Meridian Investment Counsel Inc. cut its stake in shares of Celgene Corporation (NASDAQ:CELG) by 3.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,984 shares of the biopharmaceutical company’s stock after selling 115 shares during the period. Meridian Investment Counsel Inc.’s holdings in Celgene Corporation were worth $371,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Bank of New York Mellon Corp boosted its stake in Celgene Corporation by 4.9% in the first quarter. Bank of New York Mellon Corp now owns 10,088,473 shares of the biopharmaceutical company’s stock valued at $1,255,309,000 after buying an additional 472,067 shares during the period. American Century Companies Inc. boosted its stake in Celgene Corporation by 4.4% in the first quarter. American Century Companies Inc. now owns 6,563,791 shares of the biopharmaceutical company’s stock valued at $816,733,000 after buying an additional 276,089 shares during the period. Norges Bank acquired a new stake in Celgene Corporation during the fourth quarter valued at approximately $694,111,000. Polen Capital Management LLC boosted its stake in Celgene Corporation by 27.0% in the fourth quarter. Polen Capital Management LLC now owns 4,352,572 shares of the biopharmaceutical company’s stock valued at $503,810,000 after buying an additional 926,521 shares during the period. Finally, Bank of Montreal Can boosted its stake in Celgene Corporation by 149.8% in the first quarter. Bank of Montreal Can now owns 3,299,988 shares of the biopharmaceutical company’s stock valued at $410,615,000 after buying an additional 1,979,061 shares during the period. 78.39% of the stock is owned by hedge funds and other institutional investors.

Shares of Celgene Corporation (CELG) traded up 0.59% during trading on Friday, hitting $136.70. The company’s stock had a trading volume of 3,197,673 shares. Celgene Corporation has a 1-year low of $96.93 and a 1-year high of $139.00. The company has a market capitalization of $106.95 billion, a P/E ratio of 42.34 and a beta of 1.89. The firm’s 50 day moving average is $132.00 and its 200-day moving average is $123.32.

Celgene Corporation (NASDAQ:CELG) last announced its quarterly earnings data on Thursday, July 27th. The biopharmaceutical company reported $1.82 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.61 by $0.21. Celgene Corporation had a return on equity of 68.51% and a net margin of 21.35%. The company had revenue of $3.27 billion for the quarter, compared to analyst estimates of $3.23 billion. During the same quarter last year, the firm earned $1.44 EPS. Celgene Corporation’s revenue for the quarter was up 18.7% compared to the same quarter last year. Analysts forecast that Celgene Corporation will post $7.32 EPS for the current fiscal year.

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Several analysts have commented on CELG shares. BTIG Research cut Celgene Corporation from a “buy” rating to a “neutral” rating and lifted their price target for the company from $96.93 to $131.70 in a report on Friday, June 30th. Leerink Swann restated an “outperform” rating and issued a $160.00 price target (up previously from $150.00) on shares of Celgene Corporation in a report on Friday, July 28th. Argus upgraded Celgene Corporation from a “hold” rating to a “buy” rating and lifted their price target for the company from $96.93 to $160.00 in a report on Monday. Credit Suisse Group set a $148.00 price target on Celgene Corporation and gave the company a “buy” rating in a report on Thursday, July 6th. Finally, Cann restated a “buy” rating on shares of Celgene Corporation in a report on Wednesday, June 7th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $147.06.

In related news, Director Gilla Kaplan sold 7,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $134.52, for a total transaction of $1,008,900.00. Following the completion of the transaction, the director now owns 76,301 shares in the company, valued at approximately $10,264,010.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Rupert Vessey sold 4,785 shares of the firm’s stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $120.18, for a total value of $575,061.30. Following the transaction, the insider now owns 4,004 shares of the company’s stock, valued at approximately $481,200.72. The disclosure for this sale can be found here. Insiders have sold a total of 235,255 shares of company stock worth $31,377,042 in the last three months. 0.95% of the stock is owned by insiders.

Celgene Corporation Company 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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