Celgene (CELG) Shares Sold by Westover Capital Advisors LLC

Westover Capital Advisors LLC lessened its position in Celgene (NASDAQ:CELG) by 7.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,912 shares of the biopharmaceutical company’s stock after selling 1,504 shares during the quarter. Westover Capital Advisors LLC’s holdings in Celgene were worth $1,869,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Virtue Capital Management LLC bought a new position in shares of Celgene during the fourth quarter valued at about $101,000. Robecosam AG bought a new position in shares of Celgene during the third quarter valued at about $114,000. Guidant Wealth Advisors bought a new position in shares of Celgene during the third quarter valued at about $119,000. American Beacon Advisors Inc. bought a new position in shares of Celgene during the fourth quarter valued at about $120,000. Finally, Capital Bank & Trust Co grew its stake in shares of Celgene by 166.8% during 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 last quarter. 78.53% of the stock is currently owned by institutional investors and hedge funds.

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In other news, Director James J. Loughlin sold 9,250 shares of Celgene stock in a transaction that occurred on Monday, March 12th. The shares were sold at an average price of $92.01, for a total transaction of $851,092.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Mark J. Alles bought 3,260 shares of the stock in a transaction dated Thursday, February 8th. The shares were acquired at an average price of $91.90 per share, with a total value of $299,594.00. Following the completion of the acquisition, the insider now directly owns 178,904 shares of the company’s stock, valued at approximately $16,441,277.60. The disclosure for this purchase can be found here. Insiders sold 41,120 shares of company stock valued at $3,879,509 over the last 90 days. 0.95% of the stock is currently owned by company insiders.

A number of research analysts have recently issued reports on CELG shares. Mizuho reaffirmed a “buy” rating and set a $128.00 price objective on shares of Celgene in a research note on Sunday, February 4th. Credit Suisse Group set a $125.00 price objective on Celgene and gave the company a “buy” rating in a research note on Monday, January 8th. Cann reaffirmed a “buy” rating and set a $163.00 price objective on shares of Celgene in a research note on Thursday, February 15th. Goldman Sachs reduced their price objective on Celgene from $97.00 to $85.00 and set a “sell” rating on the stock in a research note on Monday, March 26th. Finally, William Blair reaffirmed a “buy” rating on shares of Celgene in a research note on Wednesday, February 28th. Three investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $126.95.

Shares of CELG opened at $88.95 on Friday. The company has a quick ratio of 4.80, a current ratio of 4.99 and a debt-to-equity ratio of 2.29. Celgene has a one year low of $84.25 and a one year high of $147.17. The stock has a market capitalization of $67,409.98, a price-to-earnings ratio of 13.06, a P/E/G ratio of 0.60 and a beta of 1.49.

Celgene (NASDAQ:CELG) last issued its quarterly earnings data on Thursday, January 25th. The biopharmaceutical company reported $1.87 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.78 by $0.09. Celgene had a net margin of 22.38% and a return on equity of 67.50%. The business had revenue of $3.48 billion during the quarter, compared to analyst estimates of $3.46 billion. During the same period last year, the business posted $1.61 earnings per share. Celgene’s quarterly revenue was up 16.9% compared to the same quarter last year. sell-side analysts predict that Celgene will post 7.69 EPS for the current fiscal year.

Celgene declared that its board has initiated a stock buyback plan on Wednesday, February 14th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the biopharmaceutical company to purchase shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board believes its shares are undervalued.

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Celgene Profile

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.

Institutional Ownership by Quarter for Celgene (NASDAQ:CELG)

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