Steward Partners Investment Advisory LLC grew its stake in shares of Celgene Co. (NASDAQ:CELG) by 33.1% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 28,741 shares of the biopharmaceutical company’s stock after acquiring 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 reporting period.
Several other large investors also recently made changes to their positions in the company. Beach Investment Management LLC. lifted its holdings in shares of Celgene by 1,935.3% in the second quarter. Beach Investment Management LLC. now owns 126,188 shares of the biopharmaceutical company’s stock valued at $16,388,000 after purchasing an additional 119,988 shares in the last quarter. Adell Harriman & Carpenter Inc. increased its stake in shares of Celgene by 1.7% in the second quarter. Adell Harriman & Carpenter Inc. now owns 28,244 shares of the biopharmaceutical company’s stock worth $3,668,000 after acquiring an additional 465 shares during the last quarter. Marshall Wace North America L.P. increased its stake in shares of Celgene by 360.5% in the second quarter. Marshall Wace North America L.P. now owns 178,987 shares of the biopharmaceutical company’s stock worth $23,268,000 after acquiring an additional 140,116 shares during the last quarter. Global Thematic Partners LLC increased its stake in shares of Celgene by 18.5% in the second quarter. Global Thematic Partners LLC now owns 531,268 shares of the biopharmaceutical company’s stock worth $68,995,000 after acquiring an additional 83,017 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System increased its stake in shares of Celgene by 0.8% in the second quarter. State Board of Administration of Florida Retirement System now owns 1,139,568 shares of the biopharmaceutical company’s stock worth $147,996,000 after acquiring an additional 9,401 shares during the last quarter. Institutional investors own 78.67% of the company’s stock.
Several equities analysts have commented on CELG shares. BMO Capital Markets increased their target price on shares of Celgene from $148.00 to $155.00 and gave the stock an “outperform” rating in a research report on Friday, November 17th. Cantor Fitzgerald set a $112.00 target price on shares of Celgene and gave the stock a “hold” rating in a research report on Wednesday, January 17th. William Blair restated a “buy” rating on shares of Celgene in a report on Wednesday, February 28th. Credit Suisse Group set a $129.00 price target on shares of Celgene and gave the company a “buy” rating in a report on Thursday, March 1st. Finally, Stifel Nicolaus set a $130.00 price target on shares of Celgene and gave the company a “buy” rating in a report on Monday, January 8th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $128.22.
Celgene (NASDAQ:CELG) last released 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 business had revenue of $3.48 billion during the quarter, compared to analysts’ expectations of $3.46 billion. During the same quarter last year, the company earned $1.61 earnings per share. The firm’s revenue was up 16.9% on a year-over-year basis. sell-side analysts predict that Celgene Co. will post 7.66 earnings per share for the current year.
Celgene declared that its Board of Directors has approved a share repurchase program on Wednesday, February 14th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the biopharmaceutical company to buy shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
In other Celgene news, Director Gilla Kaplan sold 9,250 shares of the firm’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $95.99, for a total transaction of $887,907.50. Following the completion of the transaction, the director now owns 94,801 shares in the company, valued at $9,099,947.99. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Mark J. Alles purchased 3,260 shares of the business’s stock in a transaction on Thursday, February 8th. The shares were acquired at an average price of $91.90 per share, with a total value of $299,594.00. Following the purchase, the insider now owns 178,904 shares of the company’s stock, valued at $16,441,277.60. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 41,120 shares of company stock valued at $3,879,509. Corporate insiders own 0.95% of the company’s stock.
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Celgene 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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