Whittier Trust Co. of Nevada Inc. lessened its position in Celgene Co. (NASDAQ:CELG) by 21.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 33,703 shares of the biopharmaceutical company’s stock after selling 9,461 shares during the quarter. Whittier Trust Co. of Nevada Inc.’s holdings in Celgene were worth $3,517,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Arcadia Investment Management Corp MI lifted its stake in shares of Celgene by 118.7% in the 3rd quarter. Arcadia Investment Management Corp MI now owns 737 shares of the biopharmaceutical company’s stock valued at $107,000 after purchasing an additional 400 shares during the period. Robecosam AG purchased a new position in Celgene during the third quarter valued at $114,000. Guidant Wealth Advisors purchased a new position in Celgene during the third quarter valued at $119,000. Capital Bank & Trust Co raised its stake in Celgene by 166.8% during the third quarter. Capital Bank & Trust Co now owns 827 shares of the biopharmaceutical company’s stock valued at $121,000 after buying an additional 517 shares during the last quarter. Finally, Fusion Family Wealth LLC purchased a new position in Celgene during the fourth quarter valued at $136,000. Institutional investors own 78.60% of the company’s stock.
In other news, insider Mark J. Alles acquired 3,260 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The stock was bought at an average price of $91.90 per share, with a total value of $299,594.00. Following the completion of the acquisition, the insider now directly owns 178,904 shares of the company’s stock, valued at approximately $16,441,277.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gilla Kaplan sold 9,250 shares of Celgene stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $95.99, for a total value of $887,907.50. Following the completion of the sale, the director now directly owns 94,801 shares of the company’s stock, valued at approximately $9,099,947.99. The disclosure for this sale can be found here. Insiders sold 41,120 shares of company stock valued at $3,879,509 in the last ninety days. 0.95% of the stock is currently owned by corporate insiders.
Shares of Celgene stock traded up $0.01 on Monday, hitting $89.62. The company had a trading volume of 379,847 shares, compared to its average volume of 8,026,851. 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 one year low of $86.55 and a one year high of $147.17. The company has a market capitalization of $67,402.45, a price-to-earnings ratio of 25.03, a P/E/G ratio of 0.63 and a beta of 1.58.
Celgene (NASDAQ:CELG) last issued its quarterly earnings data on Thursday, January 25th. The biopharmaceutical company reported $1.87 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.78 by $0.09. Celgene had a return on equity of 67.50% and a net margin of 22.38%. The company had revenue of $3.48 billion during the quarter, compared to analyst estimates of $3.46 billion. During the same quarter in the previous year, the company posted $1.61 earnings per share. Celgene’s revenue was up 16.9% compared to the same quarter last year. research analysts anticipate that Celgene Co. will post 7.66 earnings per share for the current fiscal year.
Celgene announced that its board has initiated a stock buyback plan on Wednesday, February 14th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the biopharmaceutical company to buy shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.
A number of research analysts have issued reports on CELG shares. Sanford C. Bernstein cut Celgene from an “outperform” rating to a “market perform” rating and set a $121.00 price objective for the company. in a research note on Wednesday, December 27th. SunTrust Banks reiterated a “buy” rating and set a $139.00 price objective (up previously from $127.00) on shares of Celgene in a research note on Friday, January 26th. Cann reiterated a “buy” rating and set a $166.00 price objective on shares of Celgene in a research note on Wednesday, November 22nd. Vetr upgraded Celgene from a “buy” rating to a “strong-buy” rating and set a $116.84 price objective for the company in a research note on Thursday, January 25th. Finally, Deutsche Bank started coverage on Celgene in a research note on Tuesday, December 12th. They set a “hold” rating and a $114.00 price objective for the company. 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 issued a strong buy rating to the company. Celgene currently has an average rating of “Buy” and a consensus price target of $128.22.
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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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