MU Investments Co. Ltd. cut its position in Celgene Corp. (NASDAQ:CELG) by 40.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,180 shares of the biopharmaceutical company’s stock after selling 800 shares during the period. MU Investments Co. Ltd.’s holdings in Celgene Corp. were worth $117,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of the company. American Century Companies Inc. increased its position in shares of Celgene Corp. by 9.4% in the second quarter. American Century Companies Inc. now owns 5,679,237 shares of the biopharmaceutical company’s stock worth $560,143,000 after buying an additional 488,176 shares during the period. Aviance Capital Management LLC increased its position in shares of Celgene Corp. by 21.5% in the second quarter. Aviance Capital Management LLC now owns 2,431 shares of the biopharmaceutical company’s stock worth $240,000 after buying an additional 430 shares during the period. Retirement Systems of Alabama increased its position in shares of Celgene Corp. by 0.3% in the second quarter. Retirement Systems of Alabama now owns 669,900 shares of the biopharmaceutical company’s stock worth $66,072,000 after buying an additional 1,851 shares during the period. Diversified Trust Co bought a new position in shares of Celgene Corp. during the second quarter worth $468,000. Finally, Headinvest LLC increased its position in shares of Celgene Corp. by 3.8% in the second quarter. Headinvest LLC now owns 21,400 shares of the biopharmaceutical company’s stock worth $2,111,000 after buying an additional 775 shares during the period. 77.75% of the stock is currently owned by institutional investors.
Shares of Celgene Corp. (NASDAQ:CELG) traded up 1.71% during trading on Friday, hitting $104.53. The stock had a trading volume of 4,666,676 shares. The stock has a 50-day moving average price of $108.51 and a 200 day moving average price of $105.29. Celgene Corp. has a 12 month low of $93.05 and a 12 month high of $128.39. The company has a market cap of $81.02 billion, a P/E ratio of 44.18 and a beta of 1.31.
Celgene Corp. (NASDAQ:CELG) last announced its earnings results on Thursday, July 28th. The biopharmaceutical company reported $1.44 EPS for the quarter, topping the Zacks’ consensus estimate of $1.39 by $0.05. The firm earned $2.74 billion during the quarter, compared to analysts’ expectations of $2.70 billion. Celgene Corp. had a return on equity of 67.06% and a net margin of 18.95%. The company’s quarterly revenue was up 20.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.23 EPS. Equities analysts expect that Celgene Corp. will post $5.71 EPS for the current fiscal year.
A number of brokerages recently weighed in on CELG. Piper Jaffray Cos. reissued an “overweight” rating and issued a $145.00 price target on shares of Celgene Corp. in a report on Sunday. Citigroup Inc. boosted their price objective on Celgene Corp. from $124.00 to $127.00 and gave the company a “buy” rating in a research note on Thursday. Vetr cut Celgene Corp. from a “strong-buy” rating to a “buy” rating and set a $122.94 price objective on the stock. in a research note on Thursday, September 22nd. Canaccord Genuity set a $156.00 price objective on Celgene Corp. and gave the company a “buy” rating in a research note on Sunday, September 18th. Finally, Bank of America Corp. restated a “buy” rating and issued a $128.00 price objective on shares of Celgene Corp. in a research note on Friday, September 16th. Four analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $138.08.
In related news, insider Robert J. Hugin sold 100,000 shares of the business’s stock in a transaction on Thursday, July 28th. The stock was sold at an average price of $110.00, for a total transaction of $11,000,000.00. Following the completion of the transaction, the insider now owns 1,022,201 shares in the company, valued at approximately $112,442,110. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Richard W. Barker sold 20,000 shares of the business’s stock in a transaction on Friday, September 23rd. The shares were sold at an average price of $110.82, for a total value of $2,216,400.00. Following the transaction, the director now owns 31,332 shares of the company’s stock, valued at approximately $3,472,212.24. The disclosure for this sale can be found here. Corporate insiders own 0.97% of the company’s stock.
About Celgene Corp.
Celgene Corporation (Celgene) is a biopharmaceutical company. The Company together with its subsidiaries is engaged primarily 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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