Celgene Co. (CELG) Holdings Lessened by State Farm Mutual Automobile Insurance Co.

State Farm Mutual Automobile Insurance Co. trimmed its holdings in Celgene Co. (NASDAQ:CELG) by 0.9% during the fourth quarter, HoldingsChannel reports. The firm owned 2,779,234 shares of the biopharmaceutical company’s stock after selling 24,166 shares during the period. State Farm Mutual Automobile Insurance Co.’s holdings in Celgene were worth $290,041,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Arcadia Investment Management Corp MI raised its position in shares of Celgene by 118.7% during the 3rd quarter. Arcadia Investment Management Corp MI now owns 737 shares of the biopharmaceutical company’s stock valued at $107,000 after acquiring an additional 400 shares in the last quarter. Robecosam AG acquired a new stake in shares of Celgene during the 3rd quarter valued at approximately $114,000. Capital Bank & Trust Co raised its position in shares of Celgene by 166.8% during the 3rd quarter. Capital Bank & Trust Co now owns 827 shares of the biopharmaceutical company’s stock valued at $121,000 after acquiring an additional 517 shares in the last quarter. Guidant Wealth Advisors acquired a new stake in shares of Celgene during the 3rd quarter valued at approximately $119,000. Finally, Balentine LLC raised its position in shares of Celgene by 83.5% during the 2nd quarter. Balentine LLC now owns 1,057 shares of the biopharmaceutical company’s stock valued at $137,000 after acquiring an additional 481 shares in the last quarter. 78.63% of the stock is currently owned by institutional investors.

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In other news, insider Mark J. Alles bought 3,260 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The stock was acquired at an average price of $91.90 per share, with a total value of $299,594.00. Following the completion of the purchase, the insider now directly owns 178,904 shares of the company’s stock, valued at approximately $16,441,277.60. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Director Gilla Kaplan sold 9,250 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $94.83, for a total value of $877,177.50. Following the transaction, the director now directly owns 94,801 shares of the company’s stock, valued at approximately $8,989,978.83. The disclosure for this sale can be found here. Insiders have sold 41,120 shares of company stock valued at $3,879,509 in the last ninety days. Company insiders own 0.95% of the company’s stock.

Several research firms recently issued reports on CELG. Vetr raised Celgene from a “buy” rating to a “strong-buy” rating and set a $116.84 price target on the stock in a research report on Thursday, January 25th. Mizuho set a $128.00 price objective on Celgene and gave the stock a “buy” rating in a research note on Tuesday, December 26th. BTIG Research restated a “hold” rating on shares of Celgene in a research note on Tuesday, January 23rd. BidaskClub upgraded Celgene from a “sell” rating to a “hold” rating in a research note on Tuesday, December 12th. Finally, Citigroup restated a “hold” rating on shares of Celgene in a research note on Friday, December 22nd. Three analysts have rated the stock with a sell rating, twelve have given a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $127.68.

Shares of CELG stock opened at $86.95 on Friday. Celgene Co. has a fifty-two week low of $84.25 and a fifty-two week high of $147.17. The stock has a market cap of $66,823.28, a P/E ratio of 12.71, a PEG ratio of 0.59 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 earnings results on Thursday, January 25th. The biopharmaceutical company reported $1.87 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.78 by $0.09. Celgene had a return on equity of 67.50% and a net margin of 22.38%. The business had revenue of $3.48 billion during the quarter, compared to analysts’ expectations of $3.46 billion. During the same quarter last year, the business posted $1.61 earnings per share. The company’s quarterly revenue was up 16.9% on a year-over-year basis. sell-side analysts predict that Celgene Co. will post 7.66 EPS for the current fiscal year.

Celgene declared that its Board of Directors has authorized a stock buyback plan on Wednesday, February 14th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the biopharmaceutical company to reacquire shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

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About Celgene

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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Institutional Ownership by Quarter for Celgene (NASDAQ:CELG)

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