Financial Gravity Wealth Inc. Invests $349,000 in Celgene Co. (CELG)

Financial Gravity Wealth Inc. acquired a new position in shares of Celgene Co. (NASDAQ:CELG) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,720 shares of the biopharmaceutical company’s stock, valued at approximately $349,000.

Other institutional investors also recently added to or reduced their stakes in the company. Asset Dedication LLC increased its stake in shares of Celgene by 35.5% in the first quarter. Asset Dedication LLC now owns 477 shares of the biopharmaceutical company’s stock valued at $44,000 after buying an additional 125 shares in the last quarter. Bowling Portfolio Management LLC increased its stake in shares of Celgene by 48.7% in the first quarter. Bowling Portfolio Management LLC now owns 73,782 shares of the biopharmaceutical company’s stock valued at $6,961,000 after buying an additional 24,155 shares in the last quarter. Selway Asset Management increased its stake in shares of Celgene by 3.6% in the first quarter. Selway Asset Management now owns 28,553 shares of the biopharmaceutical company’s stock valued at $2,694,000 after buying an additional 1,000 shares in the last quarter. Highland Capital Management LLC increased its stake in shares of Celgene by 3.8% in the first quarter. Highland Capital Management LLC now owns 48,412 shares of the biopharmaceutical company’s stock valued at $4,567,000 after buying an additional 1,768 shares in the last quarter. Finally, Gulf International Bank UK Ltd increased its stake in shares of Celgene by 0.5% in the first quarter. Gulf International Bank UK Ltd now owns 169,139 shares of the biopharmaceutical company’s stock valued at $15,956,000 after buying an additional 800 shares in the last quarter. Hedge funds and other institutional investors own 74.81% of the company’s stock.

Celgene stock opened at $93.76 on Friday. The stock has a market capitalization of $65.86 billion, a P/E ratio of 12.32, a PEG ratio of 0.43 and a beta of 1.71. Celgene Co. has a 12-month low of $58.59 and a 12-month high of $95.44. 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 posted its quarterly earnings results on Thursday, January 31st. The biopharmaceutical company reported $2.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.32 by $0.07. The business had revenue of $4.04 billion for the quarter, compared to analysts’ expectations of $3.98 billion. Celgene had a return on equity of 114.66% and a net margin of 26.48%. During the same quarter last year, the business earned $2.00 earnings per share. As a group, equities analysts predict that Celgene Co. will post 10.01 earnings per share for the current fiscal year.

In other news, Director Ernest Mario purchased 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 12th. The shares were acquired at an average price of $89.99 per share, for a total transaction of $179,980.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James J. Loughlin sold 23,466 shares of the firm’s stock in a transaction dated Thursday, February 7th. The shares were sold at an average price of $87.29, for a total value of $2,048,347.14. Following the completion of the transaction, the director now owns 62,102 shares in the company, valued at approximately $5,420,883.58. The disclosure for this sale can be found here. 0.39% of the stock is owned by company insiders.

CELG has been the subject of a number of research reports. Cantor Fitzgerald lowered Celgene from an “overweight” rating to a “neutral” rating and set a $94.00 target price for the company. in a research note on Friday, April 5th. Cowen initiated coverage on Celgene in a research note on Tuesday, February 26th. They issued a “market perform” rating and a $102.00 target price for the company. BidaskClub upgraded Celgene from a “strong sell” rating to a “sell” rating in a research note on Friday, January 4th. ValuEngine upgraded Celgene from a “sell” rating to a “hold” rating in a research note on Saturday, March 30th. Finally, Zacks Investment Research lowered Celgene from a “buy” rating to a “hold” rating in a research note on Wednesday, April 3rd. One equities research analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Celgene has an average rating of “Hold” and an average target price of $99.41.

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Celgene Profile

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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