Brick & Kyle Associates Trims Position in Celgene Co. (CELG)

Share on StockTwits

Brick & Kyle Associates lowered its holdings in Celgene Co. (NASDAQ:CELG) by 8.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,340 shares of the biopharmaceutical company’s stock after selling 950 shares during the quarter. Brick & Kyle Associates’ holdings in Celgene were worth $821,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Jacobi Capital Management LLC lifted its stake in Celgene by 11.7% during the 1st quarter. Jacobi Capital Management LLC now owns 5,731 shares of the biopharmaceutical company’s stock valued at $499,000 after acquiring an additional 601 shares in the last quarter. Wetherby Asset Management Inc. lifted its stake in Celgene by 5.4% during the 2nd quarter. Wetherby Asset Management Inc. now owns 11,857 shares of the biopharmaceutical company’s stock valued at $942,000 after acquiring an additional 603 shares in the last quarter. Rossmore Private Capital lifted its stake in Celgene by 25.7% during the 1st quarter. Rossmore Private Capital now owns 2,975 shares of the biopharmaceutical company’s stock valued at $265,000 after acquiring an additional 609 shares in the last quarter. Wealth Advisors of Tampa Bay LLC lifted its stake in Celgene by 4.4% during the 1st quarter. Wealth Advisors of Tampa Bay LLC now owns 15,141 shares of the biopharmaceutical company’s stock valued at $1,352,000 after acquiring an additional 635 shares in the last quarter. Finally, Avestar Capital LLC lifted its stake in Celgene by 34.6% during the 1st quarter. Avestar Capital LLC now owns 2,511 shares of the biopharmaceutical company’s stock valued at $203,000 after acquiring an additional 645 shares in the last quarter. 76.82% of the stock is owned by institutional investors and hedge funds.

In related news, Director Ernest Mario sold 12,000 shares of the business’s stock in a transaction dated Thursday, August 9th. The stock was sold at an average price of $92.32, for a total value of $1,107,840.00. Following the sale, the director now directly owns 44,413 shares in the company, valued at approximately $4,100,208.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John H. Weiland acquired 5,575 shares of the stock in a transaction that occurred on Tuesday, August 7th. The stock was purchased at an average price of $89.73 per share, for a total transaction of $500,244.75. The disclosure for this purchase can be found here. Insiders sold a total of 42,750 shares of company stock worth $3,533,390 over the last 90 days. 0.39% of the stock is currently owned by company insiders.

Several equities analysts have weighed in on the company. BidaskClub upgraded Celgene from a “hold” rating to a “buy” rating in a research note on Thursday. Cowen restated a “buy” rating and set a $150.00 price objective on shares of Celgene in a research note on Tuesday, July 10th. Mizuho restated a “buy” rating and set a $118.00 price objective on shares of Celgene in a research note on Tuesday, July 10th. SunTrust Banks restated a “hold” rating and set a $101.00 price objective on shares of Celgene in a research note on Friday, July 27th. Finally, Zacks Investment Research upgraded Celgene from a “sell” rating to a “strong-buy” rating and set a $102.00 price objective on the stock in a research note on Wednesday, August 1st. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-one have issued a buy rating and two have assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $121.85.

Shares of Celgene stock opened at $90.37 on Friday. Celgene Co. has a 52-week low of $74.13 and a 52-week high of $147.17. The stock has a market capitalization of $64.15 billion, a P/E ratio of 13.21, a PEG ratio of 0.57 and a beta of 1.32. The company has a current ratio of 1.52, a quick ratio of 1.40 and a debt-to-equity ratio of 5.76.

Celgene (NASDAQ:CELG) last announced its quarterly earnings data on Thursday, July 26th. The biopharmaceutical company reported $2.16 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.11 by $0.05. Celgene had a return on equity of 87.28% and a net margin of 19.81%. The business had revenue of $3.81 billion for the quarter, compared to analysts’ expectations of $3.70 billion. During the same period in the previous year, the business posted $1.82 EPS. The firm’s quarterly revenue was up 16.6% compared to the same quarter last year. sell-side analysts forecast that Celgene Co. will post 7.64 EPS for the current year.

Celgene announced that its Board of Directors has initiated a share buyback plan on Thursday, May 24th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the biopharmaceutical company to repurchase up to 5.4% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its stock is undervalued.

About Celgene

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.

Read More: Outstanding Shares, Buying and Selling Stocks

Institutional Ownership by Quarter for Celgene (NASDAQ:CELG)

Receive News & Ratings for Celgene Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Celgene and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply