Liberty Mutual Group Asset Management Inc. Trims Holdings in Celgene Co. (CELG)

Liberty Mutual Group Asset Management Inc. decreased its position in shares of Celgene Co. (NASDAQ:CELG) by 5.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 31,181 shares of the biopharmaceutical company’s stock after selling 1,777 shares during the quarter. Liberty Mutual Group Asset Management Inc.’s holdings in Celgene were worth $3,254,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Janus Henderson Group PLC lifted its stake in shares of Celgene by 4,290.5% in the 2nd quarter. Janus Henderson Group PLC now owns 8,408,961 shares of the biopharmaceutical company’s stock valued at $1,092,071,000 after purchasing an additional 8,217,433 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in shares of Celgene by 1,489.2% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,907,052 shares of the biopharmaceutical company’s stock valued at $247,669,000 after purchasing an additional 1,787,052 shares during the period. Jennison Associates LLC lifted its stake in shares of Celgene by 11.5% in the 3rd quarter. Jennison Associates LLC now owns 14,962,407 shares of the biopharmaceutical company’s stock valued at $2,181,818,000 after purchasing an additional 1,546,673 shares during the period. Patten Group Inc. lifted its stake in shares of Celgene by 3,874.1% in the 3rd quarter. Patten Group Inc. now owns 738,583 shares of the biopharmaceutical company’s stock valued at $2,674,000 after purchasing an additional 719,998 shares during the period. Finally, Atlantic Trust Group LLC lifted its stake in shares of Celgene by 216.2% in the 3rd quarter. Atlantic Trust Group LLC now owns 900,053 shares of the biopharmaceutical company’s stock valued at $131,246,000 after purchasing an additional 615,366 shares during the period. 78.63% of the stock is currently owned by hedge funds and other institutional investors.

A number of research analysts have recently weighed in on CELG shares. Cantor Fitzgerald set a $112.00 price target on Celgene and gave the company a “hold” rating in a research note on Wednesday, January 17th. William Blair reissued a “buy” rating on shares of Celgene in a research note on Wednesday, February 28th. BMO Capital Markets reissued a “buy” rating and issued a $147.00 price target on shares of Celgene in a research note on Friday, December 22nd. Credit Suisse Group set a $129.00 price target on Celgene and gave the company a “buy” rating in a research note on Thursday, March 1st. Finally, Zacks Investment Research downgraded Celgene from a “hold” rating to a “sell” rating in a research note on Tuesday, March 27th. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $127.68.

CELG stock opened at $89.21 on Monday. The stock has a market cap of $67,101.59, a price-to-earnings ratio of 13.00, a PEG ratio of 0.60 and a beta of 1.48. The company has a debt-to-equity ratio of 2.29, a current ratio of 4.99 and a quick ratio of 4.80. Celgene Co. has a 1 year low of $84.95 and a 1 year high of $147.17.

Celgene (NASDAQ:CELG) last released its earnings results on Thursday, January 25th. The biopharmaceutical company reported $1.87 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.78 by $0.09. The firm had revenue of $3.48 billion during the quarter, compared to analysts’ expectations of $3.46 billion. Celgene had a return on equity of 67.50% and a net margin of 22.38%. The company’s revenue was up 16.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.61 EPS. sell-side analysts forecast that Celgene Co. will post 7.66 earnings per share for the current year.

Celgene declared that its Board of Directors has authorized a stock buyback plan on Wednesday, February 14th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the biopharmaceutical company to buy shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

In other Celgene news, Director Gilla Kaplan sold 9,250 shares of the stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $95.99, for a total transaction of $887,907.50. Following the completion of the transaction, the director now owns 94,801 shares in the company, valued at approximately $9,099,947.99. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Ernest Mario sold 13,370 shares of the stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $94.49, for a total value of $1,263,331.30. The disclosure for this sale can be found here. In the last quarter, insiders have sold 41,120 shares of company stock valued at $3,879,509. Corporate insiders own 0.95% of the company’s stock.

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About Celgene

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.

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Institutional Ownership by Quarter for Celgene (NASDAQ:CELG)

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