Vivaldi Capital Management LLC Raises Holdings in Celgene Co. (NASDAQ:CELG)

Vivaldi Capital Management LLC grew its position in shares of Celgene Co. (NASDAQ:CELG) by 35.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,759 shares of the biopharmaceutical company’s stock after purchasing an additional 2,020 shares during the period. Vivaldi Capital Management LLC’s holdings in Celgene were worth $717,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. grew its position in Celgene by 1.7% in the second quarter. Vanguard Group Inc. now owns 54,115,735 shares of the biopharmaceutical company’s stock worth $5,002,460,000 after acquiring an additional 929,823 shares in the last quarter. FMR LLC grew its position in Celgene by 89.3% in the first quarter. FMR LLC now owns 16,656,629 shares of the biopharmaceutical company’s stock worth $1,571,387,000 after acquiring an additional 7,856,422 shares in the last quarter. Northern Trust Corp grew its position in Celgene by 0.8% in the second quarter. Northern Trust Corp now owns 9,093,790 shares of the biopharmaceutical company’s stock worth $840,630,000 after acquiring an additional 69,542 shares in the last quarter. Renaissance Technologies LLC grew its position in Celgene by 85.7% in the second quarter. Renaissance Technologies LLC now owns 8,935,785 shares of the biopharmaceutical company’s stock worth $826,024,000 after acquiring an additional 4,122,685 shares in the last quarter. Finally, Abrams Capital Management L.P. purchased a new position in Celgene in the first quarter worth about $637,066,000. Hedge funds and other institutional investors own 72.41% of the company’s stock.

NASDAQ CELG traded up $0.42 during trading on Friday, hitting $99.37. The stock had a trading volume of 3,715,834 shares, compared to its average volume of 3,170,931. The company has a debt-to-equity ratio of 1.97, a quick ratio of 3.32 and a current ratio of 3.44. The stock has a market capitalization of $69.93 billion, a price-to-earnings ratio of 13.06, a P/E/G ratio of 0.50 and a beta of 1.41. Celgene Co. has a one year low of $58.59 and a one year high of $99.66. The stock has a 50 day simple moving average of $95.97 and a 200 day simple moving average of $93.80.

Celgene (NASDAQ:CELG) last announced its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported $2.61 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.44 by $0.17. The business had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $4.22 billion. Celgene had a net margin of 32.24% and a return on equity of 89.93%. The firm’s quarterly revenue was up 15.4% compared to the same quarter last year. During the same quarter last year, the firm earned $2.16 earnings per share. On average, sell-side analysts predict that Celgene Co. will post 9.96 EPS for the current year.

Several research analysts recently commented on CELG shares. Cowen reiterated a “hold” rating and issued a $102.00 price target on shares of Celgene in a research report on Tuesday, July 30th. Mizuho lowered Celgene from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $103.00 to $100.00 in a research report on Monday, August 19th. Zacks Investment Research upgraded Celgene from a “sell” rating to a “hold” rating and set a $94.00 price target for the company in a research report on Tuesday, July 23rd. ValuEngine lowered Celgene from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 1st. Finally, BidaskClub lowered Celgene from a “buy” rating to a “hold” rating in a research report on Saturday, September 7th. One analyst has rated the stock with a sell rating, eighteen have issued a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $94.60.

In other Celgene news, insider Terrie Curran sold 11,338 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $98.27, for a total value of $1,114,185.26. Following the completion of the sale, the insider now owns 13,493 shares of the company’s stock, valued at $1,325,957.11. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.39% of the stock is owned by company insiders.

Celgene Company Profile

Celgene Corporation, a biopharmaceutical company, discovers, develops, and commercializes 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 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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