Essex Investment Management Co. LLC cut its stake in shares of Celgene Co. (NASDAQ:CELG) by 78.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 24,573 shares of the biopharmaceutical company’s stock after selling 91,561 shares during the period. Essex Investment Management Co. LLC’s holdings in Celgene were worth $2,564,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Polen Capital Management LLC boosted its position in Celgene by 7.7% during 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 purchasing an additional 363,108 shares during the last quarter. BlackRock Inc. boosted its position in Celgene by 5.7% during the second quarter. BlackRock Inc. now owns 56,725,342 shares of the biopharmaceutical company’s stock valued at $7,366,919,000 after purchasing an additional 3,084,227 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of 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 buying an additional 1,610,056 shares during the last quarter. Nicholas Company Inc. lifted its position in shares of 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 buying an additional 9,285 shares during the last quarter. Finally, Lockheed Martin Investment Management Co. lifted its position in shares of 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 buying an additional 4,000 shares during the last quarter. 78.67% of the stock is owned by hedge funds and other institutional investors.
In other Celgene news, Director Gilla Kaplan sold 9,250 shares of the firm’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $95.99, for a total transaction of $887,907.50. Following the transaction, the director now owns 94,801 shares in the company, valued at approximately $9,099,947.99. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Mark J. Alles acquired 3,260 shares of the stock in a transaction on Thursday, February 8th. The shares were bought at an average price of $91.90 per share, for a total transaction of $299,594.00. Following the purchase, the insider now owns 178,904 shares in the company, valued at $16,441,277.60. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 31,870 shares of company stock worth $3,028,416. Corporate insiders own 0.95% of the company’s stock.
Celgene Co. (NASDAQ:CELG) opened at $92.28 on Tuesday. Celgene Co. has a 52 week low of $86.55 and a 52 week high of $147.17. The company has a debt-to-equity ratio of 2.29, a quick ratio of 4.80 and a current ratio of 4.99. The company has a market capitalization of $69,617.61, a price-to-earnings ratio of 25.78, a price-to-earnings-growth ratio of 0.65 and a beta of 1.58.
Celgene (NASDAQ:CELG) last posted its quarterly earnings data on Thursday, January 25th. The biopharmaceutical company reported $1.87 EPS for the quarter, topping the Zacks’ consensus estimate of $1.78 by $0.09. Celgene had a return on equity of 67.50% and a net margin of 22.38%. The firm had revenue of $3.48 billion for the quarter, compared to analyst estimates of $3.46 billion. During the same quarter last year, the company earned $1.61 EPS. The company’s revenue was up 16.9% on a year-over-year basis. equities analysts forecast that Celgene Co. will post 7.66 earnings per share for the current year.
Celgene declared that its board has approved a share buyback program on Wednesday, February 14th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the biopharmaceutical company to reacquire shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.
A number of analysts have recently issued reports on the company. Robert W. Baird reaffirmed a “hold” rating and issued a $92.00 price objective on shares of Celgene in a research report on Thursday, March 1st. Credit Suisse Group set a $129.00 price objective on Celgene and gave the company a “buy” rating in a research report on Thursday, March 1st. BMO Capital Markets cut their price objective on Celgene from $144.00 to $139.00 and set an “outperform” rating for the company in a research report on Wednesday, February 28th. William Blair reaffirmed a “buy” rating on shares of Celgene in a research report on Wednesday, February 28th. Finally, UBS Group set a $106.00 price objective on Celgene and gave the company a “buy” rating in a research report on Wednesday, February 28th. Two equities research analysts have rated the stock with a sell rating, thirteen have given 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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