Associated Banc Corp increased its holdings in Celgene (NASDAQ:CELG) by 34.9% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 202,469 shares of the biopharmaceutical company’s stock after purchasing an additional 52,380 shares during the period. Associated Banc Corp’s holdings in Celgene were worth $18,062,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in the company. Virtue Capital Management LLC bought a new stake in Celgene during the 4th quarter valued at $101,000. Robecosam AG bought a new stake in Celgene during the 3rd quarter valued at $114,000. American Beacon Advisors Inc. bought a new stake in Celgene during the 4th quarter valued at $120,000. Capital Bank & Trust Co raised its holdings in Celgene by 166.8% during the 3rd quarter. Capital Bank & Trust Co now owns 827 shares of the biopharmaceutical company’s stock valued at $121,000 after buying an additional 517 shares during the last quarter. Finally, Truewealth LLC bought a new stake in Celgene during the 4th quarter valued at $123,000. 80.60% of the stock is owned by institutional investors.
In related news, Director Ernest Mario sold 13,370 shares of the stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $94.49, for a total transaction of $1,263,331.30. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Gilla Kaplan sold 9,250 shares of the stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $94.83, for a total transaction of $877,177.50. Following the sale, the director now directly owns 94,801 shares in the company, valued at $8,989,978.83. The disclosure for this sale can be found here. Over the last quarter, insiders sold 31,870 shares of company stock valued at $2,991,601. 0.95% of the stock is owned by company insiders.
A number of equities research analysts recently commented on the stock. BMO Capital Markets reiterated a “buy” rating and set a $144.00 price target on shares of Celgene in a report on Wednesday, January 24th. SunTrust Banks reiterated a “buy” rating and set a $139.00 price target (up from $127.00) on shares of Celgene in a report on Friday, January 26th. Cantor Fitzgerald reiterated a “hold” rating and set a $112.00 price target on shares of Celgene in a report on Monday, January 29th. Vetr upgraded shares of Celgene from a “buy” rating to a “strong-buy” rating and set a $116.84 price target for the company in a report on Thursday, January 25th. Finally, Royal Bank of Canada reiterated a “top pick” rating on shares of Celgene in a report on Tuesday, January 23rd. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $123.98.
Shares of Celgene stock opened at $79.98 on Friday. The company has a debt-to-equity ratio of 3.92, a current ratio of 2.53 and a quick ratio of 2.36. The stock has a market capitalization of $59.42 billion, a P/E ratio of 11.69, a price-to-earnings-growth ratio of 0.55 and a beta of 1.49. Celgene has a 1 year low of $81.66 and a 1 year high of $83.37.
Celgene (NASDAQ:CELG) last issued its quarterly earnings results on Friday, May 4th. The biopharmaceutical company reported $2.05 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.96 by $0.09. The company had revenue of $3.54 billion during the quarter, compared to analyst estimates of $3.47 billion. Celgene had a net margin of 20.73% and a return on equity of 72.92%. Celgene’s quarterly revenue was up 19.4% compared to the same quarter last year. During the same period last year, the business earned $1.68 EPS. equities research analysts expect that Celgene will post 7.63 earnings per share for the current fiscal year.
Celgene announced that its Board of Directors has approved a stock buyback plan on Wednesday, February 14th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the biopharmaceutical company to purchase shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s board believes its stock is undervalued.
Celgene Company Profile
Celgene Corporation, a biopharmaceutical company, engages in the discovery, development, and commercialization of 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, a solvent-free chemotherapy product to treat breast, non-small cell lung, pancreatic, and gastric cancers.
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