Shaker Investments LLC OH reduced its position in Celgene Co. (NASDAQ:CELG) by 27.3% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 11,003 shares of the biopharmaceutical company’s stock after selling 4,128 shares during the quarter. Shaker Investments LLC OH’s holdings in Celgene were worth $1,148,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also recently made changes to their positions in CELG. Capital Counsel LLC NY grew its stake in shares of Celgene by 0.4% during the 2nd quarter. Capital Counsel LLC NY now owns 1,649 shares of the biopharmaceutical company’s stock worth $214,000 after purchasing an additional 6 shares during the period. Fort Pitt Capital Group LLC grew its stake in shares of Celgene by 0.6% during the 2nd quarter. Fort Pitt Capital Group LLC now owns 1,925 shares of the biopharmaceutical company’s stock worth $250,000 after purchasing an additional 11 shares during the period. TCI Wealth Advisors Inc. grew its stake in shares of Celgene by 0.9% during the 2nd quarter. TCI Wealth Advisors Inc. now owns 3,043 shares of the biopharmaceutical company’s stock worth $395,000 after purchasing an additional 26 shares during the period. Linscomb & Williams Inc. grew its stake in shares of Celgene by 1.0% during the 2nd quarter. Linscomb & Williams Inc. now owns 3,813 shares of the biopharmaceutical company’s stock worth $495,000 after purchasing an additional 36 shares during the period. Finally, Courier Capital LLC grew its stake in shares of Celgene by 1.9% during the 2nd quarter. Courier Capital LLC now owns 1,987 shares of the biopharmaceutical company’s stock worth $258,000 after purchasing an additional 38 shares during the period. 78.67% of the stock is currently owned by institutional investors.
In other news, Director Ernest Mario sold 13,370 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $94.49, for a total transaction of $1,263,331.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mark J. Alles acquired 3,260 shares of the company’s stock in a transaction dated Thursday, February 8th. The shares were bought at an average cost of $91.90 per share, with a total value of $299,594.00. Following the purchase, the insider now owns 178,904 shares in the company, valued at $16,441,277.60. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 31,870 shares of company stock valued at $3,028,416. Corporate insiders own 0.95% of the company’s stock.
Celgene (NASDAQ:CELG) last posted its quarterly earnings data on Thursday, January 25th. The biopharmaceutical company reported $1.87 EPS for the quarter, beating the Zacks’ consensus estimate of $1.78 by $0.09. Celgene had a net margin of 22.38% and a return on equity of 67.50%. The company had revenue of $3.48 billion during the quarter, compared to the consensus estimate of $3.46 billion. During the same quarter in the prior year, the company posted $1.61 EPS. The company’s quarterly revenue was up 16.9% compared to the same quarter last year. sell-side analysts forecast that Celgene Co. will post 7.66 earnings per share for the current year.
Celgene declared that its board has approved a share buyback plan on Wednesday, February 14th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the biopharmaceutical company to reacquire shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its stock is undervalued.
A number of equities analysts have recently weighed in on CELG shares. BMO Capital Markets upped their price target on shares of Celgene from $148.00 to $155.00 and gave the stock an “outperform” rating in a research note on Friday, November 17th. Cantor Fitzgerald set a $112.00 price objective on shares of Celgene and gave the stock a “hold” rating in a research report on Wednesday, January 17th. William Blair reiterated a “buy” rating on shares of Celgene in a research report on Wednesday, February 28th. Credit Suisse Group set a $129.00 price objective on shares of Celgene and gave the stock a “buy” rating in a research report on Thursday, March 1st. Finally, Stifel Nicolaus set a $130.00 price objective on shares of Celgene and gave the stock a “buy” rating in a research report on Monday, January 8th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $128.22.
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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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