TD Asset Management Inc. reduced its position in Celgene Corporation (NASDAQ:CELG) by 7.8% during the first quarter, Holdings Channel reports. The fund owned 581,979 shares of the biopharmaceutical company’s stock after selling 49,173 shares during the period. TD Asset Management Inc.’s holdings in Celgene Corporation were worth $72,416,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Karp Capital Management Corp purchased a new stake in shares of Celgene Corporation during the first quarter worth about $49,750,000. Allegis Investment Advisors LLC increased its stake in shares of Celgene Corporation by 71.2% in the first quarter. Allegis Investment Advisors LLC now owns 21,268 shares of the biopharmaceutical company’s stock worth $2,646,000 after buying an additional 8,844 shares during the last quarter. Montecito Bank & Trust increased its stake in shares of Celgene Corporation by 12.8% in the first quarter. Montecito Bank & Trust now owns 2,710 shares of the biopharmaceutical company’s stock worth $337,000 after buying an additional 307 shares during the last quarter. Hilton Capital Management LLC increased its stake in shares of Celgene Corporation by 6.9% in the first quarter. Hilton Capital Management LLC now owns 6,545 shares of the biopharmaceutical company’s stock worth $814,000 after buying an additional 425 shares during the last quarter. Finally, Ropes Wealth Advisors LLC increased its stake in shares of Celgene Corporation by 44.8% in the first quarter. Ropes Wealth Advisors LLC now owns 8,496 shares of the biopharmaceutical company’s stock worth $1,057,000 after buying an additional 2,627 shares during the last quarter. 78.16% of the stock is currently owned by hedge funds and other institutional investors.

Celgene Corporation (NASDAQ CELG) opened at 134.87 on Tuesday. The stock has a 50 day moving average price of $121.46 and a 200 day moving average price of $120.59. The stock has a market cap of $105.31 billion, a price-to-earnings ratio of 50.65 and a beta of 1.89. Celgene Corporation has a 52-week low of $96.93 and a 52-week high of $136.12.

Celgene Corporation (NASDAQ:CELG) last issued its quarterly earnings data on Thursday, April 27th. The biopharmaceutical company reported $1.68 earnings per share for the quarter, beating analysts’ consensus estimates of $1.47 by $0.21. Celgene Corporation had a return on equity of 70.94% and a net margin of 18.32%. The company had revenue of $2.96 billion for the quarter, compared to the consensus estimate of $3.04 billion. During the same quarter last year, the company earned $1.32 earnings per share. The firm’s revenue for the quarter was up 17.8% compared to the same quarter last year. Analysts expect that Celgene Corporation will post $7.28 EPS for the current fiscal year.

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A number of brokerages have recently issued reports on CELG. SunTrust Banks, Inc. reissued a “buy” rating and issued a $150.00 price target on shares of Celgene Corporation in a report on Friday. Vetr downgraded shares of Celgene Corporation from a “strong-buy” rating to a “buy” rating and set a $149.76 price target on the stock. in a report on Friday. Jefferies Group LLC reissued a “buy” rating and issued a $160.00 price target on shares of Celgene Corporation in a report on Tuesday, July 11th. Bank of America Corporation reissued a “buy” rating and issued a $153.00 price target on shares of Celgene Corporation in a report on Monday, July 10th. Finally, Credit Suisse Group set a $148.00 price target on shares of Celgene Corporation and gave the stock a “buy” rating in a report on Thursday, July 6th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-two have given a buy rating to the stock. Celgene Corporation presently has an average rating of “Buy” and a consensus target price of $141.00.

In other Celgene Corporation news, insider Robert J. Hugin sold 175,970 shares of the stock in a transaction dated Thursday, June 22nd. The stock was sold at an average price of $134.14, for a total value of $23,604,615.80. Following the completion of the sale, the insider now directly owns 1,033,909 shares in the company, valued at $138,688,553.26. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Rupert Vessey sold 4,785 shares of the stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $120.18, for a total value of $575,061.30. Following the completion of the sale, the insider now owns 4,004 shares of the company’s stock, valued at $481,200.72. The disclosure for this sale can be found here. Over the last quarter, insiders sold 237,005 shares of company stock valued at $31,515,142. 0.95% of the stock is currently owned by company insiders.

Celgene Corporation 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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Institutional Ownership by Quarter for Celgene Corporation (NASDAQ:CELG)

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