Northwestern Mutual Wealth Management Co. Reduces Position in Celgene Co. (CELG)

Northwestern Mutual Wealth Management Co. decreased its holdings in Celgene Co. (NASDAQ:CELG) by 3.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 51,250 shares of the biopharmaceutical company’s stock after selling 1,907 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Celgene were worth $4,585,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Ayalon Holdings Ltd. bought a new stake in Celgene during the 2nd quarter worth approximately $100,000. Atlantic Trust LLC bought a new stake in Celgene during the 2nd quarter worth approximately $101,000. Acropolis Investment Management LLC bought a new stake in Celgene during the 2nd quarter worth approximately $112,000. Moneta Group Investment Advisors LLC raised its stake in Celgene by 2,688.6% during the 2nd quarter. Moneta Group Investment Advisors LLC now owns 10,290 shares of the biopharmaceutical company’s stock worth $114,000 after acquiring an additional 9,921 shares during the period. Finally, Harvest Fund Management Co. Ltd bought a new stake in Celgene during the 3rd quarter worth approximately $132,000. 73.58% of the stock is currently owned by institutional investors.

A number of equities research analysts have commented on CELG shares. Morgan Stanley raised their target price on shares of Celgene from $90.00 to $91.00 and gave the stock an “equal weight” rating in a research note on Friday, July 13th. Zacks Investment Research cut shares of Celgene from a “hold” rating to a “sell” rating in a research report on Wednesday, July 18th. SunTrust Banks reiterated a “hold” rating and set a $101.00 price objective on shares of Celgene in a research report on Friday, July 27th. Mizuho reiterated a “buy” rating and set a $129.00 price objective on shares of Celgene in a research report on Tuesday, July 31st. Finally, BidaskClub upgraded shares of Celgene from a “hold” rating to a “buy” rating in a research report on Thursday, August 16th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Celgene has a consensus rating of “Buy” and an average target price of $117.91.

Shares of CELG opened at $75.46 on Thursday. Celgene Co. has a fifty-two week low of $70.09 and a fifty-two week high of $110.81. The firm has a market capitalization of $52.51 billion, a P/E ratio of 11.03, a price-to-earnings-growth ratio of 0.46 and a beta of 1.53. The company has a current ratio of 2.13, a quick ratio of 1.99 and a debt-to-equity ratio of 4.06.

Celgene (NASDAQ:CELG) last announced its quarterly earnings results on Thursday, October 25th. The biopharmaceutical company reported $2.29 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.27. Celgene had a net margin of 19.64% and a return on equity of 108.76%. The company had revenue of $3.89 billion for the quarter, compared to analysts’ expectations of $3.83 billion. As a group, analysts anticipate that Celgene Co. will post 7.45 EPS for the current year.

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Celgene Company Profile

Celgene Corporation, a biopharmaceutical company, engages in the discovery, development, and commercialization of 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, a solvent-free chemotherapy product 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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