LS Investment Advisors LLC lessened its stake in Celgene Co. (NASDAQ:CELG) by 13.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 20,238 shares of the biopharmaceutical company’s stock after selling 3,016 shares during the quarter. LS Investment Advisors LLC’s holdings in Celgene were worth $2,112,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Arcadia Investment Management Corp MI increased its holdings in shares of Celgene by 118.7% in the third 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 last quarter. Robecosam AG acquired a new stake in shares of Celgene in the third quarter valued at approximately $114,000. Capital Bank & Trust Co increased its holdings in shares of Celgene by 166.8% in the third quarter. Capital Bank & Trust Co now owns 827 shares of the biopharmaceutical company’s stock valued at $121,000 after purchasing an additional 517 shares during the last quarter. Guidant Wealth Advisors acquired a new stake in shares of Celgene in the third quarter valued at approximately $119,000. Finally, Balentine LLC increased its holdings in shares of Celgene by 83.5% in the second quarter. Balentine LLC now owns 1,057 shares of the biopharmaceutical company’s stock valued at $137,000 after purchasing an additional 481 shares during the last quarter. 78.60% of the stock is owned by hedge funds and other institutional investors.
Several research firms recently commented on CELG. BidaskClub cut Celgene from a “sell” rating to a “strong sell” rating in a report on Thursday. Robert W. Baird reissued a “hold” rating and set a $92.00 target price on shares of Celgene in a research note on Thursday, March 1st. Credit Suisse Group set a $129.00 target price on Celgene and gave the stock a “buy” rating in a research note on Thursday, March 1st. BMO Capital Markets cut their target price on Celgene from $144.00 to $139.00 and set an “outperform” rating for the company in a research note on Wednesday, February 28th. Finally, William Blair reissued a “buy” rating on shares of Celgene in a research note on Wednesday, February 28th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Celgene presently has a consensus rating of “Buy” and an average price target of $128.22.
In related news, 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 transaction, the director now directly owns 94,801 shares in the company, valued at $9,099,947.99. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Ernest Mario sold 13,370 shares of Celgene stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $94.49, for a total value of $1,263,331.30. The disclosure for this sale can be found here. Over the last quarter, insiders sold 41,120 shares of company stock valued at $3,879,509. 0.95% of the stock is currently owned by company insiders.
Celgene stock opened at $89.61 on Monday. The stock 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 Co. has a fifty-two week low of $86.55 and a fifty-two week high of $147.17. 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 (NASDAQ:CELG) last released its earnings results on Thursday, January 25th. The biopharmaceutical company reported $1.87 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.78 by $0.09. The firm had revenue of $3.48 billion during the quarter, compared to analyst estimates of $3.46 billion. Celgene had a return on equity of 67.50% and a net margin of 22.38%. Celgene’s revenue was up 16.9% compared to the same quarter last year. During the same period last year, the business posted $1.61 earnings per share. research analysts anticipate that Celgene Co. will post 7.66 EPS for the current year.
Celgene declared that its board has initiated a share buyback plan on Wednesday, February 14th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the biopharmaceutical company to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its stock is 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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