Royal London Asset Management Ltd. Cuts Position in Celgene Co. (NASDAQ:CELG)

Royal London Asset Management Ltd. lessened its holdings in Celgene Co. (NASDAQ:CELG) by 1.5% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 281,124 shares of the biopharmaceutical company’s stock after selling 4,196 shares during the quarter. Royal London Asset Management Ltd.’s holdings in Celgene were worth $25,986,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. FMR LLC grew its holdings in shares of Celgene by 89.3% during the first quarter. FMR LLC now owns 16,656,629 shares of the biopharmaceutical company’s stock valued at $1,571,387,000 after buying an additional 7,856,422 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Celgene by 8.6% during the fourth quarter. Geode Capital Management LLC now owns 9,942,267 shares of the biopharmaceutical company’s stock valued at $636,179,000 after buying an additional 787,638 shares during the last quarter. Abrams Capital Management L.P. purchased a new stake in shares of Celgene during the first quarter valued at approximately $637,066,000. American Century Companies Inc. grew its holdings in shares of Celgene by 4.7% during the first quarter. American Century Companies Inc. now owns 3,865,722 shares of the biopharmaceutical company’s stock valued at $364,692,000 after buying an additional 172,466 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of Celgene by 1.0% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,990,147 shares of the biopharmaceutical company’s stock valued at $282,090,000 after buying an additional 28,374 shares during the last quarter. Institutional investors and hedge funds own 74.19% of the company’s stock.

CELG traded up $0.22 during trading on Tuesday, hitting $94.29. The company’s stock had a trading volume of 1,102,777 shares, compared to its average volume of 3,998,600. The company has a debt-to-equity ratio of 1.97, a quick ratio of 3.32 and a current ratio of 3.44. Celgene Co. has a one year low of $58.59 and a one year high of $98.97. The stock has a market cap of $66.70 billion, a price-to-earnings ratio of 12.39, a PEG ratio of 0.44 and a beta of 1.46. The stock has a 50 day moving average price of $92.74.

Celgene (NASDAQ:CELG) last announced its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported $2.61 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.44 by $0.17. The firm had revenue of $4.40 billion during the quarter, compared to analysts’ expectations of $4.22 billion. Celgene had a net margin of 32.24% and a return on equity of 89.93%. The company’s revenue for the quarter was up 15.4% compared to the same quarter last year. During the same period in the prior year, the company posted $2.16 earnings per share. Analysts expect that Celgene Co. will post 9.96 earnings per share for the current fiscal year.

A number of research firms have recently commented on CELG. Mizuho reiterated a “buy” rating and set a $103.00 price target on shares of Celgene in a report on Wednesday, July 3rd. BidaskClub upgraded shares of Celgene from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 3rd. Zacks Investment Research upgraded shares of Celgene from a “sell” rating to a “hold” rating and set a $94.00 price objective on the stock in a research report on Tuesday, July 23rd. Barclays downgraded shares of Celgene from an “overweight” rating to an “equal weight” rating and set a $102.00 price objective on the stock. in a research report on Friday, May 3rd. Finally, ValuEngine downgraded shares of Celgene from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 1st. Two analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and four have issued a buy rating to the company. Celgene presently has an average rating of “Hold” and an average price target of $94.81.

Celgene Profile

Celgene Corporation, a biopharmaceutical company, discovers, develops, and commercializes 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 to treat breast, non-small cell lung, pancreatic, and gastric cancers.

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Institutional Ownership by Quarter for Celgene (NASDAQ:CELG)

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