Renaissance Group LLC decreased its stake in shares of Celgene Co. (NASDAQ:CELG) by 11.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 219,667 shares of the biopharmaceutical company’s stock after selling 29,055 shares during the period. Renaissance Group LLC’s holdings in Celgene were worth $22,924,000 as of its most recent filing with the SEC.
Other hedge funds also recently made changes to their positions in the company. Beach Investment Management LLC. raised its stake in Celgene by 1,935.3% in the 2nd quarter. Beach Investment Management LLC. now owns 126,188 shares of the biopharmaceutical company’s stock worth $16,388,000 after purchasing an additional 119,988 shares in the last quarter. HGK Asset Management Inc. raised its stake in Celgene by 6.7% in the 2nd quarter. HGK Asset Management Inc. now owns 4,790 shares of the biopharmaceutical company’s stock worth $622,000 after purchasing an additional 300 shares in the last quarter. Stephens Inc. AR raised its stake in Celgene by 13.5% in the 2nd quarter. Stephens Inc. AR now owns 55,201 shares of the biopharmaceutical company’s stock worth $7,169,000 after purchasing an additional 6,587 shares in the last quarter. Raymond James Trust N.A. raised its stake in Celgene by 21.5% in the 2nd quarter. Raymond James Trust N.A. now owns 30,132 shares of the biopharmaceutical company’s stock worth $3,913,000 after purchasing an additional 5,329 shares in the last quarter. Finally, SVA Plumb Wealth Management LLC acquired a new stake in Celgene in the 2nd quarter worth about $237,000. 78.67% of the stock is owned by institutional investors and hedge funds.
In other Celgene news, Director James J. Loughlin sold 9,250 shares of the business’s stock in a transaction that occurred on Monday, March 12th. The shares were sold at an average price of $92.01, for a total transaction of $851,092.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Mark J. Alles bought 3,260 shares of Celgene stock in a transaction on Thursday, February 8th. The shares were acquired 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 disclosure for this purchase can be found here. Insiders have sold a total of 41,120 shares of company stock worth $3,879,509 over the last three months. Insiders own 0.95% of the company’s stock.
Celgene Co. (CELG) opened at $89.61 on Friday. The stock has a market cap of $67,628.11, a P/E ratio of 25.03, a P/E/G ratio of 0.63 and a beta of 1.58. Celgene Co. has a 12-month low of $86.55 and a 12-month 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 released its quarterly earnings data on Thursday, January 25th. The biopharmaceutical company reported $1.87 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.78 by $0.09. The business had revenue of $3.48 billion during the quarter, compared to analysts’ expectations of $3.46 billion. Celgene had a net margin of 22.38% and a return on equity of 67.50%. The firm’s quarterly revenue was up 16.9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.61 EPS. analysts anticipate that Celgene Co. will post 7.66 earnings per share for the current year.
Celgene announced that its board has authorized a share buyback program on Wednesday, February 14th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the biopharmaceutical company to purchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.
Several analysts have weighed in on the stock. BidaskClub cut shares of Celgene from a “sell” rating to a “strong sell” rating in a research note on Thursday. Robert W. Baird restated a “hold” rating and issued a $92.00 target price on shares of Celgene in a research report on Thursday, March 1st. Credit Suisse Group set a $129.00 target price on shares of Celgene and gave the company a “buy” rating in a research report on Thursday, March 1st. BMO Capital Markets dropped their target price on shares of Celgene from $144.00 to $139.00 and set an “outperform” rating for the company in a research report on Wednesday, February 28th. Finally, William Blair restated a “buy” rating on shares of Celgene in a research report on Wednesday, February 28th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company. Celgene presently has an average rating of “Buy” and a consensus price target of $128.22.
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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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