Inverness Counsel LLC NY reduced its stake in shares of Celgene Co. (NASDAQ:CELG) by 25.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 172,860 shares of the biopharmaceutical company’s stock after selling 57,910 shares during the period. Inverness Counsel LLC NY’s holdings in Celgene were worth $18,040,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of CELG. 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 worth $7,366,919,000 after acquiring an additional 3,084,227 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Celgene by 3.1% in the 2nd quarter. Vanguard Group Inc. now owns 53,527,210 shares of the biopharmaceutical company’s stock valued at $6,951,579,000 after purchasing an additional 1,610,056 shares during the last quarter. Jennison Associates LLC lifted its holdings in shares of Celgene by 11.5% in the 3rd quarter. Jennison Associates LLC now owns 14,962,407 shares of the biopharmaceutical company’s stock worth $2,181,818,000 after acquiring an additional 1,546,673 shares during the last quarter. FMR LLC lifted its holdings in shares of Celgene by 5.9% in the 2nd quarter. FMR LLC now owns 12,594,467 shares of the biopharmaceutical company’s stock worth $1,635,643,000 after acquiring an additional 697,250 shares during the last quarter. Finally, Franklin Resources Inc. lifted its holdings in shares of Celgene by 3.3% in the 2nd quarter. Franklin Resources Inc. now owns 11,080,093 shares of the biopharmaceutical company’s stock worth $1,439,025,000 after acquiring an additional 349,974 shares during the last quarter. Institutional investors and hedge funds own 78.67% of the company’s stock.
A number of research firms recently commented on CELG. Sanford C. Bernstein downgraded shares of Celgene from an “outperform” rating to a “market perform” rating and set a $121.00 target price on the stock. in a research report on Wednesday, December 27th. Oppenheimer set a $166.00 price target on shares of Celgene and gave the stock a “buy” rating in a research note on Thursday, November 16th. BMO Capital Markets raised their target price on shares of Celgene from $148.00 to $155.00 and gave the stock an “outperform” rating in a research note on Friday, November 17th. SunTrust Banks reiterated a “buy” rating and issued a $139.00 price target (up previously from $127.00) on shares of Celgene in a report on Friday, January 26th. Finally, Cann reiterated a “buy” rating and issued a $166.00 price target on shares of Celgene in a report on Wednesday, November 22nd. Two equities 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. The company currently has an average rating of “Buy” and an average target price of $128.22.
In other Celgene news, Director Ernest Mario sold 13,370 shares of the stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $94.49, for a total transaction of $1,263,331.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Mark J. Alles acquired 3,260 shares of the company’s stock in a transaction on Thursday, February 8th. The shares were bought at an average price of $91.90 per share, with a total value of $299,594.00. Following the completion of the purchase, the insider now directly owns 178,904 shares of the company’s stock, valued at $16,441,277.60. The disclosure for this purchase can be found here. Insiders sold 41,120 shares of company stock valued at $3,879,509 over the last three months. 0.95% of the stock is owned by company insiders.
Celgene Co. (CELG) traded up $0.15 during trading hours on Wednesday, reaching $91.71. The company had a trading volume of 4,519,517 shares, compared to its average volume of 8,030,790. The firm has a market capitalization of $68,980.00, a P/E ratio of 17.47, a P/E/G ratio of 0.65 and a beta of 1.58. The company has a quick ratio of 4.80, a current ratio of 4.99 and a debt-to-equity ratio of 2.29. Celgene Co. has a 12-month low of $86.55 and a 12-month high of $147.17.
Celgene (NASDAQ:CELG) last announced its earnings results on Thursday, January 25th. The biopharmaceutical company reported $1.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $3.46 billion. During the same quarter in the prior year, the business earned $1.61 earnings per share. The company’s revenue was up 16.9% on a year-over-year basis. equities analysts predict that Celgene Co. will post 7.66 earnings per share for the current year.
Celgene declared that its board has initiated a stock repurchase plan on Wednesday, February 14th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the biopharmaceutical company to reacquire shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership 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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