Tokio Marine Asset Management Co. Ltd. grew its holdings in Celgene Co. (NASDAQ:CELG) by 12.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 106,447 shares of the biopharmaceutical company’s stock after buying an additional 11,592 shares during the period. Celgene accounts for about 1.7% of Tokio Marine Asset Management Co. Ltd.’s holdings, making the stock its 11th biggest holding. Tokio Marine Asset Management Co. Ltd.’s holdings in Celgene were worth $11,109,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in CELG. Thompson Davis & CO. Inc. increased its position in Celgene by 5.9% during the second 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 last quarter. Arcadia Investment Management Corp MI increased its position in Celgene by 118.7% during the third 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 last quarter. Robecosam AG acquired a new stake in Celgene during the third quarter worth about $114,000. Guidant Wealth Advisors acquired a new stake in Celgene during the third quarter worth about $119,000. Finally, Capital Bank & Trust Co increased its position in Celgene by 166.8% during the third quarter. Capital Bank & Trust Co now owns 827 shares of the biopharmaceutical company’s stock worth $121,000 after purchasing an additional 517 shares during the last quarter. Hedge funds and other institutional investors own 78.67% of the company’s stock.
In related news, Director James J. Loughlin sold 9,250 shares of Celgene stock in a transaction that occurred on Monday, March 12th. The shares were sold at an average price of $92.01, for a total value of $851,092.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mark J. Alles purchased 3,260 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The stock was purchased at an average price of $91.90 per share, with a total value 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 sold 41,120 shares of company stock valued at $3,879,509 in the last quarter. 0.95% of the stock is owned by insiders.
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 Thomson Reuters’ 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 business had revenue of $3.48 billion during the quarter, compared to analyst estimates of $3.46 billion. During the same quarter last year, the firm posted $1.61 earnings per share. The business’s revenue for the quarter was up 16.9% compared to the same quarter last year. sell-side analysts expect that Celgene Co. will post 7.66 EPS for the current year.
Celgene declared that its Board of Directors has initiated a share repurchase program on Wednesday, February 14th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the biopharmaceutical company to reacquire shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.
Several equities research analysts recently issued reports on the stock. Vetr upgraded shares of Celgene from a “buy” rating to a “strong-buy” rating and set a $116.84 price objective for the company in a research report on Thursday, January 25th. Mizuho set a $128.00 price objective on shares of Celgene and gave the stock a “buy” rating in a research report on Tuesday, December 26th. BTIG Research restated a “hold” rating on shares of Celgene in a research report on Tuesday, January 23rd. BidaskClub upgraded shares of Celgene from a “sell” rating to a “hold” rating in a research report on Tuesday, December 12th. Finally, Citigroup restated a “hold” rating on shares of Celgene in a research report on Friday, December 22nd. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company’s stock. Celgene 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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