Celgene Co. (CELG) Stake Increased by Covington Capital Management
Covington Capital Management grew its position in Celgene Co. (NASDAQ:CELG) by 5.5% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 91,741 shares of the biopharmaceutical company’s stock after buying an additional 4,780 shares during the period. Covington Capital Management’s holdings in Celgene were worth $11,914,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in the company. Colony Group LLC boosted its holdings in shares of Celgene by 44.0% in the 2nd quarter. Colony Group LLC now owns 3,836 shares of the biopharmaceutical company’s stock valued at $498,000 after buying an additional 1,173 shares in the last quarter. 1st Global Advisors Inc. boosted its holdings in shares of Celgene by 29.0% in the 2nd quarter. 1st Global Advisors Inc. now owns 2,564 shares of the biopharmaceutical company’s stock valued at $333,000 after buying an additional 577 shares in the last quarter. Keel Point LLC boosted its holdings in shares of Celgene by 4.5% in the 2nd quarter. Keel Point LLC now owns 3,244 shares of the biopharmaceutical company’s stock valued at $421,000 after buying an additional 141 shares in the last quarter. National Asset Management Inc. boosted its holdings in shares of Celgene by 22.8% in the 2nd quarter. National Asset Management Inc. now owns 19,115 shares of the biopharmaceutical company’s stock valued at $2,484,000 after buying an additional 3,549 shares in the last quarter. Finally, Kingfisher Capital LLC boosted its holdings in shares of Celgene by 3.5% in the 2nd quarter. Kingfisher Capital LLC now owns 10,194 shares of the biopharmaceutical company’s stock valued at $1,324,000 after buying an additional 344 shares in the last quarter. Institutional investors and hedge funds own 80.16% of the company’s stock.
In other Celgene news, insider Terrie Curran sold 1,727 shares of the firm’s stock in a transaction that occurred on Monday, September 25th. The shares were sold at an average price of $143.89, for a total transaction of $248,498.03. Following the completion of the transaction, the insider now directly owns 3,925 shares of the company’s stock, valued at approximately $564,768.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.95% of the company’s stock.
Celgene (NASDAQ:CELG) last posted its quarterly earnings results on Thursday, October 26th. The biopharmaceutical company reported $1.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.87 by $0.04. Celgene had a net margin of 27.36% and a return on equity of 63.80%. The company had revenue of $3.29 billion during the quarter, compared to analyst estimates of $3.42 billion. During the same period last year, the firm posted $1.58 EPS. Celgene’s revenue for the quarter was up 10.2% compared to the same quarter last year. equities analysts predict that Celgene Co. will post 6.67 earnings per share for the current fiscal year.
A number of analysts have recently weighed in on the stock. BidaskClub upgraded shares of Celgene from a “sell” rating to a “hold” rating in a report on Tuesday. Piper Jaffray Companies restated a “hold” rating on shares of Celgene in a report on Sunday. Cantor Fitzgerald set a $112.00 price objective on shares of Celgene and gave the company a “hold” rating in a research report on Monday. Vetr lowered shares of Celgene from a “strong-buy” rating to a “buy” rating and set a $121.72 price objective for the company. in a research report on Tuesday. Finally, Atlantic Securities raised shares of Celgene from a “neutral” rating to an “overweight” rating in a research report on Friday, December 8th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $138.81.
Celgene 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.
Want to see what other hedge funds are holding CELG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Celgene Co. (NASDAQ:CELG).
Receive News & Stock Ratings for Celgene Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Celgene and related stocks with our FREE daily email newsletter.