Sumitomo Mitsui Trust Holdings Inc. Acquires 8,199 Shares of Celgene Corporation (CELG)

Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Celgene Corporation (NASDAQ:CELG) by 0.3% during the first quarter, Holdings Channel reports. The institutional investor owned 2,356,268 shares of the biopharmaceutical company’s stock after buying an additional 8,199 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Celgene Corporation were worth $293,190,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Edge Wealth Management LLC raised its stake in Celgene Corporation by 10.5% in the first quarter. Edge Wealth Management LLC now owns 15,920 shares of the biopharmaceutical company’s stock worth $1,979,000 after buying an additional 1,518 shares in the last quarter. Catawba Capital Management VA raised its stake in Celgene Corporation by 12.0% in the first quarter. Catawba Capital Management VA now owns 2,425 shares of the biopharmaceutical company’s stock worth $302,000 after buying an additional 260 shares in the last quarter. Personal Capital Advisors Corp raised its stake in Celgene Corporation by 11.3% in the first quarter. Personal Capital Advisors Corp now owns 233,811 shares of the biopharmaceutical company’s stock worth $29,014,000 after buying an additional 23,686 shares in the last quarter. Hampstead Capital LLP purchased a new stake in Celgene Corporation during the fourth quarter worth $4,630,000. Finally, CENTRAL TRUST Co raised its stake in Celgene Corporation by 1.1% in the first quarter. CENTRAL TRUST Co now owns 101,225 shares of the biopharmaceutical company’s stock worth $12,595,000 after buying an additional 1,071 shares in the last quarter. Institutional investors and hedge funds own 78.26% of the company’s stock.

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

Shares of Celgene Corporation (NASDAQ CELG) opened at 134.31 on Friday. Celgene Corporation has a 52-week low of $94.42 and a 52-week high of $134.56. The company has a market cap of $104.87 billion, a PE ratio of 50.44 and a beta of 1.82. The stock’s 50 day moving average is $119.20 and its 200 day moving average is $119.73.

Celgene Corporation (NASDAQ:CELG) last announced its earnings results on Thursday, April 27th. The biopharmaceutical company reported $1.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.47 by $0.21. Celgene Corporation had a return on equity of 70.94% and a net margin of 18.32%. The firm had revenue of $2.96 billion for the quarter, compared to analyst estimates of $3.04 billion. During the same quarter last year, the firm posted $1.32 EPS. The business’s revenue was up 17.8% on a year-over-year basis. Equities analysts forecast that Celgene Corporation will post $7.29 EPS for the current year.

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CELG has been the subject of a number of analyst reports. Zacks Investment Research lowered shares of Celgene Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, March 9th. BTIG Research restated a “buy” rating and set a $138.00 price objective on shares of Celgene Corporation in a research note on Wednesday, May 24th. Leerink Swann restated a “market perform” rating on shares of Celgene Corporation in a research note on Monday, March 20th. Cann restated an “outperform” rating and set a $148.00 price objective on shares of Celgene Corporation in a research note on Thursday, March 2nd. Finally, Argus lowered shares of Celgene Corporation from a “buy” rating to a “hold” rating and raised their price objective for the company from $123.91 to $124.46 in a research note on Friday, May 5th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty have given a buy rating and one has given a strong buy rating to the stock. Celgene Corporation currently has a consensus rating of “Buy” and a consensus price target of $139.49.

In other news, insider Robert J. Hugin sold 175,970 shares of the stock in a transaction that occurred on Thursday, June 22nd. The stock was sold at an average price of $134.14, for a total transaction of $23,604,615.80. Following the transaction, the insider now owns 1,033,909 shares in the company, valued at approximately $138,688,553.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Rupert Vessey sold 4,785 shares of the stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $120.18, for a total value of $575,061.30. Following the transaction, the insider now owns 4,004 shares in the company, valued at approximately $481,200.72. The disclosure for this sale can be found here. Insiders have sold a total of 232,538 shares of company stock worth $30,781,803 in the last quarter. Insiders own 0.95% of the company’s stock.

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.

Want to see what other hedge funds are holding CELG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Celgene Corporation (NASDAQ:CELG).

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