Celgene Corporation (CELG) Stake Boosted by Gradient Investments LLC

Gradient Investments LLC boosted its position in Celgene Corporation (NASDAQ:CELG) by 5.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,750 shares of the biopharmaceutical company’s stock after buying an additional 149 shares during the period. Gradient Investments LLC’s holdings in Celgene Corporation were worth $357,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Sheets Smith Wealth Management increased its position in shares of Celgene Corporation by 2.6% in the second quarter. Sheets Smith Wealth Management now owns 32,641 shares of the biopharmaceutical company’s stock worth $4,239,000 after buying an additional 842 shares during the period. Cypress Capital Management LLC WY increased its position in shares of Celgene Corporation by 2.1% in the second quarter. Cypress Capital Management LLC WY now owns 50,736 shares of the biopharmaceutical company’s stock worth $6,589,000 after buying an additional 1,030 shares during the period. Reilly Financial Advisors LLC increased its position in shares of Celgene Corporation by 52.4% in the second quarter. Reilly Financial Advisors LLC now owns 1,846 shares of the biopharmaceutical company’s stock worth $240,000 after buying an additional 635 shares during the period. Anderson Hoagland & Co. increased its position in shares of Celgene Corporation by 22.4% in the second quarter. Anderson Hoagland & Co. now owns 15,044 shares of the biopharmaceutical company’s stock worth $1,954,000 after buying an additional 2,754 shares during the period. Finally, State Treasurer State of Michigan increased its position in shares of Celgene Corporation by 9.0% in the second quarter. State Treasurer State of Michigan now owns 583,652 shares of the biopharmaceutical company’s stock worth $75,799,000 after buying an additional 48,100 shares during the period. Hedge funds and other institutional investors own 78.41% of the company’s stock.

Celgene Corporation (NASDAQ:CELG) traded down 0.45% during trading on Tuesday, reaching $136.45. 657,937 shares of the company traded hands. The company’s 50-day moving average price is $132.00 and its 200 day moving average price is $123.32. Celgene Corporation has a 52 week low of $96.93 and a 52 week high of $139.00. The firm has a market capitalization of $106.75 billion, a price-to-earnings ratio of 42.26 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 EPS for the quarter, topping the 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 company had revenue of $3.27 billion during the quarter, compared to the consensus estimate of $3.23 billion. During the same period last year, the company earned $1.44 EPS. Celgene Corporation’s revenue for the quarter was up 18.7% on a year-over-year basis. On average, equities research analysts expect that Celgene Corporation will post $7.32 EPS for the current year.

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A number of research analysts have recently issued reports on the stock. Cann restated a “buy” rating and issued a $175.00 price target on shares of Celgene Corporation in a research report on Tuesday, August 1st. Jefferies Group LLC restated a “buy” rating and issued a $160.00 price target on shares of Celgene Corporation in a research report on Monday, July 31st. Oppenheimer Holdings, Inc. restated an “outperform” rating and issued a $175.00 price target (up previously from $148.00) on shares of Celgene Corporation in a research report on Monday, July 31st. 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 research report on Monday, July 31st. Finally, Barclays PLC restated a “hold” rating and issued a $135.00 price target on shares of Celgene Corporation in a research report on Friday, July 28th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-three have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $147.06.

In related news, insider Robert J. Hugin sold 175,970 shares of Celgene Corporation stock in a transaction dated Thursday, June 22nd. The stock was sold at an average price of $134.14, for a total value of $23,604,615.80. Following the completion of the sale, the insider now directly owns 1,033,909 shares in the company, valued at approximately $138,688,553.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Rupert Vessey sold 4,785 shares of Celgene Corporation stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $120.18, for a total value of $575,061.30. Following the completion of the sale, the insider now owns 4,004 shares of the company’s stock, valued at $481,200.72. The disclosure for this sale can be found here. Insiders sold a total of 235,255 shares of company stock valued at $31,377,042 over the last quarter. 0.95% of the stock is 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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Institutional Ownership by Quarter for Celgene Corporation (NASDAQ:CELG)

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