Meeder Asset Management Inc. lifted its position in Celgene Co. (NASDAQ:CELG) by 92.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 59,266 shares of the biopharmaceutical company’s stock after acquiring an additional 28,450 shares during the quarter. Meeder Asset Management Inc.’s holdings in Celgene were worth $5,591,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in CELG. Oregon Public Employees Retirement Fund lifted its holdings in shares of Celgene by 9,691.4% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 16,495,997 shares of the biopharmaceutical company’s stock worth $257,000 after purchasing an additional 16,327,522 shares during the last quarter. Norges Bank bought a new stake in shares of Celgene in the 4th quarter worth approximately $484,390,000. Parnassus Investments CA lifted its holdings in shares of Celgene by 1,766.7% in the 4th quarter. Parnassus Investments CA now owns 2,800,000 shares of the biopharmaceutical company’s stock worth $179,452,000 after purchasing an additional 2,650,000 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Celgene by 2.8% in the 4th quarter. BlackRock Inc. now owns 53,650,909 shares of the biopharmaceutical company’s stock worth $3,438,486,000 after purchasing an additional 1,459,100 shares during the last quarter. Finally, AQR Capital Management LLC lifted its holdings in shares of Celgene by 38.8% in the 3rd quarter. AQR Capital Management LLC now owns 4,090,345 shares of the biopharmaceutical company’s stock worth $366,044,000 after purchasing an additional 1,143,027 shares during the last quarter. 74.81% of the stock is currently owned by institutional investors and hedge funds.
In other news, Director James J. Loughlin sold 23,466 shares of the business’s stock in a transaction on Thursday, February 7th. The stock was sold at an average price of $87.29, for a total value of $2,048,347.14. Following the sale, the director now owns 62,102 shares of the company’s stock, valued at approximately $5,420,883.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ernest Mario acquired 2,000 shares of the company’s stock in a transaction dated Tuesday, February 12th. The stock was purchased at an average cost of $89.99 per share, for a total transaction of $179,980.00. The disclosure for this purchase can be found here. 0.39% of the stock is owned by insiders.
Shares of Celgene stock opened at $94.55 on Wednesday. The company has a debt-to-equity ratio of 3.21, a quick ratio of 2.12 and a current ratio of 2.23. The firm has a market cap of $66.80 billion, a price-to-earnings ratio of 12.42, a price-to-earnings-growth ratio of 0.43 and a beta of 1.71. Celgene Co. has a 1-year low of $58.59 and a 1-year high of $95.44.
Celgene (NASDAQ:CELG) last announced its earnings results on Thursday, January 31st. The biopharmaceutical company reported $2.39 earnings per share for the quarter, beating the consensus estimate of $2.32 by $0.07. The firm had revenue of $4.04 billion for the quarter, compared to the consensus estimate of $3.98 billion. Celgene had a return on equity of 114.66% and a net margin of 26.48%. During the same quarter in the previous year, the business earned $2.00 EPS. On average, research analysts forecast that Celgene Co. will post 10.01 EPS for the current fiscal year.
Several brokerages recently issued reports on CELG. Atlantic Securities downgraded Celgene from an “overweight” rating to a “neutral” rating and set a $94.34 price target on the stock. in a report on Monday, April 1st. Sanford C. Bernstein downgraded Celgene from an “outperform” rating to a “market perform” rating in a report on Monday, April 1st. UBS Group downgraded Celgene from a “buy” rating to a “neutral” rating and raised their price target for the stock from $94.00 to $102.00 in a report on Monday, April 1st. Jefferies Financial Group downgraded Celgene from a “buy” rating to a “hold” rating and set a $95.00 price target on the stock. in a report on Friday, February 1st. Finally, Wells Fargo & Co cut their price target on Celgene from $90.00 to $84.00 and set a “market perform” rating on the stock in a report on Thursday, January 3rd. One equities research analyst has rated the stock with a sell rating, eighteen have issued a hold rating and nine have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $99.41.
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Celgene Corporation, a biopharmaceutical company, discovers, develops, and commercializes therapies for the treatment of cancer and inflammatory diseases worldwide. It offers REVLIMID, an oral immunomodulatory drug for multiple myeloma (MM), myelodysplastic syndromes (MDS), and mantle cell lymphoma; POMALYST/IMNOVID to treat multiple myeloma; OTEZLA, a small-molecule inhibitor of phosphodiesterase 4 for psoriatic arthritis and psoriasis; and ABRAXANE to treat breast, non-small cell lung, pancreatic, and gastric cancers.
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