Elkfork Partners LLC Reduces Holdings in Celgene (CELG)

Elkfork Partners LLC decreased its holdings in shares of Celgene (NASDAQ:CELG) by 32.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 443,856 shares of the biopharmaceutical company’s stock after selling 211,348 shares during the period. Celgene makes up 1.6% of Elkfork Partners LLC’s holdings, making the stock its 7th largest position. Elkfork Partners LLC owned 0.06% of Celgene worth $46,321,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Jennison Associates LLC raised its position in shares of Celgene by 11.5% during the 3rd quarter. Jennison Associates LLC now owns 14,962,407 shares of the biopharmaceutical company’s stock valued at $2,181,818,000 after acquiring an additional 1,546,673 shares during the last quarter. Edgewood Management LLC raised its position in shares of Celgene by 0.9% during the 3rd quarter. Edgewood Management LLC now owns 10,556,896 shares of the biopharmaceutical company’s stock valued at $1,539,407,000 after acquiring an additional 98,943 shares during the last quarter. Janus Henderson Group PLC raised its position in shares of Celgene by 11.9% during the 3rd quarter. Janus Henderson Group PLC now owns 9,410,233 shares of the biopharmaceutical company’s stock valued at $1,372,196,000 after acquiring an additional 1,001,272 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Celgene by 4.3% during the 4th quarter. Geode Capital Management LLC now owns 8,308,096 shares of the biopharmaceutical company’s stock valued at $865,210,000 after acquiring an additional 343,340 shares during the last quarter. Finally, Clearbridge Investments LLC raised its position in shares of Celgene by 17.0% during the 4th quarter. Clearbridge Investments LLC now owns 6,316,829 shares of the biopharmaceutical company’s stock valued at $659,224,000 after acquiring an additional 916,173 shares during the last quarter. Institutional investors own 78.53% of the company’s stock.

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In other Celgene news, insider Mark J. Alles acquired 3,260 shares of Celgene stock in a transaction dated 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 purchase, the insider now directly owns 178,904 shares in the company, valued at approximately $16,441,277.60. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director James J. Loughlin sold 9,250 shares of the stock in a transaction dated Monday, March 12th. The stock was sold at an average price of $92.01, for a total transaction of $851,092.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 41,120 shares of company stock valued at $3,879,509. Company insiders own 0.95% of the company’s stock.



Celgene stock opened at $89.48 on Tuesday. Celgene has a one year low of $84.25 and a one year high of $147.17. The company has a debt-to-equity ratio of 2.29, a current ratio of 4.99 and a quick ratio of 4.80. The stock has a market cap of $66,906.02, a PE ratio of 13.08, a price-to-earnings-growth ratio of 0.59 and a beta of 1.48.

Celgene (NASDAQ:CELG) last posted its quarterly earnings data on Thursday, January 25th. The biopharmaceutical company reported $1.87 EPS for the quarter, topping the Zacks’ 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 company had revenue of $3.48 billion during the quarter, compared to the consensus estimate of $3.46 billion. During the same period in the prior year, the business posted $1.61 EPS. The company’s quarterly revenue was up 16.9% on a year-over-year basis. sell-side analysts expect that Celgene will post 7.69 earnings per share for the current fiscal year.

Celgene declared that its board has approved a share buyback program 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 programs are often an indication that the company’s board of directors believes its stock is undervalued.

A number of analysts recently commented on CELG shares. Zacks Investment Research upgraded shares of Celgene from a “sell” rating to a “hold” rating in a research report on Thursday, April 19th. Credit Suisse Group set a $129.00 price objective on shares of Celgene and gave the company a “buy” rating in a research report on Tuesday, April 17th. Morgan Stanley restated an “equal weight” rating and issued a $93.00 price objective on shares of Celgene in a research report on Friday, April 13th. ValuEngine cut shares of Celgene from a “hold” rating to a “sell” rating in a research report on Thursday, April 12th. Finally, Cantor Fitzgerald set a $112.00 price objective on shares of Celgene and gave the company a “hold” rating in a research report on Monday, April 2nd. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $126.95.

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About Celgene

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.

Institutional Ownership by Quarter for Celgene (NASDAQ:CELG)

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