Polen Capital Management LLC boosted its position in shares of Celgene Corporation (NASDAQ:CELG) by 7.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,082,991 shares of the biopharmaceutical company’s stock after acquiring an additional 363,108 shares during the period. Celgene Corporation accounts for 5.8% of Polen Capital Management LLC’s investment portfolio, making the stock its 9th biggest holding. Polen Capital Management LLC owned approximately 0.65% of Celgene Corporation worth $660,128,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in the business. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Celgene Corporation during the first quarter worth about $118,000. Motco lifted its holdings in Celgene Corporation by 19.3% in the second quarter. Motco now owns 981 shares of the biopharmaceutical company’s stock valued at $127,000 after buying an additional 159 shares during the period. Penserra Capital Management LLC acquired a new position in Celgene Corporation in the second quarter valued at approximately $129,000. Acropolis Investment Management LLC acquired a new position in Celgene Corporation in the second quarter valued at approximately $144,000. Finally, Mitsubishi UFJ Securities Holdings Co. Ltd. raised its holdings in Celgene Corporation by 47.5% in the first quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 1,180 shares of the biopharmaceutical company’s stock worth $147,000 after purchasing an additional 380 shares during the period. 79.48% of the stock is owned by hedge funds and other institutional investors.
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Several equities research analysts have recently issued reports on CELG shares. Morgan Stanley downgraded shares of Celgene Corporation from an “equal weight” rating to an “underweight” rating and set a $120.00 price objective for the company. in a research report on Thursday, October 5th. BTIG Research reaffirmed a “hold” rating on shares of Celgene Corporation in a research report on Sunday, October 22nd. Cantor Fitzgerald reiterated a “hold” rating and issued a $112.00 price target on shares of Celgene Corporation in a research note on Monday, October 30th. Vetr upgraded shares of Celgene Corporation from a “buy” rating to a “strong-buy” rating and set a $144.39 price target for the company in a research note on Monday, October 23rd. Finally, Citigroup Inc. cut shares of Celgene Corporation from a “buy” rating to a “neutral” rating in a research note on Friday, October 20th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, nineteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $139.57.
Shares of Celgene Corporation (NASDAQ CELG) traded up $0.66 during trading on Thursday, hitting $105.16. 4,025,173 shares of the stock were exchanged, compared to its average volume of 4,736,209. The stock has a market capitalization of $82,274.63, a P/E ratio of 16.33, a price-to-earnings-growth ratio of 0.81 and a beta of 1.79. The company has a debt-to-equity ratio of 1.31, a quick ratio of 3.52 and a current ratio of 3.65. Celgene Corporation has a 52-week low of $94.55 and a 52-week high of $147.17.
Celgene Corporation (NASDAQ:CELG) last issued its quarterly earnings results on Thursday, October 26th. The biopharmaceutical company reported $1.91 EPS for the quarter, beating analysts’ consensus estimates of $1.87 by $0.04. Celgene Corporation had a net margin of 27.36% and a return on equity of 63.80%. The business had revenue of $3.29 billion for the quarter, compared to analysts’ expectations of $3.42 billion. During the same period last year, the business earned $1.58 earnings per share. The business’s quarterly revenue was up 10.2% on a year-over-year basis. equities research analysts expect that Celgene Corporation will post 6.67 EPS for the current year.
In other news, Director Michael D. Casey sold 9,250 shares of the firm’s stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $139.03, for a total value of $1,286,027.50. Following the transaction, the director now owns 9,250 shares in the company, valued at $1,286,027.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Terrie Curran sold 1,727 shares of the firm’s stock in a transaction that occurred on Monday, September 25th. The stock was sold at an average price of $143.89, for a total transaction of $248,498.03. Following the completion of the transaction, the insider now owns 3,925 shares in the company, valued at approximately $564,768.25. The disclosure for this sale can be found here. Insiders sold 20,227 shares of company stock worth $2,843,956 in the last 90 days. Company insiders own 0.95% of the company’s stock.
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.
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