State Board of Administration of Florida Retirement System lowered its stake in Celgene Corporation (NASDAQ:CELG) by 0.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,130,167 shares of the biopharmaceutical company’s stock after selling 2,275 shares during the period. State Board of Administration of Florida Retirement System owned approximately 0.15% of Celgene Corporation worth $140,627,000 as of its most recent filing with the SEC.
Several other hedge funds also recently added to or reduced their stakes in the company. Prudential PLC raised its stake in Celgene Corporation by 182.4% in the fourth quarter. Prudential PLC now owns 157,836 shares of the biopharmaceutical company’s stock valued at $18,270,000 after buying an additional 101,947 shares during the period. Abbrea Capital LLC acquired a new stake in Celgene Corporation during the fourth quarter valued at $615,000. Van ECK Associates Corp raised its stake in Celgene Corporation by 5.9% in the fourth quarter. Van ECK Associates Corp now owns 568,152 shares of the biopharmaceutical company’s stock valued at $65,764,000 after buying an additional 31,419 shares during the period. State Street Corp increased its position in Celgene Corporation by 3.0% in the fourth quarter. State Street Corp now owns 31,749,573 shares of the biopharmaceutical company’s stock valued at $3,675,047,000 after buying an additional 914,121 shares in the last quarter. Finally, Artisan Partners Limited Partnership increased its position in Celgene Corporation by 4.2% in the fourth quarter. Artisan Partners Limited Partnership now owns 268,128 shares of the biopharmaceutical company’s stock valued at $31,036,000 after buying an additional 10,799 shares in the last quarter. 78.16% of the stock is currently owned by institutional investors.
Celgene Corporation (NASDAQ:CELG) opened at 134.87 on Tuesday. The stock has a market capitalization of $105.31 billion, a PE ratio of 50.65 and a beta of 1.89. Celgene Corporation has a 52-week low of $96.93 and a 52-week high of $136.12. The company’s 50-day moving average price is $121.46 and its 200 day moving average price is $120.59.
Celgene Corporation (NASDAQ:CELG) last released its quarterly earnings data on Thursday, April 27th. The biopharmaceutical company reported $1.68 EPS for the quarter, beating the Zacks’ consensus estimate of $1.47 by $0.21. The company had revenue of $2.96 billion during the quarter, compared to the consensus estimate of $3.04 billion. Celgene Corporation had a net margin of 18.32% and a return on equity of 70.94%. Celgene Corporation’s quarterly revenue was up 17.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.32 EPS. Equities analysts forecast that Celgene Corporation will post $7.28 EPS for the current fiscal year.
CELG has been the subject of several research reports. Leerink Swann upgraded Celgene Corporation from a “market perform” rating to an “outperform” rating and increased their target price for the company from $94.42 to $150.00 in a research report on Friday, June 16th. They noted that the move was a valuation call. Goldman Sachs Group, Inc. (The) restated a “sell” rating and set a $98.00 price objective (up from $93.00) on shares of Celgene Corporation in a research report on Wednesday, May 17th. William Blair restated an “outperform” rating on shares of Celgene Corporation in a research report on Monday, June 26th. Canaccord Genuity set a $156.00 price objective on Celgene Corporation and gave the stock a “buy” rating in a research report on Monday, May 22nd. Finally, BidaskClub upgraded Celgene Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, June 21st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-two have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $141.00.
In other news, insider Robert J. Hugin sold 175,970 shares of the firm’s stock in a transaction that occurred on Thursday, June 22nd. The shares were sold at an average price of $134.14, for a total transaction of $23,604,615.80. Following the completion of the sale, the insider now owns 1,033,909 shares in the company, valued at approximately $138,688,553.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James J. Loughlin sold 18,500 shares of the firm’s stock in a transaction that occurred on Monday, June 26th. The stock was sold at an average price of $133.57, for a total transaction of $2,471,045.00. Following the sale, the director now owns 32,877 shares of the company’s stock, valued at approximately $4,391,380.89. The disclosure for this sale can be found here. In the last quarter, insiders sold 237,005 shares of company stock valued at $31,515,142. 0.95% of the stock is owned by insiders.
About Celgene Corporation
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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