Celgene (CELG) Stake Increased by Cornerstone Capital Management Holdings LLC.
Cornerstone Capital Management Holdings LLC. grew its holdings in shares of Celgene (NASDAQ:CELG) by 7.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 229,204 shares of the biopharmaceutical company’s stock after acquiring an additional 15,570 shares during the period. Cornerstone Capital Management Holdings LLC.’s holdings in Celgene were worth $23,919,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in CELG. Virtue Capital Management LLC acquired a new position in Celgene in the fourth quarter worth about $101,000. Arcadia Investment Management Corp MI grew its stake in Celgene by 118.7% in the third quarter. Arcadia Investment Management Corp MI now owns 737 shares of the biopharmaceutical company’s stock worth $107,000 after purchasing an additional 400 shares in the last quarter. Robecosam AG acquired a new position in Celgene in the third quarter worth about $114,000. Guidant Wealth Advisors acquired a new position in Celgene in the third quarter worth about $119,000. Finally, American Beacon Advisors Inc. bought a new position in Celgene in the fourth quarter worth about $120,000. Institutional investors own 78.53% of the company’s stock.
In other news, insider Mark J. Alles bought 3,260 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The shares were purchased at an average price of $91.90 per share, with a total value of $299,594.00. Following the completion of the acquisition, the insider now directly owns 178,904 shares in the company, valued at $16,441,277.60. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James J. Loughlin sold 9,250 shares of the business’s stock in a transaction that occurred on Monday, March 12th. The stock was sold at an average price of $92.01, for a total value of $851,092.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 41,120 shares of company stock worth $3,879,509. 0.95% of the stock is owned by corporate insiders.
Shares of NASDAQ:CELG 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 market cap of $67,244.50, a P/E ratio of 13.24, a PEG ratio of 0.60 and a beta of 1.48. The company has a current ratio of 4.99, a quick ratio of 4.80 and a debt-to-equity ratio of 2.29.
Celgene (NASDAQ:CELG) last announced its earnings results on Thursday, January 25th. The biopharmaceutical company reported $1.87 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.78 by $0.09. Celgene had a return on equity of 67.50% and a net margin of 22.38%. The firm had revenue of $3.48 billion for the quarter, compared to analysts’ expectations of $3.46 billion. During the same quarter in the previous year, the company earned $1.61 earnings per share. The firm’s quarterly revenue was up 16.9% compared to the same quarter last year. analysts anticipate that Celgene will post 7.66 earnings per share for the current fiscal year.
Celgene announced that its Board of Directors has approved a stock buyback program on Wednesday, February 14th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the biopharmaceutical company to buy shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its shares are undervalued.
TRADEMARK VIOLATION NOTICE: This article was first posted by Daily Political and is the property of of Daily Political. If you are reading this article on another publication, it was copied illegally and reposted in violation of US and international copyright laws. The original version of this article can be read at https://www.dailypolitical.com/2018/04/17/celgene-celg-stake-increased-by-cornerstone-capital-management-holdings-llc.html.
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.
Receive News & Ratings for Celgene Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Celgene and related companies with MarketBeat.com's FREE daily email newsletter.