Bridges Investment Management Inc. lifted its position in shares of Celgene Co. (NASDAQ:CELG) by 5.5% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 281,205 shares of the biopharmaceutical company’s stock after buying an additional 14,683 shares during the period. Celgene accounts for approximately 1.0% of Bridges Investment Management Inc.’s portfolio, making the stock its 24th largest holding. Bridges Investment Management Inc.’s holdings in Celgene were worth $22,333,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Cozad Asset Management Inc. purchased a new position in shares of Celgene during the second quarter valued at approximately $3,103,000. Moneta Group Investment Advisors LLC increased its position in Celgene by 2,688.6% during the second quarter. Moneta Group Investment Advisors LLC now owns 10,290 shares of the biopharmaceutical company’s stock worth $114,000 after purchasing an additional 9,921 shares during the last quarter. Sio Capital Management LLC increased its position in Celgene by 34.5% during the second quarter. Sio Capital Management LLC now owns 41,942 shares of the biopharmaceutical company’s stock worth $3,331,000 after purchasing an additional 10,762 shares during the last quarter. Worldquant Millennium Quantitative Strategies LLC acquired a new position in Celgene during the second quarter worth approximately $7,620,000. Finally, Centaurus Financial Inc. increased its position in Celgene by 224.8% during the second quarter. Centaurus Financial Inc. now owns 7,203 shares of the biopharmaceutical company’s stock worth $572,000 after purchasing an additional 4,985 shares during the last quarter. 73.11% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts recently commented on CELG shares. Morgan Stanley upped their price target on shares of Celgene from $90.00 to $91.00 and gave the stock an “equal weight” rating in a research report on Friday, July 13th. Canaccord Genuity reaffirmed a “buy” rating on shares of Celgene in a research report on Wednesday, May 30th. Zacks Investment Research lowered shares of Celgene from a “hold” rating to a “sell” rating in a research report on Wednesday, July 18th. Cantor Fitzgerald set a $112.00 price target on shares of Celgene and gave the stock a “hold” rating in a research report on Friday, June 1st. Finally, BidaskClub raised shares of Celgene from a “hold” rating to a “buy” rating in a research report on Thursday, August 16th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, twenty have given a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $121.85.
In other news, Director John H. Weiland purchased 5,575 shares of the stock in a transaction that occurred on Tuesday, August 7th. The stock was acquired at an average cost of $89.73 per share, with a total value of $500,244.75. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, Director Ernest Mario sold 12,000 shares of the firm’s stock in a transaction on Thursday, August 9th. The shares were sold at an average price of $92.32, for a total transaction of $1,107,840.00. Following the sale, the director now directly owns 44,413 shares of the company’s stock, valued at $4,100,208.16. The disclosure for this sale can be found here. 0.39% of the stock is currently owned by company insiders.
Celgene stock opened at $88.74 on Friday. Celgene Co. has a 52-week low of $74.13 and a 52-week high of $147.17. The firm has a market capitalization of $61.35 billion, a PE ratio of 12.97, a price-to-earnings-growth ratio of 0.52 and a beta of 1.32. The company has a quick ratio of 1.40, a current ratio of 1.52 and a debt-to-equity ratio of 5.76.
Celgene (NASDAQ:CELG) last released its quarterly earnings data on Thursday, July 26th. The biopharmaceutical company reported $2.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.11 by $0.05. Celgene had a net margin of 19.81% and a return on equity of 87.28%. The company had revenue of $3.81 billion during the quarter, compared to analyst estimates of $3.70 billion. During the same quarter in the prior year, the business earned $1.82 earnings per share. The business’s quarterly revenue was up 16.6% compared to the same quarter last year. research analysts anticipate that Celgene Co. will post 7.64 EPS for the current fiscal year.
Celgene announced that its board has authorized a share buyback plan on Thursday, May 24th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the biopharmaceutical company to repurchase up to 5.4% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.
Celgene Company Profile
Celgene Corporation, a biopharmaceutical company, engages in the discovery, development, and commercialization of therapies for the treatment of cancer and inflammatory diseases worldwide. It offers REVLIMID, an oral immunomodulatory drug for multiple myeloma (MM), myelodysplastic syndromes (MDS), and mantle cell lymphoma; POMALYST/IMNOVID to treat multiple myeloma; OTEZLA, a small-molecule inhibitor of phosphodiesterase 4 for psoriatic arthritis and psoriasis; and ABRAXANE, a solvent-free chemotherapy product to treat breast, non-small cell lung, pancreatic, and gastric cancers.
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