Greenwood Capital Associates LLC decreased its stake in Celgene Co. (NASDAQ:CELG) by 76.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,781 shares of the biopharmaceutical company’s stock after selling 91,211 shares during the period. Greenwood Capital Associates LLC’s holdings in Celgene were worth $2,621,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Bruderman Asset Management LLC bought a new position in Celgene during the fourth quarter worth about $25,000. Murphy Pohlad Asset Management LLC bought a new position in Celgene during the fourth quarter worth about $25,000. Athena Capital Advisors LLC bought a new position in Celgene during the fourth quarter worth about $27,000. Investors Research Corp bought a new position in Celgene during the first quarter worth about $28,000. Finally, Liberty Wealth Management LLC bought a new position in Celgene during the fourth quarter worth about $29,000. Institutional investors own 71.71% of the company’s stock.
NASDAQ CELG opened at $94.15 on Thursday. The company has a debt-to-equity ratio of 2.42, a current ratio of 2.78 and a quick ratio of 2.66. Celgene Co. has a 1-year low of $58.59 and a 1-year high of $97.07. The company has a market capitalization of $66.40 billion, a PE ratio of 12.37, a price-to-earnings-growth ratio of 0.43 and a beta of 1.68.
Celgene (NASDAQ:CELG) last released its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported $2.55 earnings per share for the quarter, beating analysts’ consensus estimates of $2.45 by $0.10. Celgene had a net margin of 30.10% and a return on equity of 106.69%. The company had revenue of $4.03 billion during the quarter, compared to the consensus estimate of $4.01 billion. During the same period in the previous year, the business earned $2.05 earnings per share. The firm’s quarterly revenue was up 13.8% on a year-over-year basis. On average, sell-side analysts anticipate that Celgene Co. will post 9.85 earnings per share for the current year.
CELG has been the subject of a number of research analyst reports. Cantor Fitzgerald cut Celgene from an “overweight” rating to a “neutral” rating and set a $94.00 price target for the company. in a report on Friday, April 5th. ValuEngine cut Celgene from a “hold” rating to a “sell” rating in a report on Wednesday, April 24th. BidaskClub cut Celgene from a “hold” rating to a “sell” rating in a report on Thursday, April 25th. Cowen began coverage on Celgene in a report on Tuesday, February 26th. They set a “market perform” rating and a $102.00 price objective for the company. Finally, Mizuho restated a “buy” rating and set a $103.00 price objective on shares of Celgene in a report on Thursday. Twenty equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $95.96.
Celgene Company Profile
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.
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