M&T Bank Corp Decreases Position in Celgene Corporation (CELG)
M&T Bank Corp reduced its stake in shares of Celgene Corporation (NASDAQ:CELG) by 6.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 172,288 shares of the biopharmaceutical company’s stock after selling 12,692 shares during the period. M&T Bank Corp’s holdings in Celgene Corporation were worth $21,437,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of CELG. Motco increased its position in Celgene Corporation by 306.9% in the first quarter. Motco now owns 822 shares of the biopharmaceutical company’s stock worth $102,000 after buying an additional 620 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Celgene Corporation during the first quarter worth about $118,000. Oakworth Capital Inc. increased its position in Celgene Corporation by 60.9% in the first quarter. Oakworth Capital Inc. now owns 1,089 shares of the biopharmaceutical company’s stock worth $136,000 after buying an additional 412 shares in the last quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. increased its position in Celgene Corporation by 47.5% in the first quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 1,180 shares of the biopharmaceutical company’s stock worth $147,000 after buying an additional 380 shares in the last quarter. Finally, Reilly Financial Advisors LLC increased its position in Celgene Corporation by 15.3% in the first quarter. Reilly Financial Advisors LLC now owns 1,211 shares of the biopharmaceutical company’s stock worth $151,000 after buying an additional 161 shares in the last quarter. 78.34% of the stock is owned by institutional investors and hedge funds.
Shares of Celgene Corporation (CELG) traded down 0.28% on Friday, hitting $129.68. The stock had a trading volume of 2,313,034 shares. The stock has a market capitalization of $101.46 billion, a P/E ratio of 40.16 and a beta of 1.89. Celgene Corporation has a 52 week low of $96.93 and a 52 week high of $139.00. The firm has a 50-day moving average price of $133.39 and a 200-day moving average price of $125.39.
Celgene Corporation (NASDAQ:CELG) last announced its earnings results on Thursday, July 27th. The biopharmaceutical company reported $1.82 EPS for the quarter, beating analysts’ consensus estimates of $1.61 by $0.21. Celgene Corporation had a return on equity of 68.51% and a net margin of 21.35%. The business had revenue of $3.27 billion during the quarter, compared to analysts’ expectations of $3.23 billion. During the same quarter in the prior year, the firm earned $1.44 earnings per share. The business’s revenue was up 18.7% compared to the same quarter last year. Equities analysts expect that Celgene Corporation will post $7.32 earnings per share for the current fiscal year.
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A number of equities analysts have issued reports on CELG shares. BTIG Research reaffirmed a “buy” rating and set a $138.00 price objective on shares of Celgene Corporation in a report on Monday, May 1st. Argus downgraded shares of Celgene Corporation from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $123.91 to $124.46 in a report on Friday, May 5th. They noted that the move was a valuation call. Vetr raised shares of Celgene Corporation from a “buy” rating to a “strong-buy” rating and set a $136.87 price objective on the stock in a report on Monday, May 8th. Jefferies Group LLC set a $154.00 price objective on shares of Celgene Corporation and gave the stock a “buy” rating in a report on Saturday, May 13th. Finally, Goldman Sachs Group, Inc. (The) reaffirmed a “sell” rating and set a $98.00 price objective (up from $93.00) on shares of Celgene Corporation in a report on Wednesday, May 17th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $147.44.
In other Celgene Corporation news, insider Rupert Vessey sold 4,785 shares of the stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $120.18, for a total transaction of $575,061.30. Following the completion of the transaction, the insider now owns 4,004 shares of the company’s stock, valued at $481,200.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ernest Mario sold 18,506 shares of the stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $130.52, for a total value of $2,415,403.12. Following the transaction, the director now directly owns 69,424 shares of the company’s stock, valued at approximately $9,061,220.48. The disclosure for this sale can be found here. Insiders have sold 253,761 shares of company stock valued at $33,792,445 in the last three months. Insiders own 0.95% of the company’s stock.
About Celgene Corporation
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.
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