Meyer Handelman Co. Maintains Position in Celgene Corporation (CELG)
Meyer Handelman Co. continued to hold its stake in shares of Celgene Corporation (NASDAQ:CELG) during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 2,100 shares of the biopharmaceutical company’s stock at the end of the second quarter. Meyer Handelman Co.’s holdings in Celgene Corporation were worth $273,000 as of its most recent filing with the SEC.
Several other large investors also recently modified their holdings of CELG. Private Asset Management Inc. increased its position in Celgene Corporation by 3.2% in the first quarter. Private Asset Management Inc. now owns 1,832 shares of the biopharmaceutical company’s stock valued at $228,000 after buying an additional 57 shares during the period. Capital Investment Services of America Inc. acquired a new position in Celgene Corporation during the first quarter valued at approximately $203,000. Bridges Investment Management Inc. increased its position in Celgene Corporation by 2.8% in the first quarter. Bridges Investment Management Inc. now owns 134,645 shares of the biopharmaceutical company’s stock valued at $16,755,000 after buying an additional 3,622 shares during the period. Chevy Chase Trust Holdings Inc. increased its position in Celgene Corporation by 3.2% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 720,403 shares of the biopharmaceutical company’s stock valued at $89,640,000 after buying an additional 22,612 shares during the period. Finally, Burns J W & Co. Inc. NY increased its position in Celgene Corporation by 44.8% in the first quarter. Burns J W & Co. Inc. NY now owns 43,134 shares of the biopharmaceutical company’s stock valued at $5,367,000 after buying an additional 13,343 shares during the period. Institutional investors own 78.41% of the company’s stock.
Shares of Celgene Corporation (NASDAQ CELG) traded up 0.25% during midday trading on Friday, hitting $130.69. 1,594,420 shares of the stock were exchanged. Celgene Corporation has a 12 month low of $96.93 and a 12 month high of $139.00. The stock has a market cap of $102.25 billion, a P/E ratio of 40.47 and a beta of 1.89. The firm has a 50 day moving average of $134.23 and a 200-day moving average of $124.17.
Celgene Corporation (NASDAQ:CELG) last posted its earnings results on Thursday, July 27th. The biopharmaceutical company reported $1.82 EPS for the quarter, beating analysts’ consensus estimates of $1.61 by $0.21. The business had revenue of $3.27 billion for the quarter, compared to the consensus estimate of $3.23 billion. Celgene Corporation had a net margin of 21.35% and a return on equity of 68.51%. The company’s revenue for the quarter was up 18.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.44 EPS. Equities research analysts anticipate that Celgene Corporation will post $7.32 EPS for the current year.
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Several research analysts have commented on CELG shares. Jefferies Group LLC set a $154.00 price target on shares of Celgene Corporation and gave the company a “buy” rating in a report on Saturday, May 13th. Oppenheimer Holdings, Inc. reissued an “outperform” rating and issued a $175.00 price target on shares of Celgene Corporation in a report on Wednesday. Vetr raised shares of Celgene Corporation from a “buy” rating to a “strong-buy” rating and set a $148.32 price target for the company in a report on Thursday. SunTrust Banks, Inc. reissued a “buy” rating and issued a $150.00 price target on shares of Celgene Corporation in a report on Friday, July 14th. Finally, Argus raised shares of Celgene Corporation from a “hold” rating to a “buy” rating and raised their price target for the company from $96.93 to $160.00 in a report on Monday, July 31st. One research analyst has rated the stock with a sell rating, six have given a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company’s stock. Celgene Corporation has an average rating of “Buy” and an average price target of $147.00.
In other news, Director Gilla Kaplan sold 7,500 shares of the firm’s stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $134.52, for a total value of $1,008,900.00. Following the sale, the director now directly owns 76,301 shares in the company, valued at approximately $10,264,010.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Robert J. Hugin sold 175,970 shares of the firm’s stock in a transaction dated Thursday, June 22nd. The shares were sold at an average price of $134.14, for a total transaction of $23,604,615.80. Following the completion of the sale, the insider now owns 1,033,909 shares in the company, valued at $138,688,553.26. The disclosure for this sale can be found here. Insiders have sold a total of 235,255 shares of company stock worth $31,377,042 in the last three months. 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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