Celgene Co. (CELG) Holdings Trimmed by Jag Capital Management LLC

Jag Capital Management LLC reduced its stake in shares of Celgene Co. (NASDAQ:CELG) by 48.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,577 shares of the biopharmaceutical company’s stock after selling 11,033 shares during the period. Jag Capital Management LLC’s holdings in Celgene were worth $1,092,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in CELG. BlackRock Inc. boosted its holdings in shares of Celgene by 2.8% in the 4th quarter. BlackRock Inc. now owns 53,650,909 shares of the biopharmaceutical company’s stock valued at $3,438,486,000 after buying an additional 1,459,100 shares during the period. Oregon Public Employees Retirement Fund boosted its holdings in shares of Celgene by 9,691.4% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 16,495,997 shares of the biopharmaceutical company’s stock valued at $257,000 after buying an additional 16,327,522 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Celgene by 8.6% in the 4th quarter. Geode Capital Management LLC now owns 9,942,267 shares of the biopharmaceutical company’s stock valued at $636,179,000 after buying an additional 787,638 shares during the period. Norges Bank acquired a new position in shares of Celgene in the 4th quarter valued at about $484,390,000. Finally, Clearbridge Investments LLC boosted its holdings in shares of Celgene by 9.2% in the 3rd quarter. Clearbridge Investments LLC now owns 7,133,588 shares of the biopharmaceutical company’s stock valued at $638,385,000 after buying an additional 598,631 shares during the period. 74.92% of the stock is owned by institutional investors.

In related news, Director Ernest Mario purchased 2,000 shares of the company’s stock in a transaction on Tuesday, February 12th. The shares were bought at an average cost of $89.99 per share, for a total transaction of $179,980.00. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, Director James J. Loughlin sold 23,466 shares of the business’s stock in a transaction dated Thursday, February 7th. The stock was sold at an average price of $87.29, for a total transaction of $2,048,347.14. Following the sale, the director now owns 62,102 shares in the company, valued at $5,420,883.58. The disclosure for this sale can be found here. 0.39% of the stock is currently owned by insiders.

Several brokerages recently weighed in on CELG. Zacks Investment Research downgraded shares of Celgene from a “buy” rating to a “hold” rating in a research report on Wednesday, April 3rd. ValuEngine upgraded shares of Celgene from a “sell” rating to a “hold” rating in a research report on Saturday, March 30th. Mizuho set a $103.00 price objective on shares of Celgene and gave the company a “buy” rating in a research report on Friday, April 5th. Atlantic Securities downgraded shares of Celgene from an “overweight” rating to a “neutral” rating and set a $94.34 price objective on the stock. in a research report on Monday, April 1st. Finally, UBS Group downgraded shares of Celgene from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $94.00 to $102.00 in a research report on Monday, April 1st. One investment analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and nine have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $99.41.

Shares of CELG stock traded up $0.96 during midday trading on Monday, reaching $95.10. 6,663,550 shares of the company were exchanged, compared to its average volume of 11,861,032. Celgene Co. has a 12 month low of $58.59 and a 12 month high of $95.30. The company has a market capitalization of $66.18 billion, a price-to-earnings ratio of 12.50, a price-to-earnings-growth ratio of 0.43 and a beta of 1.71. The company has a current ratio of 2.23, a quick ratio of 2.12 and a debt-to-equity ratio of 3.21.

Celgene (NASDAQ:CELG) last released its quarterly earnings results on Thursday, January 31st. The biopharmaceutical company reported $2.39 EPS for the quarter, topping analysts’ consensus estimates of $2.32 by $0.07. Celgene had a net margin of 26.48% and a return on equity of 114.66%. The company had revenue of $4.04 billion for the quarter, compared to the consensus estimate of $3.98 billion. During the same period in the previous year, the firm earned $2.00 EPS. On average, equities research analysts predict that Celgene Co. will post 10.01 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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