Victory Capital Management Inc. trimmed its stake in Celgene Corporation (NASDAQ:CELG) by 10.3% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 597,815 shares of the biopharmaceutical company’s stock after selling 68,935 shares during the quarter. Victory Capital Management Inc. owned approximately 0.08% of Celgene Corporation worth $74,387,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Pioneer Investment Management Inc. lifted its position 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 valued at $650,911,000 after buying an additional 710,584 shares during the last quarter. Swiss National Bank lifted its position in shares of Celgene Corporation by 27.2% in the first quarter. Swiss National Bank now owns 2,746,896 shares of the biopharmaceutical company’s stock valued at $341,796,000 after buying an additional 588,000 shares during the last quarter. Smith Asset Management Group LP acquired a new stake in shares of Celgene Corporation in the first quarter valued at approximately $71,276,000. Bank of New York Mellon Corp lifted its position in shares of Celgene Corporation by 4.9% in the first quarter. Bank of New York Mellon Corp now owns 10,088,473 shares of the biopharmaceutical company’s stock valued at $1,255,309,000 after buying an additional 472,067 shares during the last quarter. Finally, Karp Capital Management Corp acquired a new stake in shares of Celgene Corporation in the first quarter valued at approximately $49,750,000. Hedge funds and other institutional investors own 79.43% of the company’s stock.
Shares of Celgene Corporation (NASDAQ CELG) traded up 1.02% during midday trading on Friday, reaching $142.04. The company had a trading volume of 5,983,997 shares. The company has a 50 day moving average of $134.97 and a 200 day moving average of $127.46. Celgene Corporation has a one year low of $96.93 and a one year high of $142.69. The company has a market capitalization of $111.12 billion, a PE ratio of 43.99 and a beta of 1.89.
Celgene Corporation (NASDAQ:CELG) last released its 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. Celgene Corporation had a return on equity of 68.51% and a net margin of 21.35%. The business had revenue of $3.27 billion for the quarter, compared to analysts’ expectations of $3.23 billion. During the same quarter in the prior year, the firm earned $1.44 earnings per share. The firm’s revenue was up 18.7% on a year-over-year basis. Analysts predict that Celgene Corporation will post $7.33 EPS for the current fiscal year.
CELG has been the subject of a number of recent analyst reports. Oppenheimer Holdings, Inc. set a $148.00 price objective on Celgene Corporation and gave the company a “buy” rating in a research report on Wednesday, June 14th. Cann reaffirmed a “buy” rating on shares of Celgene Corporation in a research report on Wednesday, June 7th. Canaccord Genuity set a $156.00 price objective on Celgene Corporation and gave the company a “buy” rating in a research report on Tuesday, June 6th. Mizuho raised their price objective on Celgene Corporation from $130.00 to $134.00 and gave the company a “buy” rating in a research report on Thursday, June 1st. Finally, BTIG Research reissued a “buy” rating and set a $138.00 price target on shares of Celgene Corporation in a report on Wednesday, May 24th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company. Celgene Corporation currently has an average rating of “Buy” and a consensus price target of $149.34.
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In other news, insider Robert J. Hugin sold 175,970 shares of the firm’s stock in a transaction dated Thursday, June 22nd. The stock was sold at an average price of $134.14, for a total transaction of $23,604,615.80. Following the transaction, the insider now directly owns 1,033,909 shares of the company’s stock, valued at $138,688,553.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael D. Casey sold 9,250 shares of the firm’s stock in a transaction dated Monday, June 19th. The shares were sold at an average price of $125.59, for a total value of $1,161,707.50. The disclosure for this sale can be found here. Insiders have sold 267,476 shares of company stock worth $35,812,841 over the last ninety days. Insiders own 0.95% of the company’s stock.
Celgene Corporation 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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