Bray Capital Advisors cut its stake in shares of Celgene Co. (NASDAQ:CELG) by 26.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,331 shares of the biopharmaceutical company’s stock after selling 2,654 shares during the quarter. Bray Capital Advisors’ holdings in Celgene were worth $765,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Arcadia Investment Management Corp MI increased its position in 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 buying an additional 400 shares in the last quarter. Thompson Davis & CO. Inc. increased its holdings in shares of Celgene by 5.9% in the 2nd quarter. Thompson Davis & CO. Inc. now owns 773 shares of the biopharmaceutical company’s stock worth $100,000 after purchasing an additional 43 shares in the last quarter. Robecosam AG bought a new stake in shares of Celgene in the 3rd quarter worth $114,000. Capital Bank & Trust Co increased its holdings in shares of 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 purchasing an additional 517 shares in the last quarter. Finally, Guidant Wealth Advisors bought a new stake in shares of Celgene in the 3rd quarter worth $119,000. Institutional investors and hedge funds own 78.63% of the company’s stock.
Shares of CELG traded down $2.14 during mid-day trading on Monday, reaching $87.07. 6,872,662 shares of the company’s stock traded hands, compared to its average volume of 8,098,341. The stock has a market cap of $67,101.59, a price-to-earnings ratio of 12.73, a P/E/G ratio of 0.60 and a beta of 1.48. Celgene Co. has a 12 month low of $84.95 and a 12 month high of $147.17. The company has a debt-to-equity ratio of 2.29, a quick ratio of 4.80 and a current ratio of 4.99.
Celgene (NASDAQ:CELG) last released its earnings results on Thursday, January 25th. The biopharmaceutical company reported $1.87 EPS for the quarter, beating analysts’ consensus estimates of $1.78 by $0.09. The firm had revenue of $3.48 billion for the quarter, compared to analysts’ expectations of $3.46 billion. Celgene had a return on equity of 67.50% and a net margin of 22.38%. The company’s quarterly revenue was up 16.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.61 earnings per share. analysts predict that Celgene Co. will post 7.66 earnings per share for the current fiscal year.
Celgene announced that its Board of Directors has initiated a share repurchase plan on Wednesday, February 14th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the biopharmaceutical company to buy shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board believes its shares are undervalued.
CELG has been the subject of a number of research analyst reports. Mizuho reissued a “buy” rating and issued a $128.00 target price on shares of Celgene in a report on Sunday, February 4th. Credit Suisse Group set a $125.00 price objective on Celgene and gave the stock a “buy” rating in a report on Monday, January 8th. Cann reaffirmed a “buy” rating and issued a $163.00 price objective on shares of Celgene in a report on Thursday, February 15th. Goldman Sachs cut their price objective on Celgene from $97.00 to $85.00 and set a “sell” rating for the company in a report on Monday, March 26th. Finally, Vetr lowered Celgene from a “strong-buy” rating to a “buy” rating and set a $121.72 price objective for the company. in a report on Monday, December 18th. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $127.68.
In related news, Director Gilla Kaplan sold 9,250 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $95.99, for a total value of $887,907.50. Following the completion of the sale, the director now owns 94,801 shares in the company, valued at $9,099,947.99. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ernest Mario sold 13,370 shares of the business’s stock in a transaction that occurred 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 have sold 41,120 shares of company stock worth $3,879,509. Insiders own 0.95% of the company’s stock.
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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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