Banco de Sabadell S.A Boosts Stake in Celgene Co. (CELG)
Banco de Sabadell S.A increased its holdings in Celgene Co. (NASDAQ:CELG) by 6.4% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 11,700 shares of the biopharmaceutical company’s stock after buying an additional 700 shares during the period. Banco de Sabadell S.A’s holdings in Celgene were worth $913,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. Edgewood Management LLC boosted its holdings in shares of Celgene by 16.2% in the 2nd quarter. Edgewood Management LLC now owns 13,924,544 shares of the biopharmaceutical company’s stock valued at $1,105,887,000 after buying an additional 1,943,607 shares during the period. FMR LLC boosted its stake in Celgene by 14.8% during the 2nd quarter. FMR LLC now owns 8,160,001 shares of the biopharmaceutical company’s stock valued at $648,067,000 after purchasing an additional 1,051,528 shares during the period. Renaissance Technologies LLC boosted its stake in Celgene by 60.6% during the 2nd quarter. Renaissance Technologies LLC now owns 4,129,438 shares of the biopharmaceutical company’s stock valued at $327,960,000 after purchasing an additional 1,558,600 shares during the period. Swedbank boosted its stake in Celgene by 25.0% during the 2nd quarter. Swedbank now owns 3,881,075 shares of the biopharmaceutical company’s stock valued at $308,235,000 after purchasing an additional 777,099 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Celgene by 11.3% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,648,481 shares of the biopharmaceutical company’s stock valued at $210,342,000 after purchasing an additional 268,597 shares during the period. 73.11% of the stock is owned by institutional investors and hedge funds.
CELG stock opened at $88.74 on Friday. Celgene Co. has a 52 week low of $74.13 and a 52 week high of $147.17. The stock has a market cap of $61.35 billion, a price-to-earnings ratio of 12.97, a P/E/G ratio of 0.52 and a beta of 1.32. The company has a debt-to-equity ratio of 5.76, a quick ratio of 1.40 and a current ratio of 1.52.
Celgene announced that its board has approved a share repurchase program on Thursday, May 24th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the biopharmaceutical company to purchase up to 5.4% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.
In other Celgene news, Director John H. Weiland bought 5,575 shares of the company’s stock in a transaction that occurred on Tuesday, August 7th. The shares were acquired at an average cost of $89.73 per share, for a total transaction of $500,244.75. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Ernest Mario sold 12,000 shares of the business’s stock in a transaction that occurred on Thursday, August 9th. The stock was sold at an average price of $92.32, for a total transaction of $1,107,840.00. Following the completion of the sale, the director now owns 44,413 shares in the company, valued at $4,100,208.16. The disclosure for this sale can be found here. 0.39% of the stock is owned by insiders.
CELG has been the subject of a number of analyst reports. Morgan Stanley boosted their target price on shares of Celgene from $90.00 to $91.00 and gave the company an “equal weight” rating in a research note on Friday, July 13th. Canaccord Genuity reissued a “buy” rating on shares of Celgene in a research note on Wednesday, May 30th. Zacks Investment Research lowered shares of Celgene from a “hold” rating to a “sell” rating in a research note on Wednesday, July 18th. Cantor Fitzgerald set a $112.00 target price on shares of Celgene and gave the company a “hold” rating in a research note on Friday, June 1st. Finally, BidaskClub raised shares of Celgene from a “hold” rating to a “buy” rating in a research note on Thursday, August 16th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating, twenty have issued a buy rating and two have issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $121.85.
Celgene Company 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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