First Long Island Investors LLC increased its holdings in shares of Celgene Co. (NASDAQ:CELG) by 1.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 126,543 shares of the biopharmaceutical company’s stock after purchasing an additional 1,354 shares during the quarter. Celgene makes up about 1.8% of First Long Island Investors LLC’s investment portfolio, making the stock its 27th biggest holding. First Long Island Investors LLC’s holdings in Celgene were worth $13,206,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Arcadia Investment Management Corp MI lifted its stake in 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 acquiring an additional 400 shares during the last quarter. Robecosam AG acquired a new stake in Celgene in the third quarter valued at $114,000. Guidant Wealth Advisors acquired a new stake in Celgene in the third quarter valued at $119,000. Capital Bank & Trust Co lifted its stake in 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 acquiring an additional 517 shares during the last quarter. Finally, Fusion Family Wealth LLC acquired a new stake in Celgene in the fourth quarter valued at $136,000. Institutional investors and hedge funds own 78.60% of the company’s stock.
Celgene stock opened at $89.61 on Monday. Celgene Co. has a 1 year low of $86.55 and a 1 year high of $147.17. The company has a market cap of $67,402.45, a PE ratio of 25.03, a P/E/G ratio of 0.63 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 declared that its board has approved a stock repurchase plan on Wednesday, February 14th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the biopharmaceutical company to purchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.
In related news, Director Ernest Mario sold 13,370 shares of the firm’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $94.49, for a total transaction of $1,263,331.30. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director James J. Loughlin sold 9,250 shares of the firm’s stock in a transaction dated Monday, March 12th. The stock was sold at an average price of $92.01, for a total transaction of $851,092.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 41,120 shares of company stock worth $3,879,509. 0.95% of the stock is owned by insiders.
A number of brokerages have commented on CELG. BidaskClub cut shares of Celgene from a “sell” rating to a “strong sell” rating in a research note on Thursday. Leerink Swann reiterated a “buy” rating and issued a $120.00 price target on shares of Celgene in a research note on Friday, December 22nd. BTIG Research reiterated a “hold” rating on shares of Celgene in a research note on Tuesday, January 23rd. UBS set a $106.00 price target on shares of Celgene and gave the company a “buy” rating in a research note on Wednesday, February 28th. Finally, William Blair reiterated a “buy” rating on shares of Celgene in a research note on Wednesday, February 28th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $128.22.
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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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