Bridges Investment Counsel Inc. raised its position in shares of Celgene Corporation (NASDAQ:CELG) by 74.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 77,476 shares of the biopharmaceutical company’s stock after buying an additional 32,943 shares during the period. Celgene Corporation accounts for approximately 2.3% of Bridges Investment Counsel Inc.’s portfolio, making the stock its 6th largest position. Bridges Investment Counsel Inc.’s holdings in Celgene Corporation were worth $10,062,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Bank of Montreal Can increased its position in Celgene Corporation by 149.8% in the first quarter. Bank of Montreal Can now owns 3,299,988 shares of the biopharmaceutical company’s stock worth $410,615,000 after buying an additional 1,979,061 shares in the last quarter. Highland Capital Management LLC raised its position in Celgene Corporation by 8.7% in the first quarter. Highland Capital Management LLC now owns 63,167 shares of the biopharmaceutical company’s stock worth $7,860,000 after buying an additional 5,051 shares during the last quarter. Legacy Private Trust Co. raised its position in Celgene Corporation by 14.1% in the first quarter. Legacy Private Trust Co. now owns 35,069 shares of the biopharmaceutical company’s stock worth $4,364,000 after buying an additional 4,323 shares during the last quarter. Pennsylvania Trust Co raised its position in Celgene Corporation by 51.8% in the first quarter. Pennsylvania Trust Co now owns 52,128 shares of the biopharmaceutical company’s stock worth $6,486,000 after buying an additional 17,788 shares during the last quarter. Finally, First American Bank raised its position in Celgene Corporation by 13.9% in the first quarter. First American Bank now owns 39,618 shares of the biopharmaceutical company’s stock worth $4,930,000 after buying an additional 4,846 shares during the last quarter. Institutional investors and hedge funds own 78.34% of the company’s stock.

Shares of Celgene Corporation (CELG) traded up 0.05% during trading on Friday, hitting $127.65. 4,270,548 shares of the company’s stock were exchanged. Celgene Corporation has a 1-year low of $96.93 and a 1-year high of $139.00. The stock’s 50-day moving average price is $133.74 and its 200-day moving average price is $124.92. The stock has a market cap of $99.87 billion, a PE ratio of 39.53 and a beta of 1.89.

Celgene Corporation (NASDAQ:CELG) last posted its quarterly earnings results on Thursday, July 27th. The biopharmaceutical company reported $1.82 earnings per share for the quarter, beating analysts’ consensus estimates of $1.61 by $0.21. Celgene Corporation had a net margin of 21.35% and a return on equity of 68.51%. The company had revenue of $3.27 billion for the quarter, compared to the consensus estimate of $3.23 billion. During the same period last year, the company posted $1.44 EPS. The firm’s quarterly revenue was up 18.7% compared to the same quarter last year. On average, equities analysts expect that Celgene Corporation will post $7.32 earnings per share for the current fiscal year.

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A number of research firms recently issued reports on CELG. Cantor Fitzgerald set a $159.00 target price on shares of Celgene Corporation and gave the company a “buy” rating in a research note on Thursday, April 27th. Oppenheimer Holdings, Inc. reiterated an “outperform” rating and issued a $175.00 target price (up from $148.00) on shares of Celgene Corporation in a research note on Monday, July 31st. BMO Capital Markets reiterated an “outperform” rating and issued a $160.00 target price (up from $152.00) on shares of Celgene Corporation in a research note on Friday, July 28th. Canaccord Genuity set a $156.00 target price on shares of Celgene Corporation and gave the company a “buy” rating in a research note on Tuesday, June 6th. Finally, BidaskClub upgraded shares of Celgene Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, June 21st. One investment analyst has rated the stock with a sell rating, six have given a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $147.00.

In other news, insider Rupert Vessey sold 4,785 shares of the firm’s stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $120.18, for a total value of $575,061.30. Following the sale, the insider now directly owns 4,004 shares in the company, valued at approximately $481,200.72. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 $138,688,553.26. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 253,761 shares of company stock worth $33,792,445. 0.95% of the stock is currently owned by corporate insiders.

Celgene Corporation 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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Institutional Ownership by Quarter for Celgene Corporation (NASDAQ:CELG)

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