Great West Life Assurance Co. Can trimmed its position in shares of Celgene Co. (NASDAQ:CELG) by 2.9% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 664,906 shares of the biopharmaceutical company’s stock after selling 19,539 shares during the period. Great West Life Assurance Co. Can’s holdings in Celgene were worth $52,838,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of CELG. Global X Management Co. LLC increased its holdings in Celgene by 16.1% in the first quarter. Global X Management Co. LLC now owns 16,307 shares of the biopharmaceutical company’s stock valued at $1,455,000 after buying an additional 2,257 shares during the last quarter. Tower Bridge Advisors increased its holdings in Celgene by 25.0% in the first quarter. Tower Bridge Advisors now owns 6,002 shares of the biopharmaceutical company’s stock valued at $535,000 after buying an additional 1,200 shares during the last quarter. Daiwa Securities Group Inc. increased its holdings in Celgene by 9.1% in the first quarter. Daiwa Securities Group Inc. now owns 75,457 shares of the biopharmaceutical company’s stock valued at $6,732,000 after buying an additional 6,280 shares during the last quarter. Fulton Bank N.A. increased its holdings in Celgene by 17.0% in the first quarter. Fulton Bank N.A. now owns 30,579 shares of the biopharmaceutical company’s stock valued at $2,728,000 after buying an additional 4,451 shares during the last quarter. Finally, American Assets Investment Management LLC purchased a new position in Celgene in the first quarter valued at $892,000. 73.20% of the stock is currently owned by institutional investors and hedge funds.
In other news, Director Michael D. Casey sold 13,000 shares of the stock in a transaction dated Thursday, June 7th. The shares were sold at an average price of $78.77, for a total transaction of $1,024,010.00. Following the completion of the sale, the director now owns 27,750 shares in the company, valued at $2,185,867.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Ernest Mario sold 12,000 shares of the stock in a transaction dated Thursday, August 9th. The stock was sold at an average price of $92.32, for a total transaction of $1,107,840.00. Following the sale, the director now owns 44,413 shares of the company’s stock, valued at approximately $4,100,208.16. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 42,750 shares of company stock worth $3,533,390. Corporate insiders own 0.39% of the company’s stock.
CELG has been the topic of several recent analyst reports. Morgan Stanley dropped their target price on Celgene from $93.00 to $90.00 and set an “equal weight” rating on the stock in a report on Monday, May 7th. Royal Bank of Canada lowered Celgene from a “top pick” rating to an “outperform” rating and set a $120.00 target price on the stock. in a report on Monday, May 7th. Canaccord Genuity reissued a “buy” rating on shares of Celgene in a report on Wednesday, May 30th. Credit Suisse Group set a $129.00 target price on Celgene and gave the company a “buy” rating in a report on Saturday, May 5th. Finally, Zacks Investment Research lowered Celgene from a “buy” rating to a “hold” rating in a report on Thursday, May 10th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-one have given a buy rating and two have issued a strong buy rating to the stock. Celgene has an average rating of “Buy” and an average price target of $121.85.
Shares of CELG stock opened at $94.26 on Friday. The stock has a market cap of $65.01 billion, a price-to-earnings ratio of 12.98, a PEG ratio of 0.56 and a beta of 1.32. Celgene Co. has a 1 year low of $74.13 and a 1 year high of $147.17. The company has a debt-to-equity ratio of 5.76, a quick ratio of 1.40 and a current ratio of 1.52.
Celgene (NASDAQ:CELG) last issued its quarterly earnings data on Thursday, July 26th. The biopharmaceutical company reported $2.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.11 by $0.05. The company had revenue of $3.81 billion for the quarter, compared to analyst estimates of $3.70 billion. Celgene had a return on equity of 87.28% and a net margin of 19.81%. The business’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same quarter last year, the company posted $1.82 earnings per share. analysts predict that Celgene Co. will post 7.64 earnings per share for the current year.
Celgene announced that its Board of Directors has authorized a stock repurchase program on Thursday, May 24th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the biopharmaceutical company to buy up to 5.4% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.
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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