Wedgewood Partners Inc. purchased a new stake in Celgene Corporation (NASDAQ:CELG) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 192,000 shares of the biopharmaceutical company’s stock, valued at approximately $23,890,000. Celgene Corporation makes up about 0.6% of Wedgewood Partners Inc.’s portfolio, making the stock its 20th biggest holding.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Diversified Trust Co lifted its position in Celgene Corporation by 0.4% in the 1st quarter. Diversified Trust Co now owns 2,342 shares of the biopharmaceutical company’s stock valued at $291,000 after acquiring an additional 9 shares in the last quarter. South Texas Money Management Ltd. increased its stake in Celgene Corporation by 0.6% in the 1st quarter. South Texas Money Management Ltd. now owns 2,453 shares of the biopharmaceutical company’s stock valued at $305,000 after buying an additional 15 shares during the last quarter. Keel Point LLC increased its stake in Celgene Corporation by 0.9% in the 1st quarter. Keel Point LLC now owns 3,103 shares of the biopharmaceutical company’s stock valued at $386,000 after buying an additional 28 shares during the last quarter. Steinberg Global Asset Management increased its stake in Celgene Corporation by 0.6% in the 1st quarter. Steinberg Global Asset Management now owns 6,594 shares of the biopharmaceutical company’s stock valued at $820,000 after buying an additional 39 shares during the last quarter. Finally, Cadence Bank NA increased its stake in Celgene Corporation by 0.6% in the 1st quarter. Cadence Bank NA now owns 7,496 shares of the biopharmaceutical company’s stock valued at $933,000 after buying an additional 45 shares during the last quarter. 79.43% of the stock is currently owned by institutional investors and hedge funds.

In other Celgene Corporation news, Director Michael D. Casey sold 9,250 shares of Celgene Corporation stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $139.03, for a total transaction of $1,286,027.50. Following the completion of the sale, the director now directly owns 9,250 shares in the company, valued at approximately $1,286,027.50. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Gilla Kaplan sold 7,500 shares of Celgene Corporation stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $134.52, for a total transaction of $1,008,900.00. Following the sale, the director now owns 76,301 shares of the company’s stock, valued at $10,264,010.52. The disclosure for this sale can be found here. Insiders sold a total of 263,011 shares of company stock valued at $35,078,473 over the last quarter. 0.95% of the stock is owned by company insiders.

CELG has been the subject of several analyst reports. Vetr lowered shares of Celgene Corporation from a “strong-buy” rating to a “buy” rating and set a $146.88 price objective for the company. in a research note on Tuesday, August 29th. Cantor Fitzgerald reiterated a “buy” rating on shares of Celgene Corporation in a research note on Monday, August 28th. BTIG Research reiterated a “buy” rating and issued a $138.00 price objective on shares of Celgene Corporation in a research note on Wednesday, May 24th. Argus upgraded shares of Celgene Corporation from a “hold” rating to a “buy” rating and increased their price objective for the company from $96.93 to $160.00 in a research note on Monday, July 31st. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $160.00 price objective on shares of Celgene Corporation in a research note on Tuesday, July 11th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-two have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $147.31.

Celgene Corporation (CELG) traded down 0.89% during trading on Friday, hitting $140.50. 3,675,872 shares of the company’s stock were exchanged. The company has a market cap of $109.92 billion, a price-to-earnings ratio of 43.51 and a beta of 1.89. The firm has a 50 day moving average price of $134.31 and a 200 day moving average price of $126.68. Celgene Corporation has a 52-week low of $96.93 and a 52-week high of $142.64.

Celgene Corporation (NASDAQ:CELG) last released its earnings results on Thursday, July 27th. The biopharmaceutical company reported $1.82 EPS for the quarter, topping analysts’ consensus estimates of $1.61 by $0.21. The company had revenue of $3.27 billion during the quarter, compared to analysts’ expectations of $3.23 billion. Celgene Corporation had a net margin of 21.35% and a return on equity of 68.51%. Celgene Corporation’s revenue for the quarter was up 18.7% on a year-over-year basis. During the same period last year, the business earned $1.44 EPS. On average, equities research analysts predict that Celgene Corporation will post $7.32 earnings per share for the current year.

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Celgene Corporation 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.

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Institutional Ownership by Quarter for Celgene Corporation (NASDAQ:CELG)

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