Burney Co. lifted its holdings in shares of Celgene Co. (NASDAQ:CELG) by 99.7% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 92,321 shares of the biopharmaceutical company’s stock after acquiring an additional 46,099 shares during the period. Burney Co.’s holdings in Celgene were worth $8,710,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of the company. Oregon Public Employees Retirement Fund boosted its position in Celgene by 9,691.4% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 16,495,997 shares of the biopharmaceutical company’s stock valued at $257,000 after buying an additional 16,327,522 shares during the last quarter. Norges Bank purchased a new stake in Celgene in the fourth quarter valued at approximately $484,390,000. Abrams Capital Management L.P. purchased a new stake in Celgene in the first quarter valued at approximately $637,066,000. Parnassus Investments CA boosted its position in Celgene by 1,766.7% in the fourth quarter. Parnassus Investments CA now owns 2,800,000 shares of the biopharmaceutical company’s stock valued at $179,452,000 after buying an additional 2,650,000 shares during the last quarter. Finally, Ruffer LLP purchased a new stake in Celgene in the first quarter valued at approximately $226,613,000. Institutional investors and hedge funds own 75.19% of the company’s stock.
Celgene stock opened at $96.56 on Thursday. The company has a debt-to-equity ratio of 2.42, a quick ratio of 2.66 and a current ratio of 2.78. Celgene Co. has a 12 month low of $58.59 and a 12 month high of $97.07. The company has a market capitalization of $67.68 billion, a price-to-earnings ratio of 12.69, a P/E/G ratio of 0.45 and a beta of 1.57.
Celgene (NASDAQ:CELG) last released its quarterly earnings data 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 return on equity of 106.69% and a net margin of 30.10%. The business had revenue of $4.03 billion for the quarter, compared to analyst estimates of $4.01 billion. During the same quarter in the prior year, the firm posted $2.05 EPS. The business’s quarterly revenue was up 13.8% compared to the same quarter last year. Sell-side analysts expect that Celgene Co. will post 9.85 earnings per share for the current year.
A number of equities research analysts recently commented on CELG shares. William Blair reiterated a “buy” rating on shares of Celgene in a research report on Thursday, February 28th. Mizuho set a $103.00 target price on Celgene and gave the company a “buy” rating in a research report on Friday, April 5th. BidaskClub lowered Celgene from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. Barclays lowered Celgene from an “overweight” rating to an “equal weight” rating and set a $102.00 target price on the stock. in a research report on Friday, May 3rd. Finally, ValuEngine upgraded Celgene from a “sell” rating to a “hold” rating in a research report on Saturday, March 30th. Eighteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $95.56.
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.
See Also: Hedge Funds Explained
Want to see what other hedge funds are holding CELG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Celgene Co. (NASDAQ:CELG).
Receive News & Ratings for Celgene Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Celgene and related companies with MarketBeat.com's FREE daily email newsletter.