Inverness Counsel LLC NY Sells 1,055 Shares of Celgene Co. (CELG)

Inverness Counsel LLC NY decreased its position in Celgene Co. (NASDAQ:CELG) by 0.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 230,770 shares of the biopharmaceutical company’s stock after selling 1,055 shares during the quarter. Celgene accounts for approximately 2.4% of Inverness Counsel LLC NY’s holdings, making the stock its 8th largest holding. Inverness Counsel LLC NY’s holdings in Celgene were worth $33,651,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Wendell David Associates Inc. raised its stake in shares of Celgene by 4.2% in the 3rd quarter. Wendell David Associates Inc. now owns 92,735 shares of the biopharmaceutical company’s stock valued at $13,523,000 after purchasing an additional 3,735 shares during the period. Arcadia Investment Management Corp MI raised its stake 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 valued at $107,000 after purchasing an additional 400 shares during the period. Assenagon Asset Management S.A. acquired a new stake in shares of Celgene in the 3rd quarter valued at about $14,700,000. Ingalls & Snyder LLC raised its stake in shares of Celgene by 1.8% in the 3rd quarter. Ingalls & Snyder LLC now owns 27,001 shares of the biopharmaceutical company’s stock valued at $3,937,000 after purchasing an additional 486 shares during the period. Finally, Howe & Rusling Inc. raised its stake in shares of Celgene by 15.6% in the 3rd quarter. Howe & Rusling Inc. now owns 34,859 shares of the biopharmaceutical company’s stock valued at $5,083,000 after purchasing an additional 4,713 shares during the period. 79.84% of the stock is currently owned by hedge funds and other institutional investors.

In other news, insider Terrie Curran sold 1,727 shares of the business’s stock in a transaction that occurred on Monday, September 25th. The stock was sold at an average price of $143.89, for a total transaction of $248,498.03. Following the completion of the sale, the insider now owns 3,925 shares in the company, valued at $564,768.25. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.95% of the company’s stock.

A number of analysts recently issued reports on CELG shares. Cantor Fitzgerald reaffirmed a “buy” rating on shares of Celgene in a research report on Tuesday, August 22nd. Vetr downgraded Celgene from a “strong-buy” rating to a “buy” rating and set a $146.88 target price on the stock. in a research report on Tuesday, August 29th. BTIG Research reaffirmed a “neutral” rating on shares of Celgene in a research report on Tuesday, September 5th. Cowen reaffirmed a “buy” rating and issued a $150.00 target price on shares of Celgene in a research report on Tuesday, September 12th. Finally, Bank of America reaffirmed a “buy” rating on shares of Celgene in a research report on Wednesday, September 13th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the stock. Celgene currently has a consensus rating of “Buy” and an average target price of $136.21.

Shares of Celgene Co. (NASDAQ CELG) opened at $108.04 on Tuesday. Celgene Co. has a 1-year low of $94.55 and a 1-year high of $147.17. The stock has a market capitalization of $86,140.35, a P/E ratio of 17.09, a PEG ratio of 0.84 and a beta of 1.78. The company has a current ratio of 3.65, a quick ratio of 3.52 and a debt-to-equity ratio of 1.31.

Celgene (NASDAQ:CELG) last issued its quarterly earnings data on Thursday, October 26th. The biopharmaceutical company reported $1.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.87 by $0.04. Celgene had a return on equity of 63.80% and a net margin of 27.36%. The company had revenue of $3.29 billion during the quarter, compared to analysts’ expectations of $3.42 billion. During the same quarter in the previous year, the company posted $1.58 earnings per share. The business’s revenue was up 10.2% on a year-over-year basis. equities research analysts expect that Celgene Co. will post 6.68 EPS for the current year.

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Celgene 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 (NASDAQ:CELG)

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