Meag Munich Ergo Kapitalanlagegesellschaft MBH boosted its stake in Celgene Co. (NASDAQ:CELG) by 285.4% in the 4th quarter, Holdings Channel reports. The firm owned 85,188 shares of the biopharmaceutical company’s stock after purchasing an additional 63,084 shares during the period. Meag Munich Ergo Kapitalanlagegesellschaft MBH’s holdings in Celgene were worth $8,976,000 at the end of the most recent quarter.
A number of other institutional investors also recently bought and sold shares of the stock. LSV Asset Management acquired a new position in shares of Celgene in the second quarter worth $1,701,000. Spectrum Management Group Inc. acquired a new position in shares of Celgene in the second quarter worth $462,000. Polen Capital Management LLC grew its stake in shares of Celgene by 7.7% in the second quarter. Polen Capital Management LLC now owns 5,082,991 shares of the biopharmaceutical company’s stock worth $660,128,000 after acquiring an additional 363,108 shares in the last quarter. BlackRock Inc. grew its stake in shares of Celgene by 5.7% in the second quarter. BlackRock Inc. now owns 56,725,342 shares of the biopharmaceutical company’s stock worth $7,366,919,000 after acquiring an additional 3,084,227 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of Celgene by 3.1% in the second quarter. Vanguard Group Inc. now owns 53,527,210 shares of the biopharmaceutical company’s stock worth $6,951,579,000 after acquiring an additional 1,610,056 shares in the last quarter. Hedge funds and other institutional investors own 77.84% of the company’s stock.
In related news, Director Gilla Kaplan sold 9,250 shares of the business’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $95.99, for a total value of $887,907.50. Following the completion of the sale, the director now directly owns 94,801 shares of the company’s stock, valued at $9,099,947.99. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Mark J. Alles purchased 3,260 shares of Celgene stock in a transaction that occurred on Thursday, February 8th. The stock was bought at an average cost of $91.90 per share, with a total value of $299,594.00. Following the completion of the transaction, 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. 0.95% of the stock is owned by insiders.
Shares of Celgene Co. (NASDAQ:CELG) opened at $95.61 on Monday. Celgene Co. has a 1 year low of $88.32 and a 1 year high of $147.17. The firm has a market cap of $71,915.51, a price-to-earnings ratio of 26.71, a P/E/G ratio of 0.67 and a beta of 1.49. The company has a quick ratio of 4.80, a current ratio of 4.99 and a debt-to-equity ratio of 2.29.
Celgene (NASDAQ:CELG) last announced its quarterly earnings results on Thursday, January 25th. The biopharmaceutical company reported $1.87 earnings per share for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $3.46 billion. During the same period in the previous year, the company earned $1.61 earnings per share. Celgene’s quarterly revenue was up 16.9% compared to the same quarter last year. equities analysts predict that Celgene Co. will post 7.68 EPS for the current year.
Celgene announced that its Board of Directors has authorized a share repurchase plan on Wednesday, February 14th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the biopharmaceutical company to purchase shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.
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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