Putnam FL Investment Management Co. Sells 43,837 Shares of Celgene Co. (NASDAQ:CELG)

Putnam FL Investment Management Co. reduced its holdings in Celgene Co. (NASDAQ:CELG) by 94.4% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,620 shares of the biopharmaceutical company’s stock after selling 43,837 shares during the quarter. Putnam FL Investment Management Co.’s holdings in Celgene were worth $242,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Oregon Public Employees Retirement Fund increased its position in shares of Celgene by 4.6% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 273,716 shares of the biopharmaceutical company’s stock valued at $25,302,000 after purchasing an additional 12,071 shares during the last quarter. Capital Management Corp VA bought a new position in shares of Celgene during the 1st quarter valued at about $10,955,000. Gilman Hill Asset Management LLC increased its position in shares of Celgene by 18.6% during the 2nd quarter. Gilman Hill Asset Management LLC now owns 7,416 shares of the biopharmaceutical company’s stock valued at $686,000 after purchasing an additional 1,165 shares during the last quarter. Canyon Capital Advisors LLC purchased a new stake in Celgene during the 1st quarter valued at about $119,226,000. Finally, Ruffer LLP purchased a new stake in Celgene during the 1st quarter valued at about $226,613,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

NASDAQ CELG traded up $0.12 on Wednesday, hitting $93.69. The company’s stock had a trading volume of 190,667 shares, compared to its average volume of 3,928,913. Celgene Co. has a 52-week low of $58.59 and a 52-week high of $98.97. The company has a debt-to-equity ratio of 1.97, a quick ratio of 3.32 and a current ratio of 3.44. The firm’s 50-day simple moving average is $93.14. The firm has a market capitalization of $66.33 billion, a price-to-earnings ratio of 12.31, a P/E/G ratio of 0.44 and a beta of 1.46.

Celgene (NASDAQ:CELG) last released its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported $2.61 earnings per share for the quarter, topping the 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 analysts’ expectations of $4.22 billion. During the same quarter last year, the business posted $2.16 EPS. The business’s revenue was up 15.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Celgene Co. will post 9.96 earnings per share for the current fiscal year.

Several equities research analysts recently weighed in on the company. BidaskClub upgraded Celgene from a “strong sell” rating to a “sell” rating in a report on Saturday. Barclays cut Celgene from an “overweight” rating to an “equal weight” rating and set a $102.00 target price for the company. in a report on Friday, May 3rd. Cowen restated a “hold” rating and set a $102.00 target price on shares of Celgene in a report on Tuesday, July 30th. Zacks Investment Research upgraded Celgene from a “sell” rating to a “hold” rating and set a $94.00 target price for the company in a report on Tuesday, July 23rd. Finally, Mizuho restated a “buy” rating and set a $103.00 target price on shares of Celgene in a report on Wednesday, July 3rd. Two investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $94.81.

Celgene Company 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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