Dynamic Capital Management Ltd Sells 20,301 Shares of Celgene Corporation (NASDAQ:CELG)
Dynamic Capital Management Ltd decreased its position in Celgene Corporation (NASDAQ:CELG) by 58.0% during the first quarter, Holdings Channel reports. The firm owned 14,683 shares of the biopharmaceutical company’s stock after selling 20,301 shares during the period. Dynamic Capital Management Ltd’s holdings in Celgene Corporation were worth $1,827,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently made changes to their positions in the company. Swiss National Bank increased its stake in shares of Celgene Corporation by 27.2% in the first quarter. Swiss National Bank now owns 2,746,896 shares of the biopharmaceutical company’s stock worth $341,796,000 after buying an additional 588,000 shares in the last quarter. Edge Wealth Management LLC increased its stake in shares of Celgene Corporation by 10.5% in the first quarter. Edge Wealth Management LLC now owns 15,920 shares of the biopharmaceutical company’s stock worth $1,979,000 after buying an additional 1,518 shares in the last quarter. Boston Partners increased its stake in shares of Celgene Corporation by 0.3% in the first quarter. Boston Partners now owns 197,861 shares of the biopharmaceutical company’s stock worth $24,620,000 after buying an additional 541 shares in the last quarter. Catawba Capital Management VA increased its stake in shares of Celgene Corporation by 12.0% in the first quarter. Catawba Capital Management VA now owns 2,425 shares of the biopharmaceutical company’s stock worth $302,000 after buying an additional 260 shares in the last quarter. Finally, Chicago Equity Partners LLC increased its stake in shares of Celgene Corporation by 148.8% in the first quarter. Chicago Equity Partners LLC now owns 86,480 shares of the biopharmaceutical company’s stock worth $10,761,000 after buying an additional 51,715 shares in the last quarter. Institutional investors own 78.41% of the company’s stock.
Celgene Corporation (CELG) traded down 0.87% during trading on Thursday, reaching $134.39. The company’s stock had a trading volume of 130,552 shares. The company has a 50-day moving average of $134.30 and a 200 day moving average of $124.13. Celgene Corporation has a one year low of $96.93 and a one year high of $139.00. The firm has a market cap of $105.14 billion, a PE ratio of 41.62 and a beta of 1.89.
Celgene Corporation (NASDAQ:CELG) last posted its quarterly earnings results on Thursday, July 27th. The biopharmaceutical company reported $1.82 EPS for the quarter, beating the Zacks’ consensus estimate of $1.61 by $0.21. Celgene Corporation had a net margin of 21.35% and a return on equity of 68.51%. The firm had revenue of $3.27 billion for the quarter, compared to analysts’ expectations of $3.23 billion. During the same quarter in the prior year, the company posted $1.44 earnings per share. The business’s revenue for the quarter was up 18.7% on a year-over-year basis. Analysts expect that Celgene Corporation will post $7.32 EPS for the current fiscal year.
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A number of equities research analysts recently issued reports on the company. Jefferies Group LLC set a $154.00 price target on Celgene Corporation and gave the stock a “buy” rating in a research report on Saturday, May 13th. BTIG Research downgraded Celgene Corporation from a “buy” rating to a “neutral” rating and raised their target price for the company from $96.93 to $131.70 in a report on Friday, June 30th. Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and issued a $175.00 target price on shares of Celgene Corporation in a report on Wednesday. Robert W. Baird reaffirmed an “outperform” rating and issued a $162.00 target price on shares of Celgene Corporation in a report on Monday, May 22nd. Finally, SunTrust Banks, Inc. set a $150.00 target price on Celgene Corporation and gave the company a “buy” rating in a report on Thursday, July 6th. One research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-three have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $147.06.
In other news, insider Rupert Vessey sold 4,785 shares of the stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $120.18, for a total transaction of $575,061.30. Following the sale, the insider now owns 4,004 shares in the company, valued at $481,200.72. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Gilla Kaplan sold 7,500 shares of the stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $134.52, for a total transaction of $1,008,900.00. Following the sale, the director now owns 76,301 shares in the company, valued at approximately $10,264,010.52. The disclosure for this sale can be found here. In the last quarter, insiders have sold 235,255 shares of company stock worth $31,377,042. Corporate insiders own 0.95% of the company’s stock.
About Celgene Corporation
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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