Raymond James Trust N.A. Has $3.23 Million Holdings in Celgene Co. (CELG)
Raymond James Trust N.A. grew its stake in Celgene Co. (NASDAQ:CELG) by 8.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 36,075 shares of the biopharmaceutical company’s stock after acquiring an additional 2,853 shares during the quarter. Raymond James Trust N.A.’s holdings in Celgene were worth $3,228,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. Ayalon Holdings Ltd. bought a new stake in Celgene in the second quarter worth $100,000. Atlantic Trust LLC purchased a new position in shares of Celgene in the second quarter worth $101,000. Acropolis Investment Management LLC purchased a new position in shares of Celgene in the second quarter worth $112,000. City Holding Co. purchased a new position in shares of Celgene in the second quarter worth $143,000. Finally, Sun Life Financial INC raised its stake in shares of Celgene by 528.9% in the second quarter. Sun Life Financial INC now owns 1,918 shares of the biopharmaceutical company’s stock worth $152,000 after purchasing an additional 1,613 shares during the last quarter. 73.11% of the stock is currently owned by institutional investors and hedge funds.
In related news, Director John H. Weiland purchased 5,575 shares of the business’s stock in a transaction on Tuesday, August 7th. The stock was acquired at an average price of $89.73 per share, with a total value of $500,244.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ernest Mario sold 12,000 shares of the business’s stock in a transaction dated Thursday, August 9th. The shares were sold at an average price of $92.32, for a total value of $1,107,840.00. Following the sale, the director now directly owns 44,413 shares of the company’s stock, valued at approximately $4,100,208.16. The disclosure for this sale can be found here. 0.39% of the stock is currently owned by corporate insiders.
Celgene (NASDAQ:CELG) last posted its quarterly earnings data on Thursday, July 26th. The biopharmaceutical company reported $2.16 EPS for the quarter, beating analysts’ consensus estimates of $2.11 by $0.05. The company had revenue of $3.81 billion during the quarter, compared to analysts’ expectations of $3.70 billion. Celgene had a return on equity of 87.28% and a net margin of 19.81%. Celgene’s revenue for the quarter was up 16.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.82 earnings per share. As a group, research analysts anticipate that Celgene Co. will post 7.64 earnings per share for the current year.
CELG has been the subject of several recent analyst reports. BidaskClub upgraded Celgene from a “sell” rating to a “hold” rating in a research note on Tuesday, July 10th. Mizuho restated a “buy” rating and issued a $118.00 price target on shares of Celgene in a research note on Tuesday, July 10th. Cowen restated a “buy” rating and issued a $150.00 price target on shares of Celgene in a research note on Tuesday, July 10th. Morgan Stanley boosted their price target on Celgene from $90.00 to $91.00 and gave the stock an “equal weight” rating in a research note on Friday, July 13th. Finally, Zacks Investment Research cut Celgene from a “hold” rating to a “sell” rating in a research note on Wednesday, July 18th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $119.99.
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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