Svenska Handelsbanken AB publ Boosts Position in Celgene Corporation (NASDAQ:CELG)
Svenska Handelsbanken AB publ boosted its position in shares of Celgene Corporation (NASDAQ:CELG) by 95.7% during the first quarter, according to its most recent disclosure with the SEC. The firm owned 9,000 shares of the biopharmaceutical company’s stock after buying an additional 4,400 shares during the period. Celgene Corporation accounts for about 1.5% of Svenska Handelsbanken AB publ’s portfolio, making the stock its 23rd largest position. Svenska Handelsbanken AB publ’s holdings in Celgene Corporation were worth $1,120,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Perigon Wealth Management LLC boosted its stake in Celgene Corporation by 16.6% in the fourth quarter. Perigon Wealth Management LLC now owns 46,254 shares of the biopharmaceutical company’s stock worth $5,720,000 after buying an additional 6,578 shares during the last quarter. Garde Capital Inc. purchased a new stake in Celgene Corporation during the fourth quarter worth about $201,000. Teachers Advisors LLC boosted its stake in Celgene Corporation by 23.0% in the fourth quarter. Teachers Advisors LLC now owns 2,102,104 shares of the biopharmaceutical company’s stock worth $243,319,000 after buying an additional 393,395 shares during the last quarter. Kentucky Retirement Systems purchased a new stake in Celgene Corporation during the fourth quarter worth about $6,511,000. Finally, Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in Celgene Corporation during the fourth quarter worth about $2,905,000. 78.41% of the stock is owned by hedge funds and other institutional investors.
Shares of Celgene Corporation (NASDAQ:CELG) opened at 136.70 on Monday. The firm’s 50-day moving average price is $132.00 and its 200-day moving average price is $123.32. The firm has a market capitalization of $106.95 billion, a P/E ratio of 42.34 and a beta of 1.89. Celgene Corporation has a 12-month low of $96.93 and a 12-month high of $139.00.
Celgene Corporation (NASDAQ:CELG) last released its quarterly earnings results on Thursday, July 27th. The biopharmaceutical company reported $1.82 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.61 by $0.21. The firm had revenue of $3.27 billion for the quarter, compared to analysts’ expectations of $3.23 billion. Celgene Corporation had a net margin of 21.35% and a return on equity of 68.51%. The business’s revenue was up 18.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.44 EPS. Equities analysts predict that Celgene Corporation will post $7.32 earnings per share for the current fiscal year.
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CELG has been the subject of a number of research reports. Jefferies Group LLC reissued a “buy” rating and set a $154.00 price objective on shares of Celgene Corporation in a research report on Tuesday, April 11th. Robert W. Baird reissued an “outperform” rating and set a $162.00 price objective on shares of Celgene Corporation in a research report on Wednesday, April 19th. Barclays PLC reissued an “equal weight” rating and set a $125.00 price objective (up previously from $120.00) on shares of Celgene Corporation in a research report on Sunday, April 23rd. Cann reissued a “buy” rating on shares of Celgene Corporation in a research report on Thursday, April 27th. Finally, Cantor Fitzgerald set a $159.00 price objective on Celgene Corporation and gave the company a “buy” rating in a research report on Thursday, April 27th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-three have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $147.06.
In other news, Director Michael D. Casey sold 9,250 shares of the firm’s stock in a transaction that occurred on Monday, June 19th. The shares were sold at an average price of $125.59, for a total transaction of $1,161,707.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Gilla Kaplan sold 7,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $134.52, for a total transaction of $1,008,900.00. Following the transaction, the director now directly owns 76,301 shares in the company, valued at $10,264,010.52. The disclosure for this sale can be found here. Over the last three months, insiders sold 235,255 shares of company stock worth $31,377,042. Insiders own 0.95% of the company’s stock.
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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