Sumitomo Life Insurance Co. Acquires 4,543 Shares of Celgene Corporation (CELG)
Sumitomo Life Insurance Co. lifted its holdings in shares of Celgene Corporation (NASDAQ:CELG) by 11.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,157 shares of the biopharmaceutical company’s stock after purchasing an additional 4,543 shares during the period. Celgene Corporation comprises approximately 0.7% of Sumitomo Life Insurance Co.’s holdings, making the stock its 28th biggest holding. Sumitomo Life Insurance Co.’s holdings in Celgene Corporation were worth $5,735,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Celgene Corporation during the 1st quarter worth approximately $118,000. Oakworth Capital Inc. increased its stake in shares of Celgene Corporation by 60.9% during the 1st quarter. Oakworth Capital Inc. now owns 1,089 shares of the biopharmaceutical company’s stock worth $136,000 after purchasing an additional 412 shares in the last quarter. Acropolis Investment Management LLC purchased a new position in shares of Celgene Corporation during the 2nd quarter worth approximately $144,000. Mitsubishi UFJ Securities Holdings Co. Ltd. increased its stake in shares of Celgene Corporation by 47.5% during the 1st quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 1,180 shares of the biopharmaceutical company’s stock worth $147,000 after purchasing an additional 380 shares in the last quarter. Finally, WealthTrust Arizona LLC increased its stake in shares of Celgene Corporation by 5.2% during the 2nd quarter. WealthTrust Arizona LLC now owns 1,276 shares of the biopharmaceutical company’s stock worth $166,000 after purchasing an additional 63 shares in the last quarter. 79.43% of the stock is owned by institutional investors and hedge funds.
In other Celgene Corporation news, insider Robert J. Hugin sold 175,970 shares of the stock in a transaction on Thursday, June 22nd. The shares were sold at an average price of $134.14, for a total value of $23,604,615.80. Following the completion of the sale, the insider now directly owns 1,033,909 shares of the company’s stock, valued at approximately $138,688,553.26. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Ernest Mario sold 18,506 shares of the stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $130.52, for a total transaction of $2,415,403.12. Following the completion of the sale, the director now directly owns 69,424 shares of the company’s stock, valued at $9,061,220.48. The disclosure for this sale can be found here. Over the last three months, insiders sold 267,476 shares of company stock valued at $35,812,841. Insiders own 0.95% of the company’s stock.
Several research firms have commented on CELG. Mizuho lifted their target price on shares of Celgene Corporation from $134.00 to $158.00 and gave the stock a “buy” rating in a research note on Friday. Royal Bank Of Canada began coverage on shares of Celgene Corporation in a research note on Thursday. They issued a “top pick” rating and a $176.00 target price for the company. Bank of America Corporation reaffirmed a “buy” rating on shares of Celgene Corporation in a research note on Wednesday. Cowen and Company reaffirmed a “buy” rating and issued a $150.00 target price on shares of Celgene Corporation in a research note on Tuesday. Finally, Vetr cut shares of Celgene Corporation from a “buy” rating to a “hold” rating and set a $145.17 target price for the company. in a research note on Wednesday, September 6th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $149.34.
Celgene Corporation (CELG) opened at 142.04 on Friday. The firm has a 50-day moving average of $134.97 and a 200-day moving average of $127.46. The firm has a market cap of $111.12 billion, a price-to-earnings ratio of 43.99 and a beta of 1.89. Celgene Corporation has a one year low of $96.93 and a one year high of $142.69.
Celgene Corporation (NASDAQ:CELG) last issued its quarterly earnings results on Thursday, July 27th. The biopharmaceutical company reported $1.82 earnings per share for the quarter, beating analysts’ consensus estimates of $1.61 by $0.21. Celgene Corporation had a net margin of 21.35% and a return on equity of 68.51%. The firm had revenue of $3.27 billion during the quarter, compared to the consensus estimate of $3.23 billion. During the same period in the prior year, the firm earned $1.44 EPS. The business’s revenue was up 18.7% on a year-over-year basis. Analysts anticipate that Celgene Corporation will post $7.33 EPS 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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