Logan Capital Management Inc. Has $12.46 Million Stake in Celgene Corporation (CELG)
Logan Capital Management Inc. lowered its stake in Celgene Corporation (NASDAQ:CELG) by 4.4% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 100,125 shares of the biopharmaceutical company’s stock after selling 4,589 shares during the period. Logan Capital Management Inc.’s holdings in Celgene Corporation were worth $12,459,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CELG. Motco boosted its position in Celgene Corporation by 306.9% in the first quarter. Motco now owns 822 shares of the biopharmaceutical company’s stock valued at $102,000 after buying an additional 620 shares during the period. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Celgene Corporation during the first quarter valued at $118,000. Carroll Financial Associates Inc. boosted its position in Celgene Corporation by 70.9% in the first quarter. Carroll Financial Associates Inc. now owns 964 shares of the biopharmaceutical company’s stock valued at $119,000 after buying an additional 400 shares during the period. Oakworth Capital Inc. boosted its position in Celgene Corporation by 60.9% in the first quarter. Oakworth Capital Inc. now owns 1,089 shares of the biopharmaceutical company’s stock valued at $136,000 after buying an additional 412 shares during the period. Finally, Mitsubishi UFJ Securities Holdings Co. Ltd. boosted its position in Celgene Corporation by 47.5% in the first quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 1,180 shares of the biopharmaceutical company’s stock valued at $147,000 after buying an additional 380 shares during the period. Institutional investors and hedge funds own 78.41% of the company’s stock.
Shares of Celgene Corporation (NASDAQ CELG) traded down 1.9508% during midday trading on Thursday, hitting $132.9253. 379,565 shares of the stock were exchanged. The firm has a 50-day moving average of $134.30 and a 200-day moving average of $124.13. Celgene Corporation has a 1-year low of $96.93 and a 1-year high of $139.00. The company has a market capitalization of $103.99 billion, a P/E ratio of 41.1661 and a beta of 1.89.
Celgene Corporation (NASDAQ:CELG) last released its quarterly earnings data on Thursday, July 27th. The biopharmaceutical company reported $1.82 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.61 by $0.21. The company 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 firm’s revenue for the quarter was up 18.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.44 earnings per share. On average, equities analysts expect that Celgene Corporation will post $7.32 EPS for the current year.
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Several research analysts recently weighed in on the stock. Jefferies Group LLC set a $154.00 price target on shares of Celgene Corporation and gave the stock a “buy” rating in a report on Saturday, May 13th. Oppenheimer Holdings, Inc. restated an “outperform” rating and set a $175.00 price target (up from $148.00) on shares of Celgene Corporation in a report on Monday, July 31st. SunTrust Banks, Inc. restated a “buy” rating and set a $150.00 price target on shares of Celgene Corporation in a report on Friday, July 14th. Argus upgraded shares of Celgene Corporation from a “hold” rating to a “buy” rating and boosted their price target for the stock from $96.93 to $160.00 in a report on Monday, July 31st. Finally, Stifel Nicolaus assumed coverage on shares of Celgene Corporation in a report on Friday, July 28th. They set a “buy” rating and a $155.00 price target on the stock. One analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-three have given a buy rating to the company’s stock. Celgene Corporation presently has an average rating of “Buy” and an average price target of $147.06.
In other Celgene Corporation news, insider Rupert Vessey sold 4,785 shares of the business’s stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $120.18, for a total value of $575,061.30. Following the completion of the transaction, the insider now directly owns 4,004 shares in the company, valued at $481,200.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gilla Kaplan sold 7,500 shares of the business’s stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $134.52, for a total transaction of $1,008,900.00. Following the completion of the transaction, the director now owns 76,301 shares of the company’s stock, valued at $10,264,010.52. The disclosure for this sale can be found here. Insiders sold 235,255 shares of company stock valued at $31,377,042 over the last quarter. 0.95% of the stock is currently owned by corporate insiders.
About Celgene Corporation
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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