Synovus Financial Corp Raises Stake in Celgene Co. (CELG)

Synovus Financial Corp boosted its stake in shares of Celgene Co. (NASDAQ:CELG) by 14.0% during the 3rd quarter, Holdings Channel reports. The fund owned 56,894 shares of the biopharmaceutical company’s stock after purchasing an additional 6,969 shares during the period. Synovus Financial Corp’s holdings in Celgene were worth $5,076,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Willingdon Wealth Management increased its stake in Celgene by 9.4% during the third quarter. Willingdon Wealth Management now owns 50,512 shares of the biopharmaceutical company’s stock worth $4,520,000 after acquiring an additional 4,348 shares during the last quarter. Wedge Capital Management L L P NC increased its stake in Celgene by 0.8% during the third quarter. Wedge Capital Management L L P NC now owns 389,679 shares of the biopharmaceutical company’s stock worth $34,872,000 after acquiring an additional 3,176 shares during the last quarter. US Bancorp DE increased its stake in Celgene by 7.6% during the third quarter. US Bancorp DE now owns 1,054,363 shares of the biopharmaceutical company’s stock worth $94,356,000 after acquiring an additional 74,017 shares during the last quarter. Anchor Capital Advisors LLC bought a new stake in Celgene during the third quarter worth approximately $206,000. Finally, Moody National Bank Trust Division boosted its position in shares of Celgene by 1,068.3% during the third quarter. Moody National Bank Trust Division now owns 82,835 shares of the biopharmaceutical company’s stock valued at $7,412,000 after buying an additional 75,745 shares during the period. 72.98% of the stock is currently owned by institutional investors.

Shares of NASDAQ CELG opened at $74.19 on Friday. The company has a quick ratio of 1.99, a current ratio of 2.13 and a debt-to-equity ratio of 4.06. The company has a market capitalization of $51.88 billion, a P/E ratio of 10.07, a PEG ratio of 0.46 and a beta of 1.53. Celgene Co. has a 52-week low of $70.09 and a 52-week high of $110.81.

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

Several research analysts have issued reports on CELG shares. BidaskClub upgraded Celgene from a “sell” rating to a “hold” rating in a research report on Tuesday, July 10th. Mizuho restated a “buy” rating and set a $118.00 target price on shares of Celgene in a research report on Tuesday, July 10th. Cowen restated a “buy” rating and set a $150.00 target price on shares of Celgene in a research report on Tuesday, July 10th. Morgan Stanley boosted their target price on Celgene from $90.00 to $91.00 and gave the company an “equal weight” rating in a research report on Friday, July 13th. Finally, Zacks Investment Research lowered Celgene from a “hold” rating to a “sell” rating in a research report on Wednesday, July 18th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $117.91.

In other Celgene news, Director Ernest Mario sold 12,000 shares of the company’s stock in a transaction on Thursday, August 9th. The stock was sold at an average price of $92.32, for a total transaction of $1,107,840.00. Following the completion of the sale, the director now owns 44,413 shares in the company, valued at $4,100,208.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director John H. Weiland bought 5,575 shares of the stock in a transaction on Tuesday, August 7th. The shares were bought at an average price of $89.73 per share, with a total value of $500,244.75. The disclosure for this purchase can be found here. 0.39% of the stock is currently owned by insiders.

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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