Novare Capital Management LLC boosted its position in shares of Celgene Co. (NASDAQ:CELG) by 6.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 52,044 shares of the biopharmaceutical company’s stock after purchasing an additional 3,265 shares during the quarter. Novare Capital Management LLC’s holdings in Celgene were worth $5,431,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Fusion Family Wealth LLC bought a new position in Celgene in the fourth quarter valued at approximately $136,000. Investment Management of Virginia LLC lifted its stake in Celgene by 17.5% in the fourth quarter. Investment Management of Virginia LLC now owns 53,616 shares of the biopharmaceutical company’s stock valued at $5,595,000 after buying an additional 7,988 shares in the last quarter. BT Investment Management Ltd lifted its stake in Celgene by 175.7% in the fourth quarter. BT Investment Management Ltd now owns 141,413 shares of the biopharmaceutical company’s stock valued at $14,758,000 after buying an additional 90,120 shares in the last quarter. NF Trinity Capital Hong Kong Ltd lifted its stake in Celgene by 51.6% in the fourth quarter. NF Trinity Capital Hong Kong Ltd now owns 107,491 shares of the biopharmaceutical company’s stock valued at $11,218,000 after buying an additional 36,574 shares in the last quarter. Finally, Concentric Wealth Management LLC lifted its stake in Celgene by 6.9% in the fourth quarter. Concentric Wealth Management LLC now owns 12,176 shares of the biopharmaceutical company’s stock valued at $1,271,000 after buying an additional 785 shares in the last quarter. 78.67% of the stock is currently owned by hedge funds and other institutional investors.
In related news, insider Mark J. Alles acquired 3,260 shares of the firm’s stock in a transaction on Thursday, February 8th. The shares were purchased at an average cost of $91.90 per share, for a total transaction of $299,594.00. Following the completion of the acquisition, the insider now directly owns 178,904 shares in the company, valued at $16,441,277.60. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, Director Gilla Kaplan sold 9,250 shares of the company’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $94.83, for a total transaction of $877,177.50. Following the completion of the transaction, the director now owns 94,801 shares in the company, valued at $8,989,978.83. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 41,120 shares of company stock worth $3,879,509. 0.95% of the stock is owned by corporate insiders.
A number of research analysts have weighed in on the stock. Vetr lowered shares of Celgene from a “strong-buy” rating to a “buy” rating and set a $121.72 price target on the stock. in a research note on Monday, December 18th. Deutsche Bank assumed coverage on shares of Celgene in a research note on Tuesday, December 12th. They issued a “hold” rating and a $114.00 price target on the stock. Credit Suisse Group set a $128.00 price target on shares of Celgene and gave the company a “buy” rating in a research note on Tuesday, December 12th. Piper Jaffray Companies reaffirmed a “hold” rating on shares of Celgene in a research note on Sunday, December 10th. Finally, Oppenheimer set a $166.00 price target on shares of Celgene and gave the company a “buy” rating in a research note on Thursday, December 14th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the stock. Celgene presently has an average rating of “Buy” and an average target price of $128.22.
Celgene Co. (NASDAQ CELG) opened at $91.61 on Thursday. The firm has a market cap of $68,910.00, a price-to-earnings ratio of 17.45, a P/E/G ratio of 0.65 and a beta of 1.58. Celgene Co. has a fifty-two week low of $86.55 and a fifty-two week high of $147.17. 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 (NASDAQ:CELG) last issued its earnings results on Thursday, January 25th. The biopharmaceutical company reported $1.87 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.78 by $0.09. The business had revenue of $3.48 billion for the quarter, compared to the consensus estimate of $3.46 billion. Celgene had a net margin of 22.38% and a return on equity of 67.50%. The firm’s revenue for the quarter was up 16.9% on a year-over-year basis. During the same period in the previous year, the company earned $1.61 earnings per share. analysts anticipate that Celgene Co. will post 7.66 EPS for the current year.
Celgene declared that its board has approved a stock buyback plan on Wednesday, February 14th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the biopharmaceutical company to purchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.
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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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