First National Bank of Omaha decreased its holdings in Celgene Co. (NASDAQ:CELG) by 1.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 100,345 shares of the biopharmaceutical company’s stock after selling 1,280 shares during the period. First National Bank of Omaha’s holdings in Celgene were worth $10,593,000 at the end of the most recent quarter.
Other large investors have also added to or reduced their stakes in the company. Arcadia Investment Management Corp MI increased its stake 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 during the period. Thompson Davis & CO. Inc. increased its stake 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 during the period. Robecosam AG bought a new position in shares of Celgene during the third quarter worth approximately $114,000. Capital Bank & Trust Co increased its stake 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 during the period. Finally, Guidant Wealth Advisors bought a new position in shares of Celgene during the third quarter worth approximately $119,000. Hedge funds and other institutional investors own 78.67% of the company’s stock.
Shares of Celgene Co. (NASDAQ:CELG) opened at $91.56 on Wednesday. The firm has a market capitalization of $69,410.77, a price-to-earnings ratio of 13.45, a price-to-earnings-growth ratio of 0.65 and a beta of 1.58. Celgene Co. has a twelve month low of $86.55 and a twelve month high of $147.17. 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 announced that its board has authorized a stock buyback plan on Wednesday, February 14th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the biopharmaceutical company to reacquire shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its stock is undervalued.
In other Celgene news, insider Mark J. Alles bought 3,260 shares of Celgene stock in a transaction on Thursday, February 8th. The shares were purchased at an average price of $91.90 per share, with a total value of $299,594.00. Following the acquisition, the insider now owns 178,904 shares in the company, valued at approximately $16,441,277.60. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Ernest Mario sold 13,370 shares of the firm’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $94.49, for a total value of $1,263,331.30. The disclosure for this sale can be found here. In the last ninety days, insiders sold 41,120 shares of company stock worth $3,879,509. Company insiders own 0.95% of the company’s stock.
A number of equities analysts have recently weighed in on CELG shares. BMO Capital Markets increased their target price on Celgene from $148.00 to $155.00 and gave the stock an “outperform” rating in a research note on Friday, November 17th. Cantor Fitzgerald set a $112.00 target price on Celgene and gave the stock a “hold” rating in a research note on Wednesday, January 17th. William Blair reiterated a “buy” rating on shares of Celgene in a research note on Wednesday, February 28th. Credit Suisse Group set a $129.00 target price on Celgene and gave the stock a “buy” rating in a research note on Thursday, March 1st. Finally, Stifel Nicolaus set a $130.00 target price on Celgene and gave the stock a “buy” rating in a research note on Monday, January 8th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $128.22.
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Celgene Company Profile
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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