Municipal Employees Retirement System of Michigan increased its stake in shares of Celgene Corporation (NASDAQ:CELG) by 72.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,570 shares of the biopharmaceutical company’s stock after buying an additional 20,050 shares during the quarter. Municipal Employees Retirement System of Michigan’s holdings in Celgene Corporation were worth $6,178,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in CELG. Westwood Management Corp IL grew its holdings in Celgene Corporation by 102.0% during the first quarter. Westwood Management Corp IL now owns 213,330 shares of the biopharmaceutical company’s stock worth $26,545,000 after buying an additional 107,700 shares in the last quarter. V Wealth Management LLC purchased a new position in Celgene Corporation in the first quarter worth $1,252,000. Northern Capital Management LLC boosted its position in Celgene Corporation by 7.4% in the first quarter. Northern Capital Management LLC now owns 7,145 shares of the biopharmaceutical company’s stock worth $889,000 after purchasing an additional 490 shares during the last quarter. Factory Mutual Insurance Co. boosted its position in Celgene Corporation by 1.9% in the first quarter. Factory Mutual Insurance Co. now owns 806,700 shares of the biopharmaceutical company’s stock worth $100,378,000 after purchasing an additional 15,000 shares during the last quarter. Finally, Candriam Luxembourg S.C.A. boosted its position in Celgene Corporation by 99.5% in the first quarter. Candriam Luxembourg S.C.A. now owns 733,119 shares of the biopharmaceutical company’s stock worth $91,226,000 after purchasing an additional 365,647 shares during the last quarter. Institutional investors and hedge funds own 79.43% of the company’s stock.

Celgene Corporation (NASDAQ CELG) opened at 141.26 on Thursday. The company has a market capitalization of $110.51 billion, a price-to-earnings ratio of 43.75 and a beta of 1.89. Celgene Corporation has a 52 week low of $96.93 and a 52 week high of $142.64. The firm has a 50-day moving average price of $134.52 and a 200-day moving average price of $127.11.

Celgene Corporation (NASDAQ:CELG) last released its 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 company had revenue of $3.27 billion for the quarter, compared to the consensus estimate of $3.23 billion. Celgene Corporation had a return on equity of 68.51% and a net margin of 21.35%. Celgene Corporation’s quarterly revenue was up 18.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.44 earnings per share. Analysts anticipate that Celgene Corporation will post $7.32 EPS for the current fiscal year.

Several research firms have weighed in on CELG. Oppenheimer Holdings, Inc. reissued an “outperform” rating and issued a $175.00 price objective on shares of Celgene Corporation in a research report on Wednesday, August 9th. Vetr raised Celgene Corporation from a “buy” rating to a “strong-buy” rating and set a $148.32 price objective on the stock in a research report on Wednesday, August 16th. Bank of America Corporation reissued a “buy” rating on shares of Celgene Corporation in a research report on Wednesday. SunTrust Banks, Inc. reissued a “buy” rating and issued a $150.00 price objective on shares of Celgene Corporation in a research report on Friday, July 14th. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $160.00 price objective on shares of Celgene Corporation in a research report on Monday, July 31st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-two have assigned a buy rating to the company’s stock. Celgene Corporation has an average rating of “Buy” and a consensus price target of $147.31.

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In other news, Director Michael D. Casey sold 9,250 shares of the business’s stock in a transaction dated Monday, June 19th. The stock was sold at an average price of $125.59, for a total value of $1,161,707.50. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Robert J. Hugin sold 175,970 shares of the business’s stock in a transaction dated Thursday, June 22nd. The shares were sold at an average price of $134.14, for a total value of $23,604,615.80. Following the completion of the transaction, 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 sold 258,226 shares of company stock worth $34,503,411 over the last 90 days. Company insiders own 0.95% of the company’s stock.

Celgene Corporation 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.

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

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