Grimes & Company Inc. Maintains Stake in Celgene Corporation (NASDAQ:CELG)

Grimes & Company Inc. continued to hold its stake in shares of Celgene Corporation (NASDAQ:CELG) during the second quarter, according to its most recent disclosure with the SEC. The fund owned 1,631 shares of the biopharmaceutical company’s stock at the end of the second quarter. Grimes & Company Inc.’s holdings in Celgene Corporation were worth $212,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the company. Motco increased its stake in Celgene Corporation by 306.9% in the first quarter. Motco now owns 822 shares of the biopharmaceutical company’s stock valued at $102,000 after buying an additional 620 shares during the period. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Celgene Corporation during the first quarter valued at $118,000. Carroll Financial Associates Inc. increased its stake in Celgene Corporation by 70.9% in the first quarter. Carroll Financial Associates Inc. now owns 964 shares of the biopharmaceutical company’s stock valued at $119,000 after buying an additional 400 shares during the period. Oakworth Capital Inc. boosted its position in shares of Celgene Corporation by 60.9% in the first quarter. Oakworth Capital Inc. now owns 1,089 shares of the biopharmaceutical company’s stock valued at $136,000 after buying an additional 412 shares in the last quarter. Finally, Acropolis Investment Management LLC acquired a new position in shares of Celgene Corporation during the second quarter valued at approximately $144,000. Institutional investors and hedge funds own 78.34% of the company’s stock.

Celgene Corporation (CELG) traded up 0.05% during mid-day trading on Friday, hitting $127.65. 4,270,548 shares of the company were exchanged. The stock’s 50 day moving average is $133.74 and its 200-day moving average is $124.92. The company has a market cap of $99.87 billion, a price-to-earnings ratio of 39.53 and a beta of 1.89. Celgene Corporation has a 12-month low of $96.93 and a 12-month high of $139.00.

Celgene Corporation (NASDAQ:CELG) last issued its earnings results on Thursday, July 27th. The biopharmaceutical company reported $1.82 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.61 by $0.21. Celgene Corporation had a net margin of 21.35% and a return on equity of 68.51%. The company had revenue of $3.27 billion for the quarter, compared to the consensus estimate of $3.23 billion. During the same quarter in the previous year, the company earned $1.44 EPS. The firm’s revenue for the quarter was up 18.7% compared to the same quarter last year. Equities research analysts predict that Celgene Corporation will post $7.32 EPS for the current year.

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Several equities analysts have commented on CELG shares. Barclays PLC reissued an “equal weight” rating and issued a $125.00 price target (up previously from $120.00) on shares of Celgene Corporation in a research report on Sunday, April 23rd. Cann reaffirmed a “buy” rating on shares of Celgene Corporation in a research report on Thursday, April 27th. Cantor Fitzgerald set a $159.00 price objective on shares of Celgene Corporation and gave the stock a “buy” rating in a research report on Thursday, April 27th. BTIG Research reaffirmed a “buy” rating and set a $138.00 price objective on shares of Celgene Corporation in a research report on Monday, May 1st. Finally, Argus cut shares of Celgene Corporation from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $123.91 to $124.46 in a research report on Friday, May 5th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, six have given a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $147.00.

In related news, Director Michael D. Casey sold 9,250 shares of the company’s stock in a transaction dated Monday, June 19th. The shares were sold at an average price of $125.59, for a total transaction of $1,161,707.50. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Rupert Vessey sold 4,785 shares of the company’s stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $120.18, for a total transaction of $575,061.30. Following the transaction, the insider now owns 4,004 shares in the company, valued at approximately $481,200.72. The disclosure for this sale can be found here. Insiders sold a total of 253,761 shares of company stock worth $33,792,445 in the last 90 days. 0.95% of the stock is owned by corporate insiders.

Celgene Corporation Company Profile

Celgene Corporation is an integrated global biopharmaceutical company. The Company, together with its subsidiaries, is engaged in the discovery, development and commercialization of therapies for the treatment of cancer and inflammatory diseases through solutions in protein homeostasis, immuno-oncology, epigenetics, immunology and neuro-inflammation.

Institutional Ownership by Quarter for Celgene Corporation (NASDAQ:CELG)

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