Hudson Valley Investment Advisors Inc. ADV cut its holdings in Celgene Co. (NASDAQ:CELG) by 40.6% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,366 shares of the biopharmaceutical company’s stock after selling 6,393 shares during the quarter. Hudson Valley Investment Advisors Inc. ADV’s holdings in Celgene were worth $884,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Bruderman Asset Management LLC bought a new position in Celgene in the fourth quarter valued at about $25,000. Murphy Pohlad Asset Management LLC bought a new position in Celgene in the fourth quarter valued at about $25,000. Athena Capital Advisors LLC bought a new position in Celgene in the fourth quarter valued at about $27,000. Liberty Wealth Management LLC bought a new position in Celgene in the fourth quarter valued at about $29,000. Finally, Berman Capital Advisors LLC bought a new position in Celgene in the fourth quarter valued at about $32,000. 74.92% of the stock is currently owned by institutional investors and hedge funds.

Shares of CELG opened at $94.09 on Wednesday. Celgene Co. has a 1 year low of $58.59 and a 1 year high of $95.30. The company has a quick ratio of 2.12, a current ratio of 2.23 and a debt-to-equity ratio of 3.21. The stock has a market cap of $66.08 billion, a PE ratio of 12.36, a P/E/G ratio of 0.43 and a beta of 1.71.

Celgene (NASDAQ:CELG) last issued its quarterly earnings data on Thursday, January 31st. The biopharmaceutical company reported $2.39 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.32 by $0.07. The company had revenue of $4.04 billion during 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 period last year, the company earned $2.00 earnings per share. On average, research analysts anticipate that Celgene Co. will post 10.01 EPS for the current fiscal year.

In other Celgene news, Director Ernest Mario bought 2,000 shares of the stock in a transaction on Tuesday, February 12th. The stock was acquired at an average cost of $89.99 per share, for a total transaction of $179,980.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director James J. Loughlin sold 23,466 shares of Celgene stock in a transaction that occurred 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 completion of the sale, the director now owns 62,102 shares of the company’s stock, valued at $5,420,883.58. The disclosure for this sale can be found here. Insiders own 0.39% of the company’s stock.

Several equities analysts have commented on CELG shares. Cantor Fitzgerald downgraded Celgene from an “overweight” rating to a “neutral” rating and set a $94.00 target price for the company. in a research report on Friday, April 5th. Morgan Stanley dropped their target price on Celgene from $93.00 to $88.00 and set an “equal weight” rating for the company in a research report on Wednesday, December 19th. Cowen started coverage on Celgene in a research report on Tuesday, February 26th. They issued a “market perform” rating and a $102.00 target price for the company. BidaskClub upgraded Celgene from a “strong sell” rating to a “sell” rating in a research report on Friday, January 4th. Finally, ValuEngine upgraded Celgene from a “sell” rating to a “hold” rating in a research report on Saturday, March 30th. One research analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and nine have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $99.41.

TRADEMARK VIOLATION WARNING: This piece of content was posted by Watch List News and is the property of of Watch List News. If you are accessing this piece of content on another publication, it was stolen and republished in violation of US & international copyright & trademark legislation. The correct version of this piece of content can be viewed at https://www.watchlistnews.com/celgene-co-celg-shares-sold-by-hudson-valley-investment-advisors-inc-adv/2953074.html.

About Celgene

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.

See Also: What are Institutional Investors?

Institutional Ownership by Quarter for Celgene (NASDAQ:CELG)

Receive News & Ratings for Celgene Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Celgene and related companies with MarketBeat.com's FREE daily email newsletter.