Marshall & Sullivan Inc. WA Increases Holdings in Celgene Co. (CELG)

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Marshall & Sullivan Inc. WA raised its stake in shares of Celgene Co. (NASDAQ:CELG) by 5.7% in the third quarter, Holdings Channel reports. The institutional investor owned 20,441 shares of the biopharmaceutical company’s stock after buying an additional 1,095 shares during the quarter. Celgene makes up about 1.3% of Marshall & Sullivan Inc. WA’s holdings, making the stock its 27th largest holding. Marshall & Sullivan Inc. WA’s holdings in Celgene were worth $1,829,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Indiana Trust & Investment Management CO bought a new stake in shares of Celgene during the 2nd quarter valued at $1,307,000. Prospera Financial Services Inc bought a new stake in shares of Celgene during the 2nd quarter valued at $352,000. Bangor Savings Bank grew its position in shares of Celgene by 21.2% during the 3rd quarter. Bangor Savings Bank now owns 18,049 shares of the biopharmaceutical company’s stock valued at $1,615,000 after acquiring an additional 3,157 shares during the period. Korea Investment CORP grew its position in shares of Celgene by 1.5% during the 2nd quarter. Korea Investment CORP now owns 674,446 shares of the biopharmaceutical company’s stock valued at $53,565,000 after acquiring an additional 10,000 shares during the period. Finally, Headinvest LLC bought a new stake in shares of Celgene during the 2nd quarter valued at $1,819,000. Institutional investors and hedge funds own 72.98% of the company’s stock.

A number of equities research analysts have recently issued reports on CELG shares. Zacks Investment Research downgraded shares of Celgene from a “buy” rating to a “hold” rating in a research report on Wednesday, September 26th. JPMorgan Chase & Co. reissued a “buy” rating on shares of Celgene in a research report on Thursday, October 11th. Mizuho reissued a “buy” rating and set a $129.00 price objective on shares of Celgene in a research report on Tuesday, July 31st. Cantor Fitzgerald started coverage on shares of Celgene in a research report on Monday, October 1st. They set an “overweight” rating and a $100.00 price objective for the company. Finally, BidaskClub downgraded shares of Celgene from a “buy” rating to a “hold” rating in a research report on Thursday, September 13th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $118.39.

In related news, Director John H. Weiland purchased 5,575 shares of the firm’s stock in a transaction on Tuesday, August 7th. The shares were acquired at an average price of $89.73 per share, for a total transaction of $500,244.75. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Ernest Mario sold 12,000 shares of the business’s stock in a transaction on Thursday, August 9th. The stock was sold at an average price of $92.32, for a total transaction of $1,107,840.00. Following the completion of the sale, the director now owns 44,413 shares in the company, valued at approximately $4,100,208.16. The disclosure for this sale can be found here. 0.39% of the stock is owned by insiders.

Shares of Celgene stock opened at $71.43 on Tuesday. The firm has a market capitalization of $50.66 billion, a P/E ratio of 10.44, a PEG ratio of 0.43 and a beta of 1.30. Celgene Co. has a fifty-two week low of $70.09 and a fifty-two week high of $110.81. The company has a quick ratio of 1.99, a current ratio of 2.13 and a debt-to-equity ratio of 4.06.

Celgene (NASDAQ:CELG) last announced its quarterly earnings results on Thursday, October 25th. The biopharmaceutical company reported $2.29 EPS for the quarter, topping the consensus estimate of $2.02 by $0.27. The business had revenue of $3.89 billion for 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%. On average, sell-side analysts forecast that Celgene Co. will post 7.76 EPS for the current year.

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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