Advisory Services Network LLC boosted its position in Celgene Co. (NASDAQ:CELG) by 3.5% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 44,293 shares of the biopharmaceutical company’s stock after acquiring an additional 1,513 shares during the quarter. Advisory Services Network LLC’s holdings in Celgene were worth $4,622,000 as of its most recent SEC filing.
Other hedge funds have also recently modified their holdings of the company. Arcadia Investment Management Corp MI lifted its holdings in Celgene by 118.7% in the 3rd quarter. Arcadia Investment Management Corp MI now owns 737 shares of the biopharmaceutical company’s stock worth $107,000 after buying an additional 400 shares in the last quarter. Robecosam AG acquired a new position in Celgene in the 3rd quarter worth $114,000. Guidant Wealth Advisors acquired a new position in Celgene in the 3rd quarter worth $119,000. Capital Bank & Trust Co lifted its holdings in Celgene by 166.8% in the 3rd quarter. Capital Bank & Trust Co now owns 827 shares of the biopharmaceutical company’s stock worth $121,000 after buying an additional 517 shares in the last quarter. Finally, Fusion Family Wealth LLC acquired a new position in Celgene in the 4th quarter worth $136,000. Hedge funds and other institutional investors own 78.60% of the company’s stock.
In other news, insider Mark J. Alles bought 3,260 shares of the firm’s stock in a transaction on Thursday, February 8th. The stock was purchased at an average price of $91.90 per share, for a total transaction of $299,594.00. Following the transaction, the insider now owns 178,904 shares in the company, valued at $16,441,277.60. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through 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 completion of 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 90 days, insiders sold 41,120 shares of company stock valued at $3,879,509. 0.95% of the stock is owned by insiders.
Celgene (NASDAQ:CELG) last posted its earnings results on Thursday, January 25th. The biopharmaceutical company reported $1.87 EPS for the quarter, topping 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 analysts’ expectations of $3.46 billion. During the same quarter in the prior year, the firm earned $1.61 EPS. Celgene’s quarterly revenue was up 16.9% on a year-over-year basis. sell-side analysts forecast that Celgene Co. will post 7.66 earnings per share for the current year.
Celgene declared that its board has approved a stock repurchase program on Wednesday, February 14th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the biopharmaceutical company to reacquire shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its shares are undervalued.
A number of equities analysts have commented on the stock. Cantor Fitzgerald set a $112.00 price objective on shares of Celgene and gave the stock a “hold” rating in a report on Tuesday, January 23rd. Deutsche Bank initiated coverage on shares of Celgene in a research note on Tuesday, December 12th. They issued a “hold” rating and a $114.00 target price on the stock. Robert W. Baird restated a “hold” rating and issued a $92.00 target price on shares of Celgene in a research note on Thursday, March 1st. SunTrust Banks set a $127.00 target price on shares of Celgene and gave the company a “buy” rating in a research note on Monday, January 8th. Finally, Zacks Investment Research upgraded shares of Celgene from a “sell” rating to a “hold” rating in a research note on Wednesday, January 31st. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company’s stock. Celgene presently has an average rating of “Buy” and an average price target of $127.78.
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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