Celgene Co. (CELG) Position Trimmed by Baird Financial Group Inc.

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Baird Financial Group Inc. lowered its position in Celgene Co. (NASDAQ:CELG) by 2.2% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 350,502 shares of the biopharmaceutical company’s stock after selling 8,058 shares during the period. Baird Financial Group Inc.’s holdings in Celgene were worth $27,836,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Indiana Trust & Investment Management CO bought a new position in Celgene in the 2nd quarter worth $1,307,000. Prospera Financial Services Inc bought a new position in Celgene in the 2nd quarter worth $352,000. Headinvest LLC bought a new position in Celgene in the 2nd quarter worth $1,819,000. Edgewood Management LLC boosted its holdings in Celgene by 3.9% in the 1st quarter. Edgewood Management LLC now owns 11,980,937 shares of the biopharmaceutical company’s stock worth $1,068,819,000 after buying an additional 447,445 shares during the period. Finally, Lederer & Associates Investment Counsel CA bought a new position in Celgene in the 2nd quarter worth $1,423,000. 73.11% of the stock is owned by institutional investors.

Shares of NASDAQ CELG opened at $92.19 on Thursday. The company has a debt-to-equity ratio of 5.76, a quick ratio of 1.40 and a current ratio of 1.52. The stock has a market cap of $66.43 billion, a PE ratio of 13.48, a price-to-earnings-growth ratio of 0.57 and a beta of 1.33. Celgene Co. has a 12-month low of $74.13 and a 12-month high of $147.17.

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

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

Several research analysts recently weighed in on the stock. BidaskClub raised shares of Celgene from a “sell” rating to a “hold” rating in a report on Tuesday, July 10th. Cowen reiterated a “buy” rating and issued a $150.00 price target on shares of Celgene in a research note on Tuesday, July 10th. Mizuho reiterated a “buy” rating and issued a $118.00 price target on shares of Celgene in a research note on Tuesday, July 10th. Morgan Stanley boosted their price target on shares of Celgene from $90.00 to $91.00 and gave the stock an “equal weight” rating in a research note on Friday, July 13th. Finally, SunTrust Banks reiterated a “hold” rating and issued a $101.00 price target on shares of Celgene in a research note on Friday, July 27th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-one have assigned a buy rating and two have issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $121.85.

In other news, Director Ernest Mario sold 12,000 shares of the company’s stock in a transaction dated Thursday, August 9th. The shares were sold at an average price of $92.32, for a total transaction 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 filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John H. Weiland bought 5,575 shares of the firm’s stock in a transaction dated Tuesday, August 7th. The shares were acquired 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. 0.39% of the stock is currently owned by corporate insiders.

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.

Further Reading: Return on Investment (ROI) Defined, Explained

Institutional Ownership by Quarter for Celgene (NASDAQ:CELG)

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