Zurich Insurance Group Ltd FI Cuts Stake in Celgene Corporation (CELG)

Zurich Insurance Group Ltd FI decreased its stake in shares of Celgene Corporation (NASDAQ:CELG) by 4.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 117,793 shares of the biopharmaceutical company’s stock after selling 5,306 shares during the period. Zurich Insurance Group Ltd FI’s holdings in Celgene were worth $15,298,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Neuberger Berman Group LLC boosted its stake in shares of Celgene by 4.0% during the 1st quarter. Neuberger Berman Group LLC now owns 1,844,837 shares of the biopharmaceutical company’s stock valued at $229,553,000 after purchasing an additional 71,729 shares in the last quarter. Grisanti Capital Management LLC bought a new stake in shares of Celgene during the 2nd quarter valued at about $3,616,000. Lincoln Capital Corp boosted its stake in shares of Celgene by 0.6% during the 2nd quarter. Lincoln Capital Corp now owns 30,580 shares of the biopharmaceutical company’s stock valued at $3,971,000 after purchasing an additional 185 shares in the last quarter. RiverPoint Capital Management LLC boosted its stake in shares of Celgene by 3.1% during the 2nd quarter. RiverPoint Capital Management LLC now owns 121,654 shares of the biopharmaceutical company’s stock valued at $15,799,000 after purchasing an additional 3,680 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in shares of Celgene by 9.2% during the 2nd quarter. Russell Investments Group Ltd. now owns 641,697 shares of the biopharmaceutical company’s stock valued at $83,344,000 after purchasing an additional 54,210 shares in the last quarter. 80.17% of the stock is currently owned by hedge funds and other institutional investors.

Celgene Corporation (CELG) opened at $102.61 on Tuesday. The stock has a market cap of $80,790.00, a P/E ratio of 15.96, a PEG ratio of 0.79 and a beta of 1.77. Celgene Corporation has a 52 week low of $94.55 and a 52 week high of $147.17. The company has a quick ratio of 3.52, a current ratio of 3.65 and a debt-to-equity ratio of 1.31.

Celgene (NASDAQ:CELG) last issued its earnings results on Thursday, October 26th. The biopharmaceutical company reported $1.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.87 by $0.04. The firm had revenue of $3.29 billion for the quarter, compared to the consensus estimate of $3.42 billion. Celgene had a net margin of 27.36% and a return on equity of 63.80%. The business’s revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.58 earnings per share. research analysts forecast that Celgene Corporation will post 6.67 EPS for the current year.

In other news, insider Terrie Curran sold 1,727 shares of the company’s stock in a transaction that occurred on Monday, September 25th. The shares were sold at an average price of $143.89, for a total value of $248,498.03. Following the transaction, the insider now owns 3,925 shares in the company, valued at $564,768.25. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Gilla Kaplan sold 9,250 shares of the business’s stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $141.56, for a total transaction of $1,309,430.00. Following the transaction, the director now directly owns 85,551 shares of the company’s stock, valued at $12,110,599.56. The disclosure for this sale can be found here. Corporate insiders own 0.95% of the company’s stock.

A number of equities research analysts have recently weighed in on CELG shares. BMO Capital Markets lifted their target price on shares of Celgene from $148.00 to $155.00 and gave the company an “outperform” rating in a research note on Friday, November 17th. Oppenheimer reissued a “buy” rating and set a $170.00 price objective on shares of Celgene in a research note on Friday, October 20th. Vetr raised shares of Celgene from a “buy” rating to a “strong-buy” rating and set a $144.39 price objective on the stock in a research note on Monday, October 23rd. Cann reissued a “buy” rating on shares of Celgene in a research note on Thursday, October 26th. Finally, Morgan Stanley raised shares of Celgene from an “underweight” rating to an “equal weight” rating in a research note on Friday, October 27th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, nineteen have issued a buy rating and two have issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $139.57.

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Celgene 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.

Institutional Ownership by Quarter for Celgene (NASDAQ:CELG)

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