Celgene Co. (CELG) Stake Lessened by Cetera Advisor Networks LLC

Cetera Advisor Networks LLC decreased its holdings in Celgene Co. (NASDAQ:CELG) by 11.3% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 12,204 shares of the biopharmaceutical company’s stock after selling 1,547 shares during the quarter. Cetera Advisor Networks LLC’s holdings in Celgene were worth $1,262,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Arcadia Investment Management Corp MI lifted its holdings in shares of Celgene by 118.7% in the third quarter. Arcadia Investment Management Corp MI now owns 737 shares of the biopharmaceutical company’s stock valued at $107,000 after buying an additional 400 shares during the period. Robecosam AG acquired a new stake in shares of Celgene in the third quarter valued at $114,000. Guidant Wealth Advisors acquired a new stake in shares of Celgene in the third quarter valued at $119,000. Capital Bank & Trust Co lifted its holdings in shares of Celgene by 166.8% in the third quarter. Capital Bank & Trust Co now owns 827 shares of the biopharmaceutical company’s stock valued at $121,000 after buying an additional 517 shares during the period. Finally, Fusion Family Wealth LLC acquired a new stake in shares of Celgene in the fourth quarter valued at $136,000. 78.60% of the stock is owned by institutional investors.

Shares of Celgene stock opened at $88.31 on Thursday. The stock has a market capitalization of $66,394.54, a PE ratio of 12.87, a P/E/G ratio of 0.62 and a beta of 1.58. The company has a debt-to-equity ratio of 2.29, a current ratio of 4.99 and a quick ratio of 4.80. Celgene Co. has a one year low of $86.55 and a one year high of $147.17.

Celgene (NASDAQ:CELG) last announced its quarterly earnings data on Thursday, January 25th. The biopharmaceutical company reported $1.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.78 by $0.09. The firm had revenue of $3.48 billion during the quarter, compared to the consensus estimate of $3.46 billion. Celgene had a return on equity of 67.50% and a net margin of 22.38%. The business’s revenue for the quarter was up 16.9% on a year-over-year basis. During the same period in the prior year, the business earned $1.61 EPS. analysts predict that Celgene Co. will post 7.66 earnings per share for the current year.

Celgene declared that its Board of Directors has authorized a stock repurchase program on Wednesday, February 14th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the biopharmaceutical company to repurchase shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

In other news, insider Mark J. Alles bought 3,260 shares of the company’s stock in a transaction on Thursday, February 8th. The shares were bought at an average cost of $91.90 per share, with a total value of $299,594.00. Following the transaction, the insider now directly owns 178,904 shares in the company, valued at approximately $16,441,277.60. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Gilla Kaplan sold 9,250 shares of the company’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $94.83, for a total value of $877,177.50. Following the completion of the transaction, the director now directly owns 94,801 shares in the company, valued at $8,989,978.83. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 41,120 shares of company stock worth $3,879,509. Insiders own 0.95% of the company’s stock.

Several brokerages have recently weighed in on CELG. Cantor Fitzgerald set a $112.00 price objective on Celgene and gave the company a “hold” rating in a report on Tuesday, January 23rd. JPMorgan Chase & Co. began coverage on Celgene in a report on Wednesday. They issued an “overweight” rating and a $110.00 price objective for the company. Deutsche Bank began coverage on Celgene in a report on Tuesday, December 12th. They issued a “hold” rating and a $114.00 price objective for the company. Robert W. Baird restated a “hold” rating and issued a $92.00 price objective on shares of Celgene in a report on Thursday, March 1st. Finally, SunTrust Banks set a $127.00 price objective on Celgene and gave the company a “buy” rating in a report 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 given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $127.78.

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About Celgene

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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