Celgene Corporation (CELG) Stake Lowered by Farmers & Merchants Investments Inc.
Farmers & Merchants Investments Inc. lowered its position in Celgene Corporation (NASDAQ:CELG) by 4.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 22,838 shares of the biopharmaceutical company’s stock after selling 1,000 shares during the period. Farmers & Merchants Investments Inc.’s holdings in Celgene Corporation were worth $2,966,000 as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of CELG. Bank of Montreal Can raised its stake in shares of 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 during the period. Investec Asset Management LTD bought a new stake in shares of Celgene Corporation during the first quarter worth $194,490,000. Clearbridge Investments LLC raised its stake in shares of Celgene Corporation by 24.1% in the first quarter. Clearbridge Investments LLC now owns 4,601,919 shares of the biopharmaceutical company’s stock worth $572,617,000 after buying an additional 892,392 shares during the period. State Street Corp raised its stake in shares of Celgene Corporation by 2.3% in the first quarter. State Street Corp now owns 32,473,417 shares of the biopharmaceutical company’s stock worth $4,040,668,000 after buying an additional 723,844 shares during the period. Finally, Pioneer Investment Management Inc. raised its stake in shares of Celgene Corporation by 15.7% in the first quarter. Pioneer Investment Management Inc. now owns 5,231,139 shares of the biopharmaceutical company’s stock worth $650,911,000 after buying an additional 710,584 shares during the period. 78.34% of the stock is currently owned by institutional investors and hedge funds.
Celgene Corporation (NASDAQ CELG) traded up 0.12% during trading on Wednesday, hitting $131.53. 1,062,033 shares of the company were exchanged. Celgene Corporation has a 12 month low of $96.93 and a 12 month high of $139.00. The company has a 50-day moving average of $134.03 and a 200-day moving average of $124.75. The company has a market capitalization of $102.90 billion, a price-to-earnings ratio of 40.73 and a beta of 1.89.
Celgene Corporation (NASDAQ:CELG) last posted its quarterly earnings data 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. The business had revenue of $3.27 billion during the quarter, compared to analyst estimates of $3.23 billion. Celgene Corporation had a net margin of 21.35% and a return on equity of 68.51%. The company’s revenue was up 18.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.44 earnings per share. Analysts forecast that Celgene Corporation will post $7.32 EPS for the current year.
A number of brokerages have recently weighed in on CELG. Jefferies Group LLC set a $154.00 price objective on shares of Celgene Corporation and gave the company a “buy” rating in a report on Saturday, May 13th. BTIG Research lowered shares of Celgene Corporation from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $96.93 to $131.70 in a report on Friday, June 30th. Vetr raised shares of Celgene Corporation from a “buy” rating to a “strong-buy” rating and set a $148.32 price objective on the stock in a report on Thursday, August 10th. Robert W. Baird reissued an “outperform” rating and set a $162.00 price objective on shares of Celgene Corporation in a report on Monday, May 22nd. Finally, SunTrust Banks, Inc. set a $150.00 price objective on shares of Celgene Corporation and gave the company a “buy” rating in a report on Thursday, July 6th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $147.00.
In related news, insider Robert J. Hugin sold 175,970 shares of the company’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 transaction, the insider now owns 1,033,909 shares of the company’s stock, valued at $138,688,553.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Rupert Vessey sold 4,785 shares of the company’s stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $120.18, for a total transaction of $575,061.30. Following the transaction, the insider now directly owns 4,004 shares of the company’s stock, valued at approximately $481,200.72. The disclosure for this sale can be found here. In the last three months, insiders sold 253,761 shares of company stock valued at $33,792,445. Company insiders own 0.95% of the company’s stock.
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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