Pictet & Cie Europe SA Reduces Position in Celgene (CELG)

Pictet & Cie Europe SA decreased its holdings in shares of Celgene (NASDAQ:CELG) by 6.2% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 186,771 shares of the biopharmaceutical company’s stock after selling 12,341 shares during the period. Celgene makes up about 2.8% of Pictet & Cie Europe SA’s holdings, making the stock its 8th largest holding. Pictet & Cie Europe SA’s holdings in Celgene were worth $16,662,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of CELG. Edgewood Management LLC lifted its stake in Celgene by 0.9% during the third quarter. Edgewood Management LLC now owns 10,556,896 shares of the biopharmaceutical company’s stock worth $1,539,407,000 after purchasing an additional 98,943 shares during the last quarter. Janus Henderson Group PLC lifted its stake in Celgene by 11.9% during the third quarter. Janus Henderson Group PLC now owns 9,410,233 shares of the biopharmaceutical company’s stock worth $1,372,196,000 after purchasing an additional 1,001,272 shares during the last quarter. Geode Capital Management LLC lifted its stake in Celgene by 4.3% during the fourth quarter. Geode Capital Management LLC now owns 8,308,096 shares of the biopharmaceutical company’s stock worth $865,210,000 after purchasing an additional 343,340 shares during the last quarter. Clearbridge Investments LLC lifted its stake in Celgene by 17.0% during the fourth quarter. Clearbridge Investments LLC now owns 6,316,829 shares of the biopharmaceutical company’s stock worth $659,224,000 after purchasing an additional 916,173 shares during the last quarter. Finally, Polen Capital Management LLC lifted its stake in Celgene by 2.9% during the third quarter. Polen Capital Management LLC now owns 5,231,324 shares of the biopharmaceutical company’s stock worth $762,832,000 after purchasing an additional 148,333 shares during the last quarter. 75.69% of the stock is owned by institutional investors.

Celgene opened at $79.54 on Friday, Marketbeat.com reports. Celgene has a fifty-two week low of $74.13 and a fifty-two week high of $147.17. The company has a current ratio of 2.53, a quick ratio of 2.36 and a debt-to-equity ratio of 3.92. The company has a market cap of $56.29 billion, a price-to-earnings ratio of 11.63, a PEG ratio of 0.49 and a beta of 1.49.

Celgene (NASDAQ:CELG) last posted its earnings results on Friday, May 4th. The biopharmaceutical company reported $2.05 earnings per share for the quarter, topping analysts’ consensus estimates of $1.96 by $0.09. Celgene had a return on equity of 72.92% and a net margin of 20.73%. The firm had revenue of $3.54 billion for the quarter, compared to the consensus estimate of $3.47 billion. During the same quarter in the prior year, the business earned $1.68 EPS. The business’s revenue for the quarter was up 19.4% on a year-over-year basis. analysts expect that Celgene will post 7.63 EPS for the current year.

Celgene announced that its Board of Directors has approved a share 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. Shares repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.

In other news, Director Gilla Kaplan sold 27,750 shares of the business’s stock in a transaction that occurred on Friday, May 18th. The stock was sold at an average price of $78.66, for a total value of $2,182,815.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director James J. Loughlin sold 9,250 shares of the business’s stock in a transaction that occurred on Monday, March 12th. The stock was sold at an average price of $92.01, for a total value of $851,092.50. The disclosure for this sale can be found here. 0.95% of the stock is currently owned by corporate insiders.

Several equities research analysts have issued reports on the company. Cantor Fitzgerald set a $112.00 price target on Celgene and gave the stock a “hold” rating in a research note on Monday, April 2nd. ValuEngine lowered Celgene from a “hold” rating to a “sell” rating in a research note on Thursday, April 12th. Barclays set a $107.00 price target on Celgene and gave the stock a “buy” rating in a research note on Sunday, May 6th. UBS set a $106.00 price target on Celgene and gave the stock a “buy” rating in a research note on Wednesday, February 28th. Finally, Leerink Swann set a $123.00 price target on Celgene and gave the stock a “buy” rating in a research note on Wednesday, March 28th. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $123.35.

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.

Institutional Ownership by Quarter for Celgene (NASDAQ:CELG)

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