Commonwealth Bank of Australia Trims Position in Celgene Corporation (CELG)

Commonwealth Bank of Australia reduced its position in Celgene Corporation (NASDAQ:CELG) by 16.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 25,032 shares of the biopharmaceutical company’s stock after selling 4,787 shares during the quarter. Commonwealth Bank of Australia’s holdings in Celgene Corporation were worth $3,250,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. Tredje AP fonden lifted its position in Celgene Corporation by 4.3% in the second quarter. Tredje AP fonden now owns 137,217 shares of the biopharmaceutical company’s stock worth $17,820,000 after purchasing an additional 5,690 shares during the period. Schroder Investment Management Group lifted its position in Celgene Corporation by 9.7% in the second quarter. Schroder Investment Management Group now owns 508,799 shares of the biopharmaceutical company’s stock worth $67,010,000 after purchasing an additional 45,033 shares during the period. IFM Investors Pty Ltd bought a new position in Celgene Corporation in the second quarter worth $2,804,000. Dillon & Associates Inc. lifted its position in Celgene Corporation by 4.7% in the second quarter. Dillon & Associates Inc. now owns 46,873 shares of the biopharmaceutical company’s stock worth $6,093,000 after purchasing an additional 2,095 shares during the period. Finally, LSV Asset Management bought a new position in Celgene Corporation in the second quarter worth $1,701,000. 79.16% of the stock is owned by hedge funds and other institutional investors.

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Several brokerages recently commented on CELG. Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and issued a $175.00 target price on shares of Celgene Corporation in a research report on Wednesday, August 9th. Vetr raised Celgene Corporation from a “buy” rating to a “strong-buy” rating and set a $148.32 target price for the company in a research report on Wednesday, August 16th. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $162.00 target price on shares of Celgene Corporation in a research report on Tuesday, September 26th. BMO Capital Markets reduced their target price on Celgene Corporation from $163.00 to $148.00 and set an “outperform” rating for the company in a research report on Friday, October 27th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $160.00 target price on shares of Celgene Corporation in a research report on Monday, July 31st. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, nineteen have assigned a buy rating and two have given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $139.64.

Celgene Corporation (NASDAQ:CELG) opened at $102.34 on Monday. Celgene Corporation has a 1-year low of $94.55 and a 1-year high of $147.17. The company has a current ratio of 3.65, a quick ratio of 3.52 and a debt-to-equity ratio of 1.31. The firm has a market capitalization of $80,574.02, a PE ratio of 15.99, a PEG ratio of 0.79 and a beta of 1.79.

Celgene Corporation (NASDAQ:CELG) last announced its earnings results on Thursday, October 26th. The biopharmaceutical company reported $1.91 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.87 by $0.04. Celgene Corporation had a return on equity of 63.80% and a net margin of 27.36%. The business had revenue of $3.29 billion for the quarter, compared to analyst estimates of $3.42 billion. During the same quarter last year, the firm earned $1.58 EPS. Celgene Corporation’s revenue for the quarter was up 10.2% compared to the same quarter last year. analysts forecast that Celgene Corporation will post 6.67 earnings per share for the current fiscal year.

In related news, insider Terrie Curran sold 1,727 shares of Celgene Corporation stock in a transaction that occurred on Monday, September 25th. The stock was sold at an average price of $143.89, for a total value of $248,498.03. Following the sale, the insider now owns 3,925 shares of the company’s stock, valued at approximately $564,768.25. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Michael D. Casey sold 9,250 shares of Celgene Corporation stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $139.03, for a total value of $1,286,027.50. Following the completion of the sale, the director now directly owns 9,250 shares in the company, valued at approximately $1,286,027.50. The disclosure for this sale can be found here. In the last three months, insiders sold 20,227 shares of company stock worth $2,843,956. 0.95% of the stock is 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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Institutional Ownership by Quarter for Celgene Corporation (NASDAQ:CELG)

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