Tredje AP fonden reduced its stake in Celgene Corporation (NASDAQ:CELG) by 2.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 131,527 shares of the biopharmaceutical company’s stock after selling 2,670 shares during the period. Celgene Corporation accounts for 0.6% of Tredje AP fonden’s holdings, making the stock its 26th largest position. Tredje AP fonden’s holdings in Celgene Corporation were worth $16,366,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently modified their holdings of CELG. Motco raised its stake in shares of Celgene Corporation by 306.9% in the first quarter. Motco now owns 822 shares of the biopharmaceutical company’s stock worth $102,000 after buying an additional 620 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Celgene Corporation during the first quarter worth approximately $118,000. Carroll Financial Associates Inc. raised its stake in shares of Celgene Corporation by 70.9% in the first quarter. Carroll Financial Associates Inc. now owns 964 shares of the biopharmaceutical company’s stock worth $119,000 after buying an additional 400 shares in the last quarter. Oakworth Capital Inc. raised its stake in shares of Celgene Corporation by 60.9% in the first quarter. Oakworth Capital Inc. now owns 1,089 shares of the biopharmaceutical company’s stock worth $136,000 after buying an additional 412 shares in the last quarter. Finally, Mitsubishi UFJ Securities Holdings Co. Ltd. increased its position in shares of Celgene Corporation by 47.5% in the first quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 1,180 shares of the biopharmaceutical company’s stock worth $147,000 after buying an additional 380 shares during the last quarter. 78.34% of the stock is owned by institutional investors and hedge funds.
Celgene Corporation (NASDAQ:CELG) opened at 127.65 on Friday. Celgene Corporation has a 52 week low of $96.93 and a 52 week high of $139.00. The company has a market cap of $99.87 billion, a P/E ratio of 39.53 and a beta of 1.89. The firm’s 50 day moving average is $133.74 and its 200-day moving average is $124.92.
Celgene Corporation (NASDAQ:CELG) last posted its quarterly earnings results on Thursday, July 27th. The biopharmaceutical company reported $1.82 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.61 by $0.21. Celgene Corporation had a net margin of 21.35% and a return on equity of 68.51%. The business had revenue of $3.27 billion for the quarter, compared to analysts’ expectations of $3.23 billion. During the same period in the prior year, the company posted $1.44 EPS. The business’s revenue for the quarter was up 18.7% on a year-over-year basis. On average, analysts predict that Celgene Corporation will post $7.32 earnings per share for the current fiscal year.
Several equities analysts recently commented on CELG shares. Jefferies Group LLC set a $154.00 price objective on Celgene Corporation and gave the company a “buy” rating in a research note on Saturday, May 13th. BTIG Research downgraded Celgene Corporation from a “buy” rating to a “neutral” rating and upped their price objective for the company from $96.93 to $131.70 in a research note on Friday, June 30th. Vetr upgraded Celgene Corporation from a “buy” rating to a “strong-buy” rating and set a $148.32 price objective on the stock in a research note on Thursday, August 10th. Robert W. Baird reiterated an “outperform” rating and issued a $162.00 price objective on shares of Celgene Corporation in a research note on Monday, May 22nd. Finally, SunTrust Banks, Inc. set a $150.00 target price on shares of Celgene Corporation and gave the company a “buy” rating in a report on Thursday, July 6th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $147.00.
In related news, Director Ernest Mario sold 18,506 shares of the business’s stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $130.52, for a total value of $2,415,403.12. Following the sale, the director now directly owns 69,424 shares in the company, valued at approximately $9,061,220.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Robert J. Hugin sold 175,970 shares of the business’s stock in a transaction dated Thursday, June 22nd. The stock was sold at an average price of $134.14, for a total transaction of $23,604,615.80. Following the completion of the sale, the insider now owns 1,033,909 shares in the company, valued at $138,688,553.26. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 253,761 shares of company stock worth $33,792,445. Corporate insiders own 0.95% of the company’s stock.
About Celgene Corporation
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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