First Republic Investment Management Inc. trimmed its holdings in Celgene Co. (NASDAQ:CELG) by 6.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 433,533 shares of the biopharmaceutical company’s stock after selling 30,281 shares during the period. First Republic Investment Management Inc. owned 0.06% of Celgene worth $34,431,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also added to or reduced their stakes in CELG. American Century Companies Inc. lifted its position in shares of Celgene by 6.4% in the first quarter. American Century Companies Inc. now owns 4,323,778 shares of the biopharmaceutical company’s stock valued at $385,724,000 after buying an additional 258,561 shares during the last quarter. Jacobi Capital Management LLC lifted its position in shares of Celgene by 11.7% in the first quarter. Jacobi Capital Management LLC now owns 5,731 shares of the biopharmaceutical company’s stock valued at $499,000 after buying an additional 601 shares during the last quarter. Conning Inc. increased its stake in shares of Celgene by 8.8% during the first quarter. Conning Inc. now owns 22,114 shares of the biopharmaceutical company’s stock worth $1,973,000 after purchasing an additional 1,790 shares during the period. Bray Capital Advisors increased its stake in shares of Celgene by 63.9% during the first quarter. Bray Capital Advisors now owns 12,016 shares of the biopharmaceutical company’s stock worth $1,072,000 after purchasing an additional 4,685 shares during the period. Finally, Peddock Capital Advisors LLC increased its stake in shares of Celgene by 10.5% during the first quarter. Peddock Capital Advisors LLC now owns 14,380 shares of the biopharmaceutical company’s stock worth $1,283,000 after purchasing an additional 1,371 shares during the period. 73.20% of the stock is owned by institutional investors.
In other Celgene news, Director Ernest Mario sold 12,000 shares of the firm’s stock in a transaction on 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 transaction, the director now owns 44,413 shares in the company, valued at approximately $4,100,208.16. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director John H. Weiland acquired 5,575 shares of the stock in a transaction on Tuesday, August 7th. The shares were bought 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 owned by company insiders.
Celgene stock opened at $90.46 on Friday. Celgene Co. has a one year low of $74.13 and a one 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. The firm has a market cap of $63.23 billion, a price-to-earnings ratio of 13.23, a P/E/G ratio of 0.54 and a beta of 1.32.
Celgene (NASDAQ:CELG) last posted its quarterly earnings data on Thursday, July 26th. The biopharmaceutical company reported $2.16 EPS for the quarter, topping 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 firm had revenue of $3.81 billion for the quarter, compared to analyst estimates of $3.70 billion. During the same quarter last year, the company earned $1.82 EPS. The company’s revenue was up 16.6% on a year-over-year basis. equities research analysts expect that Celgene Co. will post 7.64 earnings per share for the current fiscal year.
Celgene declared that its Board of Directors has initiated a stock buyback plan on Thursday, May 24th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the biopharmaceutical company to buy up to 5.4% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.
A number of equities analysts have recently weighed in on the company. BidaskClub upgraded Celgene from a “hold” rating to a “buy” rating in a research note on Thursday, August 16th. Zacks Investment Research upgraded Celgene from a “sell” rating to a “strong-buy” rating and set a $102.00 target price on the stock in a research note on Wednesday, August 1st. Mizuho reiterated a “buy” rating and set a $129.00 target price on shares of Celgene in a research note on Tuesday, July 31st. SunTrust Banks reiterated a “hold” rating and set a $101.00 target price on shares of Celgene in a research note on Friday, July 27th. Finally, Morgan Stanley increased their target price on Celgene from $91.00 to $93.00 and gave the stock an “equal weight” rating in a research note on Friday, July 27th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-one have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $121.85.
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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