Royal London Asset Management Ltd. Purchases Shares of 310,795 Celgene Co. (CELG)

Royal London Asset Management Ltd. bought a new stake in Celgene Co. (NASDAQ:CELG) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 310,795 shares of the biopharmaceutical company’s stock, valued at approximately $24,685,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Edgewood Management LLC raised its holdings in Celgene by 16.2% in the second quarter. Edgewood Management LLC now owns 13,924,544 shares of the biopharmaceutical company’s stock valued at $1,105,887,000 after acquiring an additional 1,943,607 shares in the last quarter. Renaissance Technologies LLC increased its stake in Celgene by 60.6% in the second quarter. Renaissance Technologies LLC now owns 4,129,438 shares of the biopharmaceutical company’s stock valued at $327,960,000 after purchasing an additional 1,558,600 shares during the last quarter. Old Mutual Global Investors UK Ltd. increased its stake in Celgene by 4,047.3% in the first quarter. Old Mutual Global Investors UK Ltd. now owns 1,576,831 shares of the biopharmaceutical company’s stock valued at $140,669,000 after purchasing an additional 1,538,810 shares during the last quarter. Natixis increased its stake in Celgene by 245.6% in the first quarter. Natixis now owns 1,746,416 shares of the biopharmaceutical company’s stock valued at $155,798,000 after purchasing an additional 1,241,120 shares during the last quarter. Finally, FMR LLC increased its stake in Celgene by 14.8% in the second quarter. FMR LLC now owns 8,160,001 shares of the biopharmaceutical company’s stock valued at $648,067,000 after purchasing an additional 1,051,528 shares during the last quarter. 73.11% of the stock is currently owned by institutional investors.

Several brokerages have commented on CELG. BidaskClub upgraded shares of Celgene from a “sell” rating to a “hold” rating in a research note on Tuesday, July 10th. Cowen reiterated a “buy” rating and issued a $150.00 price target on shares of Celgene in a research note on Tuesday, July 10th. Mizuho reiterated a “buy” rating and issued a $118.00 price target on shares of Celgene in a research note on Tuesday, July 10th. Morgan Stanley raised their target price on shares of Celgene from $90.00 to $91.00 and gave the stock an “equal weight” rating in a research report on Friday, July 13th. Finally, SunTrust Banks restated a “hold” rating and set a $101.00 target price on shares of Celgene in a research report on Friday, July 27th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $121.42.

Shares of NASDAQ CELG traded up $1.87 during mid-day trading on Friday, hitting $82.58. 4,645,919 shares of the company were exchanged, compared to its average volume of 6,501,751. The company has a debt-to-equity ratio of 5.76, a current ratio of 1.52 and a quick ratio of 1.40. Celgene Co. has a 1-year low of $74.13 and a 1-year high of $139.72. The company has a market cap of $62.94 billion, a PE ratio of 12.07, a P/E/G ratio of 0.54 and a beta of 1.30.

Celgene (NASDAQ:CELG) last released its earnings results on Thursday, July 26th. The biopharmaceutical company reported $2.16 EPS for the quarter, beating analysts’ consensus estimates of $2.11 by $0.05. Celgene had a return on equity of 87.28% and a net margin of 19.81%. The company had revenue of $3.81 billion during the quarter, compared to the consensus estimate of $3.70 billion. During the same quarter last year, the company earned $1.82 earnings per share. Celgene’s quarterly revenue was up 16.6% compared to the same quarter last year. Analysts anticipate that Celgene Co. will post 7.64 earnings per share for the current fiscal year.

In other Celgene news, Director Ernest Mario sold 12,000 shares of the firm’s stock in a transaction on Thursday, August 9th. The stock was sold at an average price of $92.32, for a total value of $1,107,840.00. Following the completion of the sale, the director now owns 44,413 shares of the company’s stock, valued at $4,100,208.16. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director John H. Weiland purchased 5,575 shares of the business’s stock in a transaction dated Tuesday, August 7th. The shares were purchased at an average cost 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 company insiders.

Celgene 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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