RiverPoint Capital Management LLC Has $11.78 Million Stake in Celgene Co. (CELG)

RiverPoint Capital Management LLC trimmed its holdings in Celgene Co. (NASDAQ:CELG) by 9.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 112,866 shares of the biopharmaceutical company’s stock after selling 11,345 shares during the period. RiverPoint Capital Management LLC’s holdings in Celgene were worth $11,779,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Arcadia Investment Management Corp MI raised its position in Celgene by 118.7% during the third quarter. Arcadia Investment Management Corp MI now owns 737 shares of the biopharmaceutical company’s stock valued at $107,000 after purchasing an additional 400 shares in the last quarter. Robecosam AG acquired a new position in Celgene during the third quarter valued at approximately $114,000. Capital Bank & Trust Co raised its position in Celgene by 166.8% during the third quarter. Capital Bank & Trust Co now owns 827 shares of the biopharmaceutical company’s stock valued at $121,000 after purchasing an additional 517 shares in the last quarter. Guidant Wealth Advisors acquired a new position in Celgene during the third quarter valued at approximately $119,000. Finally, Balentine LLC raised its position in Celgene by 83.5% during the second quarter. Balentine LLC now owns 1,057 shares of the biopharmaceutical company’s stock valued at $137,000 after purchasing an additional 481 shares in the last quarter. Institutional investors own 78.63% of the company’s stock.

In related news, Director Gilla Kaplan sold 9,250 shares of the business’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $95.99, for a total value of $887,907.50. Following the transaction, the director now owns 94,801 shares in the company, valued at $9,099,947.99. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Mark J. Alles bought 3,260 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The stock was purchased at an average price of $91.90 per share, for a total transaction of $299,594.00. Following the acquisition, the insider now owns 178,904 shares of the company’s stock, valued at $16,441,277.60. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 41,120 shares of company stock worth $3,879,509. 0.95% of the stock is owned by company insiders.

A number of research firms have weighed in on CELG. Leerink Swann set a $123.00 target price on shares of Celgene and gave the stock a “buy” rating in a research note on Wednesday, March 28th. Zacks Investment Research cut shares of Celgene from a “hold” rating to a “sell” rating in a research note on Tuesday, March 27th. Goldman Sachs decreased their target price on shares of Celgene from $97.00 to $85.00 and set a “sell” rating on the stock in a research note on Monday, March 26th. JPMorgan Chase began coverage on shares of Celgene in a research note on Wednesday, March 21st. They set an “overweight” rating and a $110.00 target price on the stock. Finally, BidaskClub cut shares of Celgene from a “sell” rating to a “strong sell” rating in a research note on Thursday, March 15th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $127.68.

CELG stock opened at $89.21 on Monday. The firm has a market capitalization of $67,101.59, a P/E ratio of 13.00, a PEG ratio of 0.60 and a beta of 1.48. The company has a current ratio of 4.99, a quick ratio of 4.80 and a debt-to-equity ratio of 2.29. Celgene Co. has a 12-month low of $84.95 and a 12-month 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, beating the consensus estimate of $1.78 by $0.09. The business had revenue of $3.48 billion for the quarter, compared to analyst estimates of $3.46 billion. Celgene had a net margin of 22.38% and a return on equity of 67.50%. Celgene’s revenue for the quarter was up 16.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.61 earnings per share. equities analysts anticipate that Celgene Co. will post 7.66 earnings per share for the current fiscal year.

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

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Celgene 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 (NASDAQ:CELG)

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