Massachusetts Financial Services Co. MA Sells 121,900 Shares of Celgene Co. (CELG)

Massachusetts Financial Services Co. MA lessened its holdings in Celgene Co. (NASDAQ:CELG) by 11.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 976,363 shares of the biopharmaceutical company’s stock after selling 121,900 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Celgene were worth $87,374,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Wealth Advisors of Tampa Bay LLC raised its holdings in Celgene by 5.9% during the 3rd quarter. Wealth Advisors of Tampa Bay LLC now owns 19,366 shares of the biopharmaceutical company’s stock worth $1,731,000 after buying an additional 1,085 shares during the period. Thomasville National Bank raised its holdings in Celgene by 4.1% during the 3rd quarter. Thomasville National Bank now owns 32,263 shares of the biopharmaceutical company’s stock worth $2,887,000 after buying an additional 1,271 shares during the period. Howland Capital Management LLC raised its holdings in Celgene by 4.6% during the 3rd quarter. Howland Capital Management LLC now owns 238,277 shares of the biopharmaceutical company’s stock worth $21,323,000 after buying an additional 10,411 shares during the period. Pillar Pacific Capital Management LLC raised its holdings in Celgene by 1.0% during the 3rd quarter. Pillar Pacific Capital Management LLC now owns 84,305 shares of the biopharmaceutical company’s stock worth $7,544,000 after buying an additional 803 shares during the period. Finally, Penn Davis Mcfarland Inc. raised its holdings in Celgene by 2.1% during the 3rd quarter. Penn Davis Mcfarland Inc. now owns 179,602 shares of the biopharmaceutical company’s stock worth $16,073,000 after buying an additional 3,711 shares during the period. 72.98% of the stock is currently owned by institutional investors.

In other news, Director John H. Weiland bought 5,575 shares of the firm’s stock in a transaction that occurred on Tuesday, August 7th. The stock was acquired at an average cost of $89.73 per share, with a total value of $500,244.75. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Ernest Mario sold 12,000 shares of the firm’s stock in a transaction on Thursday, August 9th. The shares were sold at an average price of $92.32, for a total transaction of $1,107,840.00. Following the completion of the transaction, the director now directly owns 44,413 shares of the company’s stock, valued at $4,100,208.16. The disclosure for this sale can be found here. 0.39% of the stock is currently owned by company insiders.

Shares of CELG opened at $71.60 on Thursday. The company has a market cap of $50.58 billion, a PE ratio of 10.47, a price-to-earnings-growth ratio of 0.44 and a beta of 1.30. Celgene Co. has a twelve month low of $70.09 and a twelve month high of $110.81. The company has a debt-to-equity ratio of 4.06, a current ratio of 2.13 and a quick ratio of 1.99.

Celgene (NASDAQ:CELG) last issued its quarterly earnings results on Thursday, October 25th. The biopharmaceutical company reported $2.29 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.27. The company had revenue of $3.89 billion during the quarter, compared to analysts’ expectations of $3.83 billion. Celgene had a net margin of 19.64% and a return on equity of 108.76%. As a group, sell-side analysts expect that Celgene Co. will post 7.56 EPS for the current fiscal year.

Several analysts have commented on CELG shares. BidaskClub downgraded shares of Celgene from a “hold” rating to a “sell” rating in a report on Wednesday, October 24th. Zacks Investment Research downgraded shares of Celgene from a “buy” rating to a “hold” rating in a report on Wednesday, September 26th. Cantor Fitzgerald started coverage on shares of Celgene in a report on Monday, October 1st. They set an “overweight” rating and a $100.00 target price on the stock. JPMorgan Chase & Co. restated a “buy” rating on shares of Celgene in a report on Thursday, October 25th. Finally, Morgan Stanley raised their target price on shares of Celgene from $90.00 to $91.00 and gave the stock an “equal weight” rating in a report on Friday, July 13th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $117.91.

About Celgene

Celgene Corporation, a biopharmaceutical company, engages in the discovery, development, and commercialization of therapies for the treatment of cancer and inflammatory diseases worldwide. It offers REVLIMID, an oral immunomodulatory drug for multiple myeloma (MM), myelodysplastic syndromes (MDS), and mantle cell lymphoma; POMALYST/IMNOVID to treat multiple myeloma; OTEZLA, a small-molecule inhibitor of phosphodiesterase 4 for psoriatic arthritis and psoriasis; and ABRAXANE, a solvent-free chemotherapy product to treat breast, non-small cell lung, pancreatic, and gastric cancers.

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Institutional Ownership by Quarter for Celgene (NASDAQ:CELG)

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