Regent Investment Management LLC trimmed its holdings in shares of Celgene Co. (NASDAQ:CELG) by 8.1% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 50,063 shares of the biopharmaceutical company’s stock after selling 4,431 shares during the quarter. Celgene accounts for about 1.7% of Regent Investment Management LLC’s investment portfolio, making the stock its 12th largest holding. Regent Investment Management LLC’s holdings in Celgene were worth $5,225,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Thompson Davis & CO. Inc. lifted its position in shares of Celgene by 5.9% during the second quarter. Thompson Davis & CO. Inc. now owns 773 shares of the biopharmaceutical company’s stock worth $100,000 after purchasing an additional 43 shares in the last quarter. Arcadia Investment Management Corp MI lifted its position in shares of Celgene by 118.7% during the third quarter. Arcadia Investment Management Corp MI now owns 737 shares of the biopharmaceutical company’s stock worth $107,000 after purchasing an additional 400 shares in the last quarter. Robecosam AG acquired a new position in shares of Celgene during the third quarter worth $114,000. Guidant Wealth Advisors acquired a new position in shares of Celgene during the third quarter worth $119,000. Finally, Capital Bank & Trust Co lifted its position in shares of Celgene by 166.8% during the third quarter. Capital Bank & Trust Co now owns 827 shares of the biopharmaceutical company’s stock worth $121,000 after purchasing an additional 517 shares in the last quarter. 77.84% of the stock is currently owned by hedge funds and other institutional investors.
CELG has been the topic of a number of recent research reports. Cantor Fitzgerald reissued a “hold” rating and set a $112.00 target price on shares of Celgene in a research report on Monday, October 30th. Oppenheimer reissued a “buy” rating and set a $166.00 target price (up from $163.00) on shares of Celgene in a research report on Monday, October 30th. Mizuho reissued a “buy” rating on shares of Celgene in a research report on Friday, November 3rd. Canaccord Genuity set a $140.00 target price on shares of Celgene and gave the stock a “buy” rating in a research report on Thursday, November 16th. Finally, BMO Capital Markets boosted 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. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the company. Celgene has an average rating of “Buy” and an average price target of $130.25.
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 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 firm had revenue of $3.48 billion during the quarter, compared to analyst estimates of $3.46 billion. During the same quarter in the previous year, the firm earned $1.61 earnings per share. The firm’s revenue for the quarter was up 16.9% compared to the same quarter last year. equities research analysts forecast that Celgene Co. will post 7.68 EPS for the current year.
Celgene declared that its board has approved a stock repurchase program on Wednesday, February 14th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the biopharmaceutical company to buy shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.
In other news, Director Ernest Mario sold 13,370 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $94.49, for a total transaction of $1,263,331.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Gilla Kaplan sold 9,250 shares of the company’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $95.99, for a total transaction of $887,907.50. Following the transaction, the director now owns 94,801 shares of the company’s stock, valued at approximately $9,099,947.99. The disclosure for this sale can be found here. In the last quarter, insiders have sold 31,870 shares of company stock valued at $3,028,416. 0.95% of the stock is owned by insiders.
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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