Crossmark Global Holdings Inc. lessened its stake in shares of Celgene Co. (NASDAQ:CELG) by 3.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 97,506 shares of the biopharmaceutical company’s stock after selling 3,314 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Celgene were worth $10,176,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in the company. Arcadia Investment Management Corp MI raised its holdings in shares of Celgene by 118.7% in the 3rd quarter. Arcadia Investment Management Corp MI now owns 737 shares of the biopharmaceutical company’s stock worth $107,000 after acquiring an additional 400 shares during the last quarter. Thompson Davis & CO. Inc. raised its holdings in shares of Celgene by 5.9% in the 2nd quarter. Thompson Davis & CO. Inc. now owns 773 shares of the biopharmaceutical company’s stock worth $100,000 after acquiring an additional 43 shares during the last quarter. Robecosam AG acquired a new stake in shares of Celgene in the 3rd quarter worth about $114,000. Capital Bank & Trust Co raised its holdings in shares of Celgene by 166.8% in the 3rd quarter. Capital Bank & Trust Co now owns 827 shares of the biopharmaceutical company’s stock worth $121,000 after acquiring an additional 517 shares during the last quarter. Finally, Guidant Wealth Advisors acquired a new stake in shares of Celgene in the 3rd quarter worth about $119,000. 78.67% of the stock is currently owned by institutional investors.
CELG has been the topic of a number of analyst reports. BMO Capital Markets upped their target price on shares of Celgene from $148.00 to $155.00 and gave the stock an “outperform” rating in a report on Friday, November 17th. Cantor Fitzgerald set a $112.00 target price on shares of Celgene and gave the stock a “hold” rating in a report on Wednesday, January 17th. William Blair restated a “buy” rating on shares of Celgene in a report on Wednesday, February 28th. Credit Suisse Group set a $129.00 price objective on shares of Celgene and gave the company a “buy” rating in a research note on Thursday, March 1st. Finally, Stifel Nicolaus set a $130.00 price objective on shares of Celgene and gave the company a “buy” rating in a research note on Monday, January 8th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $128.22.
Celgene Co. (NASDAQ:CELG) opened at $92.28 on Tuesday. Celgene Co. has a 52-week low of $86.55 and a 52-week high of $147.17. The firm has a market cap of $69,617.61, a P/E ratio of 25.78, a PEG ratio of 0.65 and a beta of 1.58. The company has a debt-to-equity ratio of 2.29, a quick ratio of 4.80 and a current ratio of 4.99.
Celgene (NASDAQ:CELG) last released its quarterly earnings data on Thursday, January 25th. The biopharmaceutical company reported $1.87 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.78 by $0.09. The company had revenue of $3.48 billion during the quarter, compared to the consensus estimate of $3.46 billion. Celgene had a net margin of 22.38% and a return on equity of 67.50%. Celgene’s revenue for the quarter was up 16.9% on a year-over-year basis. During the same period last year, the firm earned $1.61 EPS. sell-side analysts anticipate that Celgene Co. will post 7.66 earnings per share for the current fiscal year.
Celgene declared that its board has approved a stock buyback program on Wednesday, February 14th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the biopharmaceutical company to purchase shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.
ILLEGAL ACTIVITY WARNING: “Celgene Co. (CELG) Shares Sold by Crossmark Global Holdings Inc.” was first reported by Markets Daily and is the sole property of of Markets Daily. If you are reading this article on another site, it was illegally copied and reposted in violation of U.S. and international copyright and trademark legislation. The correct version of this article can be viewed at https://www.themarketsdaily.com/2018/03/13/celgene-co-celg-shares-sold-by-crossmark-global-holdings-inc.html.
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.
Want to see what other hedge funds are holding CELG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Celgene Co. (NASDAQ:CELG).
Receive News & Ratings for Celgene Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Celgene and related companies with MarketBeat.com's FREE daily email newsletter.