Middleton & Co Inc MA lowered its stake in shares of Celgene Corporation (NASDAQ:CELG) by 3.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,743 shares of the biopharmaceutical company’s stock after selling 58 shares during the period. Middleton & Co Inc MA’s holdings in Celgene Corporation were worth $226,000 as of its most recent filing with the SEC.
Other hedge funds have also modified their holdings of the company. Norges Bank acquired a new stake in shares of Celgene Corporation during the fourth quarter valued at approximately $694,111,000. Bank of Montreal Can raised its stake in shares of Celgene Corporation by 149.8% in the first quarter. Bank of Montreal Can now owns 3,299,988 shares of the biopharmaceutical company’s stock valued at $410,615,000 after buying an additional 1,979,061 shares in the last quarter. Investec Asset Management LTD acquired a new stake in shares of Celgene Corporation during the first quarter valued at approximately $194,490,000. Clearbridge Investments LLC raised its stake in shares of Celgene Corporation by 24.1% in the first quarter. Clearbridge Investments LLC now owns 4,601,919 shares of the biopharmaceutical company’s stock valued at $572,617,000 after buying an additional 892,392 shares in the last quarter. Finally, State Street Corp raised its stake in shares of Celgene Corporation by 2.3% in the first quarter. State Street Corp now owns 32,473,417 shares of the biopharmaceutical company’s stock valued at $4,040,668,000 after buying an additional 723,844 shares in the last quarter. Hedge funds and other institutional investors own 78.39% of the company’s stock.
Celgene Corporation (NASDAQ CELG) traded up 0.29% on Friday, reaching $136.29. 847,469 shares of the company’s stock were exchanged. The company has a market cap of $106.63 billion, a P/E ratio of 42.21 and a beta of 1.89. The firm has a 50 day moving average of $132.00 and a 200-day moving average of $123.32. Celgene Corporation has a 12-month low of $96.93 and a 12-month high of $139.00.
Celgene Corporation (NASDAQ:CELG) last released its quarterly earnings results on Thursday, July 27th. The biopharmaceutical company reported $1.82 EPS for the quarter, beating the consensus estimate of $1.61 by $0.21. The business had revenue of $3.27 billion for the quarter, compared to analyst estimates of $3.23 billion. Celgene Corporation had a net margin of 21.35% and a return on equity of 68.51%. The company’s quarterly revenue was up 18.7% on a year-over-year basis. During the same period in the prior year, the business earned $1.44 earnings per share. Equities analysts expect that Celgene Corporation will post $7.32 EPS for the current fiscal year.
Several analysts have recently commented on CELG shares. Leerink Swann upgraded Celgene Corporation from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $94.42 to $150.00 in a report on Friday, June 16th. They noted that the move was a valuation call. Goldman Sachs Group, Inc. (The) restated a “sell” rating and issued a $98.00 target price (up previously from $93.00) on shares of Celgene Corporation in a research note on Wednesday, May 17th. William Blair restated an “outperform” rating on shares of Celgene Corporation in a research note on Monday, June 26th. BTIG Research lowered Celgene Corporation from a “buy” rating to a “neutral” rating and raised their target price for the stock from $96.93 to $131.70 in a research note on Friday, June 30th. Finally, Canaccord Genuity set a $156.00 target price on Celgene Corporation and gave the stock a “buy” rating in a research note on Monday, May 22nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-three have issued a buy rating to the company. Celgene Corporation presently has an average rating of “Buy” and a consensus target price of $147.06.
In related news, Director Michael D. Casey sold 9,250 shares of the firm’s stock in a transaction that occurred on Monday, June 19th. The shares were sold at an average price of $125.59, for a total transaction of $1,161,707.50. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Rupert Vessey sold 4,785 shares of the firm’s stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $120.18, for a total transaction of $575,061.30. Following the sale, the insider now owns 4,004 shares in the company, valued at approximately $481,200.72. The disclosure for this sale can be found here. Insiders sold 235,255 shares of company stock worth $31,377,042 over the last quarter. Company insiders own 0.95% of the company’s stock.
Celgene Corporation Company Profile
Celgene Corporation is an integrated global biopharmaceutical company. The Company, together with its subsidiaries, is engaged in the discovery, development and commercialization of therapies for the treatment of cancer and inflammatory diseases through solutions in protein homeostasis, immuno-oncology, epigenetics, immunology and neuro-inflammation.
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