TIAA CREF Investment Management LLC lessened its stake in Celgene (NASDAQ:CELG) by 7.2% in the 4th quarter, HoldingsChannel reports. The fund owned 5,479,795 shares of the biopharmaceutical company’s stock after selling 423,721 shares during the period. TIAA CREF Investment Management LLC’s holdings in Celgene were worth $571,871,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Linscomb & Williams Inc. boosted its stake in shares of Celgene by 1.0% during the second quarter. Linscomb & Williams Inc. now owns 3,813 shares of the biopharmaceutical company’s stock worth $495,000 after buying an additional 36 shares during the period. Keel Point LLC boosted its stake in shares of Celgene by 4.5% during the second quarter. Keel Point LLC now owns 3,244 shares of the biopharmaceutical company’s stock worth $421,000 after buying an additional 141 shares during the period. Kingfisher Capital LLC boosted its stake in shares of Celgene by 3.5% during the second quarter. Kingfisher Capital LLC now owns 10,194 shares of the biopharmaceutical company’s stock worth $1,324,000 after buying an additional 344 shares during the period. Arcadia Investment Management Corp MI boosted its stake in shares of Celgene by 118.7% during the third quarter. Arcadia Investment Management Corp MI now owns 737 shares of the biopharmaceutical company’s stock worth $107,000 after buying an additional 400 shares during the period. Finally, CAPROCK Group Inc. boosted its stake in shares of Celgene by 8.0% during the third quarter. CAPROCK Group Inc. now owns 6,044 shares of the biopharmaceutical company’s stock worth $881,000 after buying an additional 446 shares during the period. Institutional investors own 78.53% of the company’s stock.

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In other Celgene news, Director James J. Loughlin sold 9,250 shares of the stock in a transaction dated Monday, March 12th. The shares were sold at an average price of $92.01, for a total value of $851,092.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mark J. Alles bought 3,260 shares of the company’s stock in a transaction on Thursday, February 8th. The stock was bought at an average cost of $91.90 per share, with a total value of $299,594.00. Following the completion of the acquisition, the insider now owns 178,904 shares of the company’s stock, valued at approximately $16,441,277.60. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 41,120 shares of company stock valued at $3,879,509. 0.95% of the stock is currently owned by corporate insiders.

Shares of Celgene stock opened at $90.54 on Tuesday. Celgene has a 12-month low of $84.25 and a 12-month high of $147.17. The company has a debt-to-equity ratio of 2.29, a current ratio of 4.99 and a quick ratio of 4.80. The stock has a market capitalization of $67,244.50, a price-to-earnings ratio of 13.03, a P/E/G ratio of 0.60 and a beta of 1.48.

Celgene (NASDAQ:CELG) last issued its earnings results on Thursday, January 25th. The biopharmaceutical company reported $1.87 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.78 by $0.09. Celgene had a net margin of 22.38% and a return on equity of 67.50%. The company had revenue of $3.48 billion during the quarter, compared to analysts’ expectations of $3.46 billion. During the same period last year, the company posted $1.61 earnings per share. The firm’s quarterly revenue was up 16.9% compared to the same quarter last year. sell-side analysts predict that Celgene will post 7.66 earnings per share for the current year.

Celgene declared that its Board of Directors has initiated a share buyback plan on Wednesday, February 14th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the biopharmaceutical company to repurchase shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

CELG has been the subject of several recent research reports. Vetr downgraded shares of Celgene from a “strong-buy” rating to a “buy” rating and set a $121.72 target price for the company. in a research note on Monday, December 18th. Leerink Swann reiterated a “buy” rating and set a $120.00 target price on shares of Celgene in a research note on Friday, December 22nd. BMO Capital Markets reiterated a “buy” rating and set a $147.00 target price on shares of Celgene in a research note on Friday, December 22nd. Oppenheimer set a $166.00 target price on shares of Celgene and gave the stock a “buy” rating in a research note on Friday, December 22nd. Finally, Credit Suisse Group set a $123.00 target price on shares of Celgene and gave the stock a “buy” rating in a research note on Friday, December 22nd. Four research analysts have rated the stock with a sell rating, twelve have issued a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $126.95.

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Celgene Profile

Celgene Corporation, a biopharmaceutical company, engages in the discovery, development, and commercialization of therapies for the treatment of cancer and inflammatory diseases worldwide. It offers REVLIMID, an oral immunomodulatory drug for multiple myeloma (MM), myelodysplastic syndromes (MDS), and mantle cell lymphoma; POMALYST/IMNOVID to treat multiple myeloma; OTEZLA, a small-molecule inhibitor of phosphodiesterase 4 for psoriatic arthritis and psoriasis; and ABRAXANE, a solvent-free chemotherapy product to treat breast, non-small cell lung, pancreatic, and gastric cancers.

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Institutional Ownership by Quarter for Celgene (NASDAQ:CELG)

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