ZWJ Investment Counsel Inc. Sells 14,039 Shares of Celgene Co. (NASDAQ:CELG)

ZWJ Investment Counsel Inc. lowered its stake in Celgene Co. (NASDAQ:CELG) by 6.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 219,740 shares of the biopharmaceutical company’s stock after selling 14,039 shares during the period. Celgene accounts for approximately 1.6% of ZWJ Investment Counsel Inc.’s holdings, making the stock its 28th biggest holding. ZWJ Investment Counsel Inc.’s holdings in Celgene were worth $20,313,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in CELG. Archford Capital Strategies LLC boosted its holdings in shares of Celgene by 277.8% during the 1st quarter. Archford Capital Strategies LLC now owns 272 shares of the biopharmaceutical company’s stock valued at $26,000 after buying an additional 200 shares in the last quarter. Investors Research Corp purchased a new position in shares of Celgene in the 1st quarter worth about $28,000. Weaver Consulting Group purchased a new position in shares of Celgene in the 1st quarter worth about $29,000. Alera Investment Advisors LLC raised its position in shares of Celgene by 109.9% in the 1st quarter. Alera Investment Advisors LLC now owns 319 shares of the biopharmaceutical company’s stock worth $30,000 after purchasing an additional 167 shares during the last quarter. Finally, Creative Financial Designs Inc. ADV raised its position in shares of Celgene by 1,968.8% in the 1st quarter. Creative Financial Designs Inc. ADV now owns 331 shares of the biopharmaceutical company’s stock worth $31,000 after purchasing an additional 315 shares during the last quarter. Institutional investors and hedge funds own 74.84% of the company’s stock.

Several equities analysts have recently issued reports on CELG shares. ValuEngine lowered Celgene from a “sell” rating to a “strong sell” rating in a research report on Thursday. Mizuho reaffirmed a “buy” rating and issued a $103.00 price target on shares of Celgene in a research report on Wednesday, July 3rd. Cowen reaffirmed a “hold” rating and issued a $102.00 price target on shares of Celgene in a research report on Tuesday, July 30th. Barclays lowered Celgene from an “overweight” rating to an “equal weight” rating and set a $102.00 price target for the company. in a research report on Friday, May 3rd. Finally, Zacks Investment Research raised Celgene from a “sell” rating to a “hold” rating and set a $94.00 price target for the company in a research report on Tuesday, July 23rd. Two analysts have rated the stock with a sell rating, sixteen have issued a hold rating and four have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $94.81.

NASDAQ:CELG traded up $0.82 during mid-day trading on Friday, reaching $93.87. The company’s stock had a trading volume of 4,136,416 shares, compared to its average volume of 3,875,716. Celgene Co. has a 12-month low of $58.59 and a 12-month high of $98.97. The firm’s fifty day simple moving average is $93.40. The company has a current ratio of 3.44, a quick ratio of 2.66 and a debt-to-equity ratio of 1.97. The stock has a market capitalization of $65.95 billion, a PE ratio of 12.34, a P/E/G ratio of 0.44 and a beta of 1.46.

Celgene (NASDAQ:CELG) last issued its earnings results on Tuesday, July 30th. The biopharmaceutical company reported $2.61 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.44 by $0.17. Celgene had a return on equity of 89.93% and a net margin of 32.24%. The business had revenue of $4.40 billion during the quarter, compared to analyst estimates of $4.22 billion. During the same quarter in the previous year, the firm earned $2.16 EPS. Celgene’s revenue was up 15.4% on a year-over-year basis. On average, sell-side analysts anticipate that Celgene Co. will post 9.96 EPS for the current year.

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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