Washington Trust Bank Cuts Stake in Celgene Corporation (NASDAQ:CELG)
Washington Trust Bank decreased its position in Celgene Corporation (NASDAQ:CELG) by 6.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,390 shares of the biopharmaceutical company’s stock after selling 223 shares during the period. Washington Trust Bank’s holdings in Celgene Corporation were worth $440,000 as of its most recent filing with the SEC.
Other institutional investors have also recently added to or reduced their stakes in the company. Motco increased its position in Celgene Corporation by 306.9% in the first quarter. Motco now owns 822 shares of the biopharmaceutical company’s stock worth $102,000 after buying an additional 620 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Celgene Corporation during the first quarter worth approximately $118,000. Carroll Financial Associates Inc. increased 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 worth $119,000 after buying an additional 400 shares in the last quarter. Oakworth Capital Inc. increased 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 worth $136,000 after buying an additional 412 shares in the last quarter. Finally, Acropolis Investment Management LLC acquired a new position in Celgene Corporation during the second quarter worth approximately $144,000. Hedge funds and other institutional investors own 78.34% of the company’s stock.
Shares of Celgene Corporation (CELG) traded up 1.39% on Monday, reaching $132.42. 985,789 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 firm has a 50 day moving average price of $134.14 and a 200-day moving average price of $124.30. The stock has a market capitalization of $103.60 billion, a PE ratio of 41.01 and a beta of 1.89.
Celgene Corporation (NASDAQ:CELG) last announced its quarterly earnings results on Thursday, July 27th. The biopharmaceutical company reported $1.82 EPS for the quarter, beating the Zacks’ consensus estimate of $1.61 by $0.21. The company had revenue of $3.27 billion for the quarter, compared to analysts’ expectations of $3.23 billion. Celgene Corporation had a net margin of 21.35% and a return on equity of 68.51%. Celgene Corporation’s revenue was up 18.7% compared to the same quarter last year. During the same period in the prior year, the company posted $1.44 EPS. On average, analysts predict that Celgene Corporation will post $7.32 EPS for the current fiscal year.
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A number of equities analysts have recently commented on CELG shares. Robert W. Baird restated an “outperform” rating and set a $162.00 price objective on shares of Celgene Corporation in a research note on Wednesday, April 19th. Barclays PLC restated an “equal weight” rating and set a $125.00 price objective (up from $120.00) on shares of Celgene Corporation in a research note on Sunday, April 23rd. Cann restated a “buy” rating on shares of Celgene Corporation in a research note on Thursday, April 27th. Cantor Fitzgerald set a $159.00 price objective on shares of Celgene Corporation and gave the stock a “buy” rating in a research note on Thursday, April 27th. Finally, BTIG Research restated a “buy” rating and set a $138.00 price objective on shares of Celgene Corporation in a research note on Monday, May 1st. One analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $147.00.
In related news, insider Rupert Vessey sold 4,785 shares of the company’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 transaction of $575,061.30. Following the sale, the insider now owns 4,004 shares of the company’s stock, valued at approximately $481,200.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gilla Kaplan sold 7,500 shares of the company’s stock in a transaction that occurred on 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 sale, the director now directly owns 76,301 shares in the company, valued at approximately $10,264,010.52. The disclosure for this sale can be found here. Insiders have sold a total of 235,255 shares of company stock worth $31,377,042 in the last ninety days. 0.95% of the stock is currently owned by 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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