Klingenstein Fields & Co. LLC Sells 41,440 Shares of Celgene Co. (CELG)

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Klingenstein Fields & Co. LLC lessened its stake in Celgene Co. (NASDAQ:CELG) by 28.9% during the first quarter, HoldingsChannel reports. The firm owned 101,815 shares of the biopharmaceutical company’s stock after selling 41,440 shares during the period. Klingenstein Fields & Co. LLC’s holdings in Celgene were worth $9,605,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Capital Management Corp VA bought a new position in shares of Celgene in the first quarter valued at approximately $10,955,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in shares of Celgene by 36.9% in the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 342,301 shares of the biopharmaceutical company’s stock valued at $21,938,000 after purchasing an additional 92,209 shares in the last quarter. Tibra Equities Europe Ltd bought a new position in shares of Celgene in the first quarter valued at approximately $6,396,000. Bell Asset Management Ltd lifted its holdings in shares of Celgene by 13.7% in the fourth quarter. Bell Asset Management Ltd now owns 78,822 shares of the biopharmaceutical company’s stock valued at $5,052,000 after purchasing an additional 9,525 shares in the last quarter. Finally, Global Trust Asset Management LLC lifted its holdings in shares of Celgene by 212.3% in the first quarter. Global Trust Asset Management LLC now owns 4,557 shares of the biopharmaceutical company’s stock valued at $430,000 after purchasing an additional 3,098 shares in the last quarter. Institutional investors own 74.27% of the company’s stock.

Shares of CELG opened at $95.21 on Friday. The company has a debt-to-equity ratio of 2.42, a current ratio of 2.78 and a quick ratio of 2.66. The company has a market cap of $67.27 billion, a P/E ratio of 12.51, a price-to-earnings-growth ratio of 0.43 and a beta of 1.68. Celgene Co. has a 12 month low of $58.59 and a 12 month high of $95.45.

Celgene (NASDAQ:CELG) last released its earnings results on Thursday, April 25th. The biopharmaceutical company reported $2.55 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.45 by $0.10. Celgene had a return on equity of 106.69% and a net margin of 30.10%. The business had revenue of $4.03 billion during the quarter, compared to the consensus estimate of $4.01 billion. During the same period last year, the business posted $2.05 earnings per share. The business’s revenue for the quarter was up 13.8% on a year-over-year basis. On average, equities research analysts predict that Celgene Co. will post 9.85 EPS for the current year.

In other news, Director Ernest Mario bought 2,000 shares of the firm’s stock in a transaction on Tuesday, February 12th. The stock was acquired at an average cost of $89.99 per share, with a total value of $179,980.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James J. Loughlin sold 23,466 shares of the firm’s stock in a transaction on Thursday, February 7th. The stock was sold at an average price of $87.29, for a total value of $2,048,347.14. Following the completion of the sale, the director now directly owns 62,102 shares of the company’s stock, valued at $5,420,883.58. The disclosure for this sale can be found here. Company insiders own 0.39% of the company’s stock.

A number of research analysts have recently weighed in on CELG shares. Cantor Fitzgerald lowered Celgene from an “overweight” rating to a “neutral” rating and set a $94.00 target price on the stock. in a report on Friday, April 5th. ValuEngine lowered Celgene from a “hold” rating to a “sell” rating in a report on Wednesday, April 24th. BidaskClub lowered Celgene from a “hold” rating to a “sell” rating in a report on Thursday, April 25th. Cowen assumed coverage on Celgene in a research report on Tuesday, February 26th. They set a “market perform” rating and a $102.00 price target for the company. Finally, Zacks Investment Research downgraded Celgene from a “buy” rating to a “hold” rating in a research report on Wednesday, April 3rd. One investment analyst has rated the stock with a sell rating, nineteen have assigned a hold rating and seven have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $99.13.

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Celgene Profile

Celgene Corporation, a biopharmaceutical company, discovers, develops, and commercializes 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 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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