Mork Capital Management LLC raised its holdings in shares of Celgene Co. (NASDAQ:CELG) by 53.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,000 shares of the biopharmaceutical company’s stock after purchasing an additional 5,200 shares during the quarter. Celgene accounts for about 1.0% of Mork Capital Management LLC’s portfolio, making the stock its 18th largest position. Mork Capital Management LLC’s holdings in Celgene were worth $1,565,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Janus Henderson Group PLC lifted its holdings in shares of Celgene by 4,290.5% in the 2nd quarter. Janus Henderson Group PLC now owns 8,408,961 shares of the biopharmaceutical company’s stock worth $1,092,071,000 after acquiring an additional 8,217,433 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Celgene by 5.7% in the 2nd quarter. BlackRock Inc. now owns 56,725,342 shares of the biopharmaceutical company’s stock worth $7,366,919,000 after acquiring an additional 3,084,227 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Celgene by 1,489.2% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,907,052 shares of the biopharmaceutical company’s stock worth $247,669,000 after acquiring an additional 1,787,052 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Celgene by 3.1% in the 2nd quarter. Vanguard Group Inc. now owns 53,527,210 shares of the biopharmaceutical company’s stock worth $6,951,579,000 after acquiring an additional 1,610,056 shares during the last quarter. Finally, Jennison Associates LLC lifted its holdings in shares of Celgene by 11.5% in the 3rd quarter. Jennison Associates LLC now owns 14,962,407 shares of the biopharmaceutical company’s stock worth $2,181,818,000 after acquiring an additional 1,546,673 shares during the last quarter. Institutional investors and hedge funds own 78.67% of the company’s stock.
CELG has been the subject of several analyst reports. Oppenheimer set a $166.00 target price on shares of Celgene and gave the stock a “buy” rating in a report on Thursday, November 16th. Canaccord Genuity set a $140.00 price target on shares of Celgene and gave the stock a “buy” rating in a research note on Thursday, November 16th. BMO Capital Markets raised their price target on shares of Celgene from $148.00 to $155.00 and gave the stock an “outperform” rating in a research note on Friday, November 17th. TheStreet downgraded shares of Celgene from a “b-” rating to a “c+” rating in a research note on Friday, November 17th. Finally, Cann reaffirmed a “buy” rating and issued a $166.00 price target on shares of Celgene in a research note on Wednesday, November 22nd. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company’s stock. Celgene presently has a consensus rating of “Buy” and a consensus price target of $128.22.
Celgene (NASDAQ:CELG) last released its earnings results on Thursday, January 25th. The biopharmaceutical company reported $1.87 EPS for the quarter, topping analysts’ consensus estimates of $1.78 by $0.09. The company had revenue of $3.48 billion during the quarter, compared to analysts’ expectations 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 business earned $1.61 EPS. sell-side analysts predict that Celgene Co. will post 7.66 earnings per share for the current fiscal year.
Celgene announced that its board has approved a share repurchase program on Wednesday, February 14th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the biopharmaceutical company to repurchase shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.
In related news, Director Gilla Kaplan sold 9,250 shares of Celgene stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $95.99, for a total value of $887,907.50. Following the completion of the sale, the director now directly owns 94,801 shares in the company, valued at approximately $9,099,947.99. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ernest Mario sold 13,370 shares of Celgene stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $94.49, for a total transaction of $1,263,331.30. The disclosure for this sale can be found here. Insiders sold a total of 31,870 shares of company stock valued at $3,028,416 over the last quarter. 0.95% of the stock is owned by company insiders.
ILLEGAL ACTIVITY WARNING: This piece of content was first published by Sports Perspectives and is the sole property of of Sports Perspectives. If you are accessing this piece of content on another website, it was illegally copied and reposted in violation of U.S. & international trademark and copyright legislation. The correct version of this piece of content can be accessed at https://sportsperspectives.com/2018/03/12/mork-capital-management-llc-grows-holdings-in-celgene-co-celg.html.
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.
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.