V Wealth Management LLC reduced its stake in shares of Celgene Co. (NASDAQ:CELG) by 5.9% in the 4th quarter, Holdings Channel reports. The firm owned 16,093 shares of the biopharmaceutical company’s stock after selling 1,000 shares during the quarter. V Wealth Management LLC’s holdings in Celgene were worth $1,689,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of the stock. Capital Counsel LLC NY grew its stake in Celgene by 0.4% in the 2nd quarter. Capital Counsel LLC NY now owns 1,649 shares of the biopharmaceutical company’s stock worth $214,000 after acquiring an additional 6 shares during the period. Fort Pitt Capital Group LLC grew its stake in Celgene by 0.6% in the 2nd quarter. Fort Pitt Capital Group LLC now owns 1,925 shares of the biopharmaceutical company’s stock worth $250,000 after acquiring an additional 11 shares during the period. TCI Wealth Advisors Inc. grew its stake in Celgene by 0.9% in the 2nd quarter. TCI Wealth Advisors Inc. now owns 3,043 shares of the biopharmaceutical company’s stock worth $395,000 after acquiring an additional 26 shares during the period. Linscomb & Williams Inc. grew its stake in Celgene by 1.0% in the 2nd quarter. Linscomb & Williams Inc. now owns 3,813 shares of the biopharmaceutical company’s stock worth $495,000 after acquiring an additional 36 shares during the period. Finally, Courier Capital LLC grew its stake in Celgene by 1.9% in the 2nd quarter. Courier Capital LLC now owns 1,987 shares of the biopharmaceutical company’s stock worth $258,000 after acquiring an additional 38 shares during the period. Hedge funds and other institutional investors own 77.84% of the company’s stock.
Shares of Celgene Co. (NASDAQ CELG) opened at $95.26 on Monday. The company has a current ratio of 4.99, a quick ratio of 4.80 and a debt-to-equity ratio of 2.29. Celgene Co. has a 12-month low of $88.32 and a 12-month high of $147.17. The firm has a market cap of $71,652.25, a price-to-earnings ratio of 13.89, a P/E/G ratio of 0.67 and a beta of 1.49.
Celgene (NASDAQ:CELG) last announced its quarterly earnings results on Thursday, January 25th. The biopharmaceutical company reported $1.87 earnings per share for the quarter, topping analysts’ consensus estimates of $1.78 by $0.09. Celgene had a net margin of 22.38% and a return on equity of 67.50%. The firm had revenue of $3.48 billion during the quarter, compared to analysts’ expectations of $3.46 billion. During the same period in the prior year, the company earned $1.61 EPS. The firm’s revenue was up 16.9% on a year-over-year basis. analysts anticipate that Celgene Co. will post 7.68 earnings per share for the current year.
Celgene announced that its Board of Directors has authorized a share repurchase program on Wednesday, February 14th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the biopharmaceutical company to repurchase shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.
In other Celgene news, 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 cost of $91.90 per share, with a total value of $299,594.00. Following the transaction, the insider now owns 178,904 shares in the company, valued at $16,441,277.60. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.95% of the stock is currently owned by corporate insiders.
Several analysts have commented on the stock. Guggenheim assumed coverage on shares of Celgene in a research note on Monday, October 23rd. They issued a “buy” rating and a $160.00 target price for the company. Morgan Stanley lowered their target price on shares of Celgene from $120.00 to $115.00 and set an “underweight” rating for the company in a research note on Monday, October 23rd. Vetr raised shares of Celgene from a “buy” rating to a “strong-buy” rating and set a $144.39 target price for the company in a research note on Monday, October 23rd. Piper Jaffray Companies reaffirmed a “neutral” rating and issued a $133.00 target price on shares of Celgene in a research note on Monday, October 23rd. Finally, BTIG Research reaffirmed a “hold” rating on shares of Celgene in a research note on Sunday, October 22nd. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the company. Celgene presently has an average rating of “Buy” and an average price target of $130.25.
Celgene Company Profile
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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