First National Bank of Omaha lessened its stake in Celgene Co. (NASDAQ:CELG) by 1.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 100,345 shares of the biopharmaceutical company’s stock after selling 1,280 shares during the quarter. First National Bank of Omaha’s holdings in Celgene were worth $10,593,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CELG. Polen Capital Management LLC grew its stake in Celgene by 7.7% in the second quarter. Polen Capital Management LLC now owns 5,082,991 shares of the biopharmaceutical company’s stock valued at $660,128,000 after acquiring an additional 363,108 shares during the period. BlackRock Inc. grew its stake in Celgene by 5.7% in the second quarter. BlackRock Inc. now owns 56,725,342 shares of the biopharmaceutical company’s stock valued at $7,366,919,000 after acquiring an additional 3,084,227 shares during the period. Vanguard Group Inc. grew its stake in Celgene by 3.1% in the second quarter. Vanguard Group Inc. now owns 53,527,210 shares of the biopharmaceutical company’s stock valued at $6,951,579,000 after acquiring an additional 1,610,056 shares during the period. Nicholas Company Inc. grew its stake in Celgene by 2.1% in the second quarter. Nicholas Company Inc. now owns 441,200 shares of the biopharmaceutical company’s stock valued at $57,298,000 after acquiring an additional 9,285 shares during the period. Finally, Lockheed Martin Investment Management Co. grew its stake in Celgene by 40.0% in the third quarter. Lockheed Martin Investment Management Co. now owns 14,000 shares of the biopharmaceutical company’s stock valued at $2,041,000 after acquiring an additional 4,000 shares during the period. Institutional investors and hedge funds own 78.67% of the company’s stock.
Celgene Co. (NASDAQ CELG) opened at $91.56 on Wednesday. Celgene Co. has a 52-week low of $86.55 and a 52-week high of $147.17. The company has a current ratio of 4.99, a quick ratio of 4.80 and a debt-to-equity ratio of 2.29. The company has a market capitalization of $69,410.77, a P/E ratio of 13.45, a P/E/G ratio of 0.65 and a beta of 1.58.
Celgene announced that its board has initiated a stock repurchase plan on Wednesday, February 14th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the biopharmaceutical company to reacquire shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.
A number of research firms have issued reports on CELG. Robert W. Baird reissued a “hold” rating and issued a $92.00 target price on shares of Celgene in a research note on Thursday, March 1st. Credit Suisse Group set a $129.00 target price on Celgene and gave the company a “buy” rating in a research note on Thursday, March 1st. BMO Capital Markets decreased their target price on Celgene from $144.00 to $139.00 and set an “outperform” rating for the company in a research note on Wednesday, February 28th. William Blair reissued a “buy” rating on shares of Celgene in a research note on Wednesday, February 28th. Finally, UBS Group set a $106.00 target price on Celgene and gave the company a “buy” rating in a research note on Wednesday, February 28th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $128.22.
In other Celgene news, Director James J. Loughlin sold 9,250 shares of the company’s stock in a transaction that occurred on Monday, March 12th. The stock was sold at an average price of $92.01, for a total value of $851,092.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Mark J. Alles acquired 3,260 shares of the company’s stock in a transaction on Thursday, February 8th. The stock was acquired at an average price of $91.90 per share, for a total transaction of $299,594.00. Following the purchase, the insider now directly owns 178,904 shares of the company’s stock, valued at $16,441,277.60. The disclosure for this purchase can be found here. Insiders have sold 41,120 shares of company stock valued at $3,879,509 over the last three months. Insiders own 0.95% of the company’s stock.
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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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