Celgene Co. (NASDAQ:CELG) Position Lowered by Steward Partners Investment Advisory LLC

Steward Partners Investment Advisory LLC decreased its position in shares of Celgene Co. (NASDAQ:CELG) by 25.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,498 shares of the biopharmaceutical company’s stock after selling 7,810 shares during the period. Steward Partners Investment Advisory LLC’s holdings in Celgene were worth $2,122,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Capital Management Corp VA bought a new stake in shares of Celgene during the first quarter valued at approximately $10,955,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in Celgene by 36.9% during the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 342,301 shares of the biopharmaceutical company’s stock valued at $21,938,000 after buying an additional 92,209 shares during the period. Tibra Equities Europe Ltd purchased a new position in Celgene during the first quarter valued at approximately $6,396,000. Bell Asset Management Ltd increased its holdings in Celgene by 13.7% during the fourth quarter. Bell Asset Management Ltd now owns 78,822 shares of the biopharmaceutical company’s stock valued at $5,052,000 after buying an additional 9,525 shares during the period. Finally, Global Trust Asset Management LLC increased its holdings in Celgene by 212.3% during the first quarter. Global Trust Asset Management LLC now owns 4,557 shares of the biopharmaceutical company’s stock valued at $430,000 after buying an additional 3,098 shares during the period. Institutional investors own 75.21% of the company’s stock.

Several brokerages recently issued reports on CELG. ValuEngine raised shares of Celgene from a “sell” rating to a “hold” rating in a report on Saturday, May 4th. BidaskClub raised shares of Celgene from a “buy” rating to a “strong-buy” rating in a report on Friday, May 24th. Barclays lowered shares of Celgene from an “overweight” rating to an “equal weight” rating and set a $102.00 price target on the stock. in a report on Friday, May 3rd. Mizuho set a $103.00 price objective on shares of Celgene and gave the company a “buy” rating in a report on Friday, April 5th. Finally, Cantor Fitzgerald lowered shares of Celgene from an “overweight” rating to a “neutral” rating and set a $94.00 price objective on the stock. in a report on Friday, April 5th. Eighteen equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Celgene currently has a consensus rating of “Hold” and a consensus price target of $95.56.

Shares of CELG traded down $0.49 during mid-day trading on Wednesday, hitting $93.85. 4,716,041 shares of the company were exchanged, compared to its average volume of 9,931,979. Celgene Co. has a 1-year low of $58.59 and a 1-year high of $97.07. The company has a quick ratio of 2.66, a current ratio of 2.78 and a debt-to-equity ratio of 2.42. The company has a market cap of $66.19 billion, a PE ratio of 12.33, a price-to-earnings-growth ratio of 0.44 and a beta of 1.68.

Celgene (NASDAQ:CELG) last released its quarterly earnings results on Thursday, April 25th. The biopharmaceutical company reported $2.55 earnings per share for the quarter, topping the consensus estimate of $2.45 by $0.10. Celgene had a net margin of 30.10% and a return on equity of 106.69%. The firm had revenue of $4.03 billion during the quarter, compared to the consensus estimate of $4.01 billion. During the same quarter in the prior year, the firm earned $2.05 EPS. The company’s revenue for the quarter was up 13.8% on a year-over-year basis. As a group, sell-side analysts expect that Celgene Co. will post 9.85 earnings per share for the current year.

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About Celgene

Celgene Corporation, a biopharmaceutical company, discovers, develops, and commercializes therapies for the treatment of cancer and inflammatory diseases worldwide. It offers REVLIMID, an oral immunomodulatory drug for multiple myeloma (MM), myelodysplastic syndromes (MDS), and mantle cell lymphoma; POMALYST/IMNOVID to treat multiple myeloma; OTEZLA, a small-molecule inhibitor of phosphodiesterase 4 for psoriatic arthritis and psoriasis; and ABRAXANE to treat breast, non-small cell lung, pancreatic, and gastric cancers.

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Institutional Ownership by Quarter for Celgene (NASDAQ:CELG)

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