Celgene Corporation (NASDAQ:CELG) Shares Bought by Sheets Smith Wealth Management

Sheets Smith Wealth Management raised its position in Celgene Corporation (NASDAQ:CELG) by 2.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 32,641 shares of the biopharmaceutical company’s stock after buying an additional 842 shares during the period. Celgene Corporation makes up about 1.1% of Sheets Smith Wealth Management’s investment portfolio, making the stock its 18th largest position. Sheets Smith Wealth Management’s holdings in Celgene Corporation were worth $4,239,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Capital Investment Services of America Inc. acquired a new position in shares of Celgene Corporation during the first quarter valued at $203,000. Private Asset Management Inc. boosted its position in shares of Celgene Corporation by 3.2% in the first quarter. Private Asset Management Inc. now owns 1,832 shares of the biopharmaceutical company’s stock valued at $228,000 after buying an additional 57 shares in the last quarter. First Financial Bank N.A. Trust Division boosted its position in shares of Celgene Corporation by 26.0% in the first quarter. First Financial Bank N.A. Trust Division now owns 2,420 shares of the biopharmaceutical company’s stock valued at $301,000 after buying an additional 500 shares in the last quarter. Park National Corp OH boosted its position in shares of Celgene Corporation by 22.3% in the first quarter. Park National Corp OH now owns 3,752 shares of the biopharmaceutical company’s stock valued at $467,000 after buying an additional 684 shares in the last quarter. Finally, Pensionfund DSM Netherlands acquired a new position in shares of Celgene Corporation during the first quarter valued at $5,363,000. 78.34% of the stock is owned by institutional investors and hedge funds.

Celgene Corporation (NASDAQ:CELG) opened at 127.65 on Friday. The firm has a market capitalization of $99.87 billion, a price-to-earnings ratio of 39.53 and a beta of 1.89. The firm has a 50-day moving average price of $133.74 and a 200 day moving average price of $124.92. Celgene Corporation has a 52 week low of $96.93 and a 52 week high of $139.00.

Celgene Corporation (NASDAQ:CELG) last issued its quarterly earnings data on Thursday, July 27th. The biopharmaceutical company reported $1.82 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.61 by $0.21. The firm had revenue of $3.27 billion for the quarter, compared to analyst estimates of $3.23 billion. Celgene Corporation had a return on equity of 68.51% and a net margin of 21.35%. The business’s quarterly revenue was up 18.7% compared to the same quarter last year. During the same period last year, the company earned $1.44 EPS. On average, equities research analysts forecast that Celgene Corporation will post $7.32 earnings per share for the current fiscal year.

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Several equities analysts have recently weighed in on the stock. Jefferies Group LLC set a $154.00 price target on shares of Celgene Corporation and gave the stock a “buy” rating in a research note on Saturday, May 13th. BTIG Research cut shares of Celgene Corporation from a “buy” rating to a “neutral” rating and raised their price target for the stock from $96.93 to $131.70 in a research note on Friday, June 30th. Vetr raised shares of Celgene Corporation from a “buy” rating to a “strong-buy” rating and set a $148.32 target price for the company in a research note on Thursday, August 10th. Robert W. Baird reissued an “outperform” rating and issued a $162.00 target price on shares of Celgene Corporation in a research note on Monday, May 22nd. Finally, SunTrust Banks, Inc. set a $150.00 target price on shares of Celgene Corporation and gave the company a “buy” rating in a research note on Thursday, July 6th. One analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $147.00.

In other Celgene Corporation news, Director Michael D. Casey sold 9,250 shares of Celgene Corporation stock in a transaction on Monday, June 19th. The stock was sold at an average price of $125.59, for a total transaction of $1,161,707.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ernest Mario sold 18,506 shares of Celgene Corporation stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $130.52, for a total value of $2,415,403.12. Following the transaction, the director now owns 69,424 shares of the company’s stock, valued at approximately $9,061,220.48. The disclosure for this sale can be found here. Insiders have sold 253,761 shares of company stock valued at $33,792,445 in the last quarter. 0.95% of the stock is owned by company insiders.

About Celgene Corporation

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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