Celgene Corporation (NASDAQ:CELG) Stake Increased by Meritage Portfolio Management

Meritage Portfolio Management increased its stake in shares of Celgene Corporation (NASDAQ:CELG) by 57.0% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 53,035 shares of the biopharmaceutical company’s stock after purchasing an additional 19,260 shares during the period. Meritage Portfolio Management’s holdings in Celgene Corporation were worth $6,888,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State Street Corp raised its holdings in shares of Celgene Corporation by 2.3% during the first quarter. State Street Corp now owns 32,473,417 shares of the biopharmaceutical company’s stock valued at $4,040,668,000 after purchasing an additional 723,844 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Celgene Corporation by 4.9% during the first quarter. Bank of New York Mellon Corp now owns 10,088,473 shares of the biopharmaceutical company’s stock valued at $1,255,309,000 after buying an additional 472,067 shares during the last quarter. American Century Companies Inc. increased its holdings in Celgene Corporation by 4.4% during the first quarter. American Century Companies Inc. now owns 6,563,791 shares of the biopharmaceutical company’s stock valued at $816,733,000 after buying an additional 276,089 shares during the last quarter. Pioneer Investment Management Inc. increased its holdings in Celgene Corporation by 15.7% during the first quarter. Pioneer Investment Management Inc. now owns 5,231,139 shares of the biopharmaceutical company’s stock valued at $650,911,000 after buying an additional 710,584 shares during the last quarter. Finally, Clearbridge Investments LLC increased its holdings in Celgene Corporation by 24.1% during the first quarter. Clearbridge Investments LLC now owns 4,601,919 shares of the biopharmaceutical company’s stock valued at $572,617,000 after buying an additional 892,392 shares during the last quarter. 79.43% of the stock is owned by hedge funds and other institutional investors.

ILLEGAL ACTIVITY NOTICE: This report was first published by The Ledger Gazette and is owned by of The Ledger Gazette. If you are viewing this report on another website, it was illegally stolen and republished in violation of U.S. and international copyright and trademark laws. The legal version of this report can be accessed at https://ledgergazette.com/2017/09/17/meritage-portfolio-management-has-6-89-million-stake-in-celgene-corporation-celg.html.

In other Celgene Corporation news, Director Ernest Mario sold 18,506 shares of the firm’s stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $130.52, for a total value of $2,415,403.12. Following the sale, the director now directly owns 69,424 shares of the company’s stock, valued at approximately $9,061,220.48. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Gilla Kaplan sold 9,250 shares of Celgene Corporation stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $141.56, for a total value of $1,309,430.00. Following the completion of the transaction, the director now directly owns 85,551 shares in the company, valued at $12,110,599.56. The disclosure for this sale can be found here. Over the last three months, insiders sold 267,476 shares of company stock worth $35,812,841. 0.95% of the stock is owned by corporate insiders.

A number of analysts have commented on the stock. Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and set a $175.00 target price on shares of Celgene Corporation in a report on Wednesday, August 9th. Jefferies Group LLC reiterated a “buy” rating and issued a $160.00 price target on shares of Celgene Corporation in a research report on Friday. Vetr upgraded shares of Celgene Corporation from a “buy” rating to a “strong-buy” rating and set a $148.32 price target for the company in a research report on Wednesday, August 16th. Bank of America Corporation restated a “buy” rating on shares of Celgene Corporation in a research report on Wednesday. Finally, SunTrust Banks, Inc. restated a “buy” rating and set a $150.00 target price on shares of Celgene Corporation in a research report on Friday, July 14th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $149.34.

Celgene Corporation (NASDAQ:CELG) opened at 142.04 on Friday. Celgene Corporation has a one year low of $96.93 and a one year high of $142.69. The firm’s 50-day moving average is $134.97 and its 200 day moving average is $127.46. The company has a market capitalization of $111.12 billion, a PE ratio of 43.99 and a beta of 1.89.

Celgene Corporation (NASDAQ:CELG) last posted its quarterly earnings data on Thursday, July 27th. The biopharmaceutical company reported $1.82 EPS for the quarter, topping analysts’ consensus estimates of $1.61 by $0.21. Celgene Corporation had a return on equity of 68.51% and a net margin of 21.35%. The firm had revenue of $3.27 billion during the quarter, compared to analysts’ expectations of $3.23 billion. During the same quarter last year, the business posted $1.44 EPS. The firm’s quarterly revenue was up 18.7% compared to the same quarter last year. On average, equities analysts expect that Celgene Corporation will post $7.33 EPS for the current fiscal year.

Celgene Corporation 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.

Institutional Ownership by Quarter for Celgene Corporation (NASDAQ:CELG)

Receive News & Ratings for Celgene Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Celgene Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply