Tredje AP fonden Cuts Position in Celgene Co. (NASDAQ:CELG)

Tredje AP fonden lowered its stake in shares of Celgene Co. (NASDAQ:CELG) by 4.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 89,624 shares of the biopharmaceutical company’s stock after selling 4,441 shares during the quarter. Tredje AP fonden’s holdings in Celgene were worth $8,455,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Oregon Public Employees Retirement Fund lifted its stake in shares of Celgene by 9,691.4% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 16,495,997 shares of the biopharmaceutical company’s stock valued at $257,000 after acquiring an additional 16,327,522 shares during the last quarter. Norges Bank bought a new position in shares of Celgene in the 4th quarter valued at $484,390,000. Parnassus Investments CA lifted its stake in shares of Celgene by 1,766.7% in the 4th quarter. Parnassus Investments CA now owns 2,800,000 shares of the biopharmaceutical company’s stock valued at $179,452,000 after acquiring an additional 2,650,000 shares during the last quarter. Ruffer LLP bought a new position in shares of Celgene in the 1st quarter valued at $226,613,000. Finally, Alpine Associates Management Inc. bought a new position in shares of Celgene in the 1st quarter valued at $202,076,000. 75.00% of the stock is currently owned by institutional investors and hedge funds.

CELG stock traded up $0.09 during mid-day trading on Friday, reaching $92.44. 3,961,284 shares of the company traded hands, compared to its average volume of 9,035,715. The firm has a market cap of $65.13 billion, a PE ratio of 12.15, a price-to-earnings-growth ratio of 0.44 and a beta of 1.57. The company has a current ratio of 2.78, a quick ratio of 2.66 and a debt-to-equity ratio of 2.42. Celgene Co. has a fifty-two week low of $58.59 and a fifty-two week high of $98.97. The company has a 50 day simple moving average of $95.51.

Celgene (NASDAQ:CELG) last posted its earnings results on Thursday, April 25th. The biopharmaceutical company reported $2.55 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.45 by $0.10. Celgene had a net margin of 30.10% and a return on equity of 106.69%. The firm had revenue of $4.03 billion for the quarter, compared to analysts’ expectations of $4.01 billion. During the same quarter last year, the firm earned $2.05 EPS. The company’s quarterly revenue was up 13.8% compared to the same quarter last year. On average, equities analysts predict that Celgene Co. will post 9.85 EPS for the current fiscal year.

Several research analysts recently issued reports on the company. Mizuho set a $103.00 target price on Celgene and gave the stock a “buy” rating in a research report on Friday, April 5th. Barclays lowered Celgene from an “overweight” rating to an “equal weight” rating and set a $102.00 target price for the company. in a research report on Friday, May 3rd. BidaskClub lowered Celgene from a “buy” rating to a “hold” rating in a research report on Tuesday, June 18th. William Blair lowered Celgene from an “outperform” rating to a “market perform” rating in a research report on Monday, April 1st. Finally, Atlantic Securities lowered Celgene from an “overweight” rating to a “neutral” rating and set a $94.34 price objective for the company. in a research report on Monday, April 1st. Nineteen research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Celgene has an average rating of “Hold” and an average price target of $95.56.

About Celgene

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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