Main Street Research LLC reduced its holdings in Celgene Co. (NASDAQ:CELG) by 16.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,293 shares of the biopharmaceutical company’s stock after selling 2,185 shares during the period. Main Street Research LLC’s holdings in Celgene were worth $1,179,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. Beach Investment Management LLC. grew its holdings in shares of Celgene by 1,935.3% during the 2nd quarter. Beach Investment Management LLC. now owns 126,188 shares of the biopharmaceutical company’s stock worth $16,388,000 after purchasing an additional 119,988 shares in the last quarter. CIBC World Markets Inc. grew its holdings in shares of Celgene by 93.3% during the 2nd quarter. CIBC World Markets Inc. now owns 204,143 shares of the biopharmaceutical company’s stock worth $26,512,000 after purchasing an additional 98,517 shares in the last quarter. Eaton Vance Management grew its holdings in shares of Celgene by 10.4% during the 2nd quarter. Eaton Vance Management now owns 3,448,409 shares of the biopharmaceutical company’s stock worth $447,845,000 after purchasing an additional 323,608 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of Celgene by 3.3% during the 2nd quarter. Franklin Resources Inc. now owns 11,080,093 shares of the biopharmaceutical company’s stock worth $1,439,025,000 after purchasing an additional 349,974 shares in the last quarter. Finally, South Dakota Investment Council grew its holdings in shares of Celgene by 1.9% during the 2nd quarter. South Dakota Investment Council now owns 229,530 shares of the biopharmaceutical company’s stock worth $29,809,000 after purchasing an additional 4,330 shares in the last quarter. 78.67% of the stock is currently owned by institutional investors.
Several analysts have recently weighed in on CELG shares. BMO Capital Markets lifted their price objective on Celgene from $148.00 to $155.00 and gave the stock an “outperform” rating in a report on Friday, November 17th. Cantor Fitzgerald set a $112.00 price objective on Celgene and gave the stock a “hold” rating in a report on Wednesday, January 17th. William Blair reissued a “buy” rating on shares of Celgene in a report on Wednesday, February 28th. Credit Suisse Group set a $129.00 price objective on Celgene and gave the stock a “buy” rating in a report on Thursday, March 1st. Finally, Stifel Nicolaus set a $130.00 price objective on Celgene and gave the stock a “buy” rating in a report on Monday, January 8th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $128.22.
Celgene Co. (CELG) opened at $92.28 on Tuesday. The company has a debt-to-equity ratio of 2.29, a current ratio of 4.99 and a quick ratio of 4.80. The company has a market capitalization of $69,617.61, a price-to-earnings ratio of 25.78, a price-to-earnings-growth ratio of 0.65 and a beta of 1.58. Celgene Co. has a one year low of $86.55 and a one year high of $147.17.
Celgene (NASDAQ:CELG) last posted its quarterly earnings data on Thursday, January 25th. The biopharmaceutical company reported $1.87 EPS for the quarter, topping analysts’ consensus estimates of $1.78 by $0.09. The company had revenue of $3.48 billion for the quarter, compared to analyst estimates of $3.46 billion. Celgene had a return on equity of 67.50% and a net margin of 22.38%. The business’s revenue was up 16.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.61 earnings per share. sell-side analysts expect that Celgene Co. will post 7.66 EPS for the current year.
Celgene announced that its board has authorized a share repurchase program on Wednesday, February 14th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the biopharmaceutical company to reacquire shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.
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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