. The company had revenue of $3.29 billion for the quarter, compared to the consensus estimate of $3.42 billion. Celgene had a return on equity of 63.80% and a net margin of 27.36%. Celgene’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.58 earnings per share.
In related news, insider Terrie Curran sold 1,727 shares of the stock in a transaction dated Monday, September 25th. The stock was sold at an average price of $143.89, for a total value of $248,498.03. Following the completion of the transaction, the insider now owns 3,925 shares of the company’s stock, valued at $564,768.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.95% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the stock. Thompson Davis & CO. Inc. raised its position in shares of Celgene by 5.9% during the 2nd quarter. Thompson Davis & CO. Inc. now owns 773 shares of the biopharmaceutical company’s stock worth $100,000 after purchasing an additional 43 shares during the period. Arcadia Investment Management Corp MI raised its position in shares of Celgene by 118.7% during the 3rd quarter. Arcadia Investment Management Corp MI now owns 737 shares of the biopharmaceutical company’s stock worth $107,000 after purchasing an additional 400 shares during the period. Robecosam AG acquired a new stake in shares of Celgene during the 3rd quarter worth approximately $114,000. Guidant Wealth Advisors acquired a new stake in shares of Celgene during the 3rd quarter worth approximately $119,000. Finally, Capital Bank & Trust Co increased its position in Celgene by 166.8% in the 3rd quarter. Capital Bank & Trust Co now owns 827 shares of the biopharmaceutical company’s stock valued at $121,000 after acquiring an additional 517 shares during the period. 80.16% of the stock is owned by hedge funds and other institutional investors.
Celgene (NASDAQ CELG) traded up $1.17 during midday trading on Friday, hitting $109.41. The stock had a trading volume of 10,393,371 shares, compared to its average volume of 6,290,000. Celgene has a 12 month low of $94.55 and a 12 month high of $147.17. The firm has a market capitalization of $86,140.00, a PE ratio of 16.91, a price-to-earnings-growth ratio of 0.84 and a beta of 1.77. The company has a debt-to-equity ratio of 1.31, a quick ratio of 3.52 and a current ratio of 3.65.
Celgene Corporation is an integrated global biopharmaceutical company. The Company, together with its subsidiaries, is engaged in the discovery, development and commercialization of therapies for the treatment of cancer and inflammatory diseases through solutions in protein homeostasis, immuno-oncology, epigenetics, immunology and neuro-inflammation.
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