Metropolitan Life Insurance Co. NY decreased its stake in Celgene (NASDAQ:CELG) by 61.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 154,974 shares of the biopharmaceutical company’s stock after selling 249,158 shares during the quarter. Metropolitan Life Insurance Co. NY’s holdings in Celgene were worth $16,173,000 at the end of the most recent quarter.
Other hedge funds also recently added to or reduced their stakes in the company. Robecosam AG bought a new position in shares of Celgene during the 3rd quarter valued at $114,000. Capital Bank & Trust Co raised its holdings in shares of Celgene by 166.8% during the 3rd 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 in the last quarter. Guidant Wealth Advisors bought a new position in shares of Celgene during the 3rd quarter valued at $119,000. Virtue Capital Management LLC bought a new position in shares of Celgene during the 4th quarter valued at $101,000. Finally, American Beacon Advisors Inc. bought a new position in shares of Celgene during the 4th quarter valued at $120,000. Institutional investors own 78.53% of the company’s stock.
NASDAQ CELG opened at $91.01 on Thursday. The company has a current ratio of 4.99, a quick ratio of 4.80 and a debt-to-equity ratio of 2.29. The firm has a market capitalization of $68,101.98, a price-to-earnings ratio of 13.31, a P/E/G ratio of 0.61 and a beta of 1.49. Celgene has a 52-week low of $84.25 and a 52-week high of $147.17.
Celgene (NASDAQ:CELG) last posted its quarterly earnings results on Thursday, January 25th. The biopharmaceutical company reported $1.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.78 by $0.09. The company had revenue of $3.48 billion for the quarter, compared to analyst estimates of $3.46 billion. Celgene had a net margin of 22.38% and a return on equity of 67.50%. The business’s quarterly revenue was up 16.9% on a year-over-year basis. During the same period last year, the business posted $1.61 EPS. research analysts forecast that Celgene will post 7.66 EPS for the current fiscal year.
Celgene announced that its board has initiated a stock repurchase program on Wednesday, February 14th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the biopharmaceutical company to purchase shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
A number of research firms have recently weighed in on CELG. Cantor Fitzgerald set a $112.00 price target on shares of Celgene and gave the company a “hold” rating in a report on Tuesday, January 23rd. Deutsche Bank set a $110.00 price target on shares of Celgene and gave the company a “hold” rating in a report on Monday, January 8th. Robert W. Baird restated a “hold” rating and set a $92.00 price target on shares of Celgene in a report on Thursday, March 1st. SunTrust Banks set a $127.00 target price on shares of Celgene and gave the company a “buy” rating in a research note on Monday, January 8th. Finally, Zacks Investment Research upgraded shares of Celgene from a “sell” rating to a “hold” rating in a research note on Wednesday, January 31st. Four equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $126.95.
In related news, insider Mark J. Alles purchased 3,260 shares of the firm’s stock in a transaction on Thursday, February 8th. The shares were bought at an average cost of $91.90 per share, for a total transaction of $299,594.00. Following the transaction, the insider now directly owns 178,904 shares of the company’s stock, valued at approximately $16,441,277.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Gilla Kaplan sold 9,250 shares of the firm’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $95.99, for a total transaction of $887,907.50. Following the completion of the sale, the director now owns 94,801 shares in the company, valued at $9,099,947.99. The disclosure for this sale can be found here. Insiders sold a total of 41,120 shares of company stock worth $3,879,509 over the last 90 days. Company insiders own 0.95% of the company’s stock.
Celgene Company Profile
Celgene Corporation, a biopharmaceutical company, engages in the discovery, development, and commercialization of therapies for the treatment of cancer and inflammatory diseases worldwide. It offers REVLIMID, an oral immunomodulatory drug for multiple myeloma (MM), myelodysplastic syndromes (MDS), and mantle cell lymphoma; POMALYST/IMNOVID to treat multiple myeloma; OTEZLA, a small-molecule inhibitor of phosphodiesterase 4 for psoriatic arthritis and psoriasis; and ABRAXANE, a solvent-free chemotherapy product to treat breast, non-small cell lung, pancreatic, and gastric cancers.
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