Lockheed Martin Investment Management Co. Cuts Position in Celgene Co. (CELG)

Lockheed Martin Investment Management Co. trimmed its holdings in shares of Celgene Co. (NASDAQ:CELG) by 49.4% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 7,080 shares of the biopharmaceutical company’s stock after selling 6,920 shares during the quarter. Lockheed Martin Investment Management Co.’s holdings in Celgene were worth $739,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Janus Henderson Group PLC grew its holdings in Celgene by 4,290.5% in the second quarter. Janus Henderson Group PLC now owns 8,408,961 shares of the biopharmaceutical company’s stock worth $1,092,071,000 after purchasing an additional 8,217,433 shares during the last quarter. BlackRock Inc. grew its holdings in Celgene by 5.7% in the second quarter. BlackRock Inc. now owns 56,725,342 shares of the biopharmaceutical company’s stock worth $7,366,919,000 after purchasing an additional 3,084,227 shares during the last quarter. Oaktop Capital Management II L.P. purchased a new position in Celgene in the second quarter worth $271,605,000. Arrowstreet Capital Limited Partnership grew its holdings in Celgene by 1,489.2% in the second quarter. Arrowstreet Capital Limited Partnership now owns 1,907,052 shares of the biopharmaceutical company’s stock worth $247,669,000 after purchasing an additional 1,787,052 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in Celgene by 3.1% in the second quarter. Vanguard Group Inc. now owns 53,527,210 shares of the biopharmaceutical company’s stock worth $6,951,579,000 after purchasing an additional 1,610,056 shares during the last quarter. 78.10% of the stock is currently owned by institutional investors.

Several equities analysts have issued reports on the stock. Cann reaffirmed a “buy” rating and issued a $163.00 price target on shares of Celgene in a report on Thursday. Barclays raised shares of Celgene from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $91.51 to $105.00 in a report on Tuesday, February 13th. Mizuho reaffirmed a “buy” rating and issued a $128.00 price target on shares of Celgene in a report on Sunday, February 4th. Zacks Investment Research raised shares of Celgene from a “sell” rating to a “hold” rating in a report on Wednesday, January 31st. Finally, Cantor Fitzgerald reaffirmed a “hold” rating and issued a $112.00 price target on shares of Celgene in a report on Monday, January 29th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. Celgene presently has an average rating of “Buy” and a consensus target price of $130.25.

In other Celgene news, insider Mark J. Alles bought 3,260 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The stock was bought at an average cost of $91.90 per share, for a total transaction of $299,594.00. Following the completion of the transaction, the insider now directly owns 178,904 shares of the company’s stock, valued at approximately $16,441,277.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.95% of the company’s stock.

Celgene Co. (NASDAQ:CELG) opened at $95.26 on Friday. The stock has a market cap of $71,652.29, a price-to-earnings ratio of 13.89, a P/E/G ratio of 0.67 and a beta of 1.49. Celgene Co. has a 1 year low of $88.32 and a 1 year high of $147.17. The company has a current ratio of 4.99, a quick ratio of 4.80 and a debt-to-equity ratio of 2.29.

Celgene (NASDAQ:CELG) last posted its earnings results on Thursday, January 25th. The biopharmaceutical company reported $1.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.78 by $0.09. The company had revenue of $3.48 billion during the quarter, compared to the consensus estimate of $3.46 billion. Celgene had a net margin of 22.38% and a return on equity of 67.50%. The firm’s quarterly revenue was up 16.9% on a year-over-year basis. During the same period in the previous year, the firm posted $1.61 earnings per share. equities analysts anticipate that Celgene Co. will post 7.68 EPS for the current fiscal year.

Celgene declared that its board has initiated a share repurchase plan on Wednesday, February 14th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the biopharmaceutical company to repurchase shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its stock is undervalued.

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About Celgene

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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Institutional Ownership by Quarter for Celgene (NASDAQ:CELG)

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