Steward Partners Investment Advisory LLC Acquires 7,140 Shares of Celgene Co. (CELG)

Steward Partners Investment Advisory LLC increased its holdings in shares of Celgene Co. (NASDAQ:CELG) by 33.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 28,741 shares of the biopharmaceutical company’s stock after buying an additional 7,140 shares during the period. Steward Partners Investment Advisory LLC’s holdings in Celgene were worth $2,999,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CELG. RiverPoint Capital Management LLC boosted its holdings in shares of Celgene by 3.1% in the 2nd quarter. RiverPoint Capital Management LLC now owns 121,654 shares of the biopharmaceutical company’s stock valued at $15,799,000 after buying an additional 3,680 shares in the last quarter. LSV Asset Management acquired a new stake in Celgene during the 2nd quarter worth $1,701,000. Spectrum Management Group Inc. acquired a new stake in Celgene during the 2nd quarter worth $462,000. Polen Capital Management LLC boosted its stake in Celgene by 7.7% during the 2nd quarter. Polen Capital Management LLC now owns 5,082,991 shares of the biopharmaceutical company’s stock worth $660,128,000 after purchasing an additional 363,108 shares during the period. Finally, BlackRock Inc. boosted its stake in Celgene by 5.7% during the 2nd 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 period. Institutional investors own 77.84% of the company’s stock.

In other Celgene news, insider Mark J. Alles bought 3,260 shares of the company’s stock in a transaction on Thursday, February 8th. The stock was purchased at an average cost of $91.90 per share, for a total transaction of $299,594.00. Following the acquisition, the insider now owns 178,904 shares of the company’s stock, valued at approximately $16,441,277.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.95% of the company’s stock.

CELG has been the subject of a number of recent research reports. Sanford C. Bernstein cut shares of Celgene from an “outperform” rating to a “market perform” rating and set a $121.00 price target for the company. in a research note on Wednesday, December 27th. Cantor Fitzgerald reiterated a “hold” rating and set a $112.00 price target on shares of Celgene in a research note on Monday, October 30th. Vetr upgraded shares of Celgene from a “buy” rating to a “strong-buy” rating and set a $144.39 price target for the company in a research note on Monday, October 23rd. Oppenheimer set a $166.00 price target on shares of Celgene and gave the stock a “buy” rating in a research note on Thursday, November 16th. Finally, BMO Capital Markets increased their price target on shares of Celgene from $148.00 to $155.00 and gave the stock an “outperform” rating in a research note on Friday, November 17th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $130.25.

Celgene Co. (NASDAQ CELG) opened at $95.26 on Tuesday. 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 Co. has a twelve month low of $88.32 and a twelve month high of $147.17. The firm has a market cap of $71,650.00, a PE ratio of 18.14, a price-to-earnings-growth ratio of 0.67 and a beta of 1.49.

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

Celgene announced that its board has initiated a stock buyback program on Wednesday, February 14th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the biopharmaceutical company to purchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are 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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