Factory Mutual Insurance Co. Cuts Holdings in Celgene Corporation (CELG)

Factory Mutual Insurance Co. decreased its holdings in shares of Celgene Corporation (NASDAQ:CELG) by 2.5% during the second quarter, according to its most recent filing with the SEC. The firm owned 786,700 shares of the biopharmaceutical company’s stock after selling 20,000 shares during the period. Celgene Corporation accounts for about 1.2% of Factory Mutual Insurance Co.’s portfolio, making the stock its 22nd largest position. Factory Mutual Insurance Co. owned 0.10% of Celgene Corporation worth $102,169,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. State Street Corp increased its position in Celgene Corporation by 2.3% during the 1st quarter. State Street Corp now owns 32,473,417 shares of the biopharmaceutical company’s stock valued at $4,040,668,000 after purchasing an additional 723,844 shares during the period. Bank of New York Mellon Corp increased its position in Celgene Corporation by 4.9% during the 1st quarter. Bank of New York Mellon Corp now owns 10,088,473 shares of the biopharmaceutical company’s stock valued at $1,255,309,000 after purchasing an additional 472,067 shares during the period. American Century Companies Inc. increased its position in Celgene Corporation by 4.4% during the 1st quarter. American Century Companies Inc. now owns 6,563,791 shares of the biopharmaceutical company’s stock valued at $816,733,000 after purchasing an additional 276,089 shares during the period. Pioneer Investment Management Inc. increased its position in Celgene Corporation by 15.7% during the 1st quarter. Pioneer Investment Management Inc. now owns 5,231,139 shares of the biopharmaceutical company’s stock valued at $650,911,000 after purchasing an additional 710,584 shares during the period. Finally, Clearbridge Investments LLC increased its position in Celgene Corporation by 24.1% during the 1st quarter. Clearbridge Investments LLC now owns 4,601,919 shares of the biopharmaceutical company’s stock valued at $572,617,000 after purchasing an additional 892,392 shares during the period. 79.43% of the stock is currently owned by institutional investors and hedge funds.

CELG has been the topic of a number of research reports. Vetr downgraded shares of Celgene Corporation from a “strong-buy” rating to a “buy” rating and set a $146.88 target price on the stock. in a research report on Tuesday, August 29th. Cantor Fitzgerald reissued a “buy” rating on shares of Celgene Corporation in a research report on Monday, August 28th. BTIG Research reissued a “buy” rating and set a $138.00 target price on shares of Celgene Corporation in a research report on Wednesday, May 24th. Bank of America Corporation reissued a “buy” rating on shares of Celgene Corporation in a research report on Wednesday. Finally, Argus raised shares of Celgene Corporation from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $96.93 to $160.00 in a research report on Monday, July 31st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $149.34.

In related news, Director Ernest Mario sold 18,506 shares of the stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $130.52, for a total transaction of $2,415,403.12. Following the completion of the sale, the director now directly owns 69,424 shares of the company’s stock, valued at $9,061,220.48. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Gilla Kaplan sold 7,500 shares of the stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $134.52, for a total value of $1,008,900.00. Following the sale, the director now directly owns 76,301 shares of the company’s stock, valued at $10,264,010.52. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 267,476 shares of company stock valued at $35,812,841. Corporate insiders own 0.95% of the company’s stock.

Celgene Corporation (CELG) traded up 1.02% during trading on Friday, hitting $142.04. 5,983,997 shares of the company traded hands. The company’s 50-day moving average is $134.97 and its 200 day moving average is $127.46. Celgene Corporation has a 52-week low of $96.93 and a 52-week high of $142.69. The firm has a market cap of $111.12 billion, a price-to-earnings ratio of 43.99 and a beta of 1.89.

Celgene Corporation (NASDAQ:CELG) last issued its quarterly earnings results on Thursday, July 27th. The biopharmaceutical company reported $1.82 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.61 by $0.21. Celgene Corporation had a return on equity of 68.51% and a net margin of 21.35%. The firm had revenue of $3.27 billion during the quarter, compared to the consensus estimate of $3.23 billion. During the same period last year, the company earned $1.44 earnings per share. The company’s revenue for the quarter was up 18.7% on a year-over-year basis. On average, equities analysts anticipate that Celgene Corporation will post $7.33 earnings per share for the current year.

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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.

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

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