Meiji Yasuda Life Insurance Co Cuts Holdings in Celgene Co. (NASDAQ:CELG)

Meiji Yasuda Life Insurance Co lessened its stake in Celgene Co. (NASDAQ:CELG) by 31.2% in the first quarter, HoldingsChannel reports. The institutional investor owned 21,060 shares of the biopharmaceutical company’s stock after selling 9,535 shares during the quarter. Meiji Yasuda Life Insurance Co’s holdings in Celgene were worth $1,987,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the business. Altium Wealth Management LLC increased its position in Celgene by 1.3% during the 1st quarter. Altium Wealth Management LLC now owns 8,980 shares of the biopharmaceutical company’s stock valued at $847,000 after purchasing an additional 115 shares during the period. Global Retirement Partners LLC increased its position in Celgene by 10.0% during the 1st quarter. Global Retirement Partners LLC now owns 1,269 shares of the biopharmaceutical company’s stock valued at $120,000 after purchasing an additional 115 shares during the period. Community Bank N.A. increased its position in Celgene by 3.2% during the 1st quarter. Community Bank N.A. now owns 3,922 shares of the biopharmaceutical company’s stock valued at $370,000 after purchasing an additional 120 shares during the period. Manchester Capital Management LLC increased its position in Celgene by 1.2% during the 1st quarter. Manchester Capital Management LLC now owns 9,768 shares of the biopharmaceutical company’s stock valued at $922,000 after purchasing an additional 120 shares during the period. Finally, Iberiabank Corp grew its position in shares of Celgene by 1.0% in the 1st quarter. Iberiabank Corp now owns 12,019 shares of the biopharmaceutical company’s stock worth $1,134,000 after buying an additional 121 shares during the period. 75.19% of the stock is owned by institutional investors and hedge funds.

Shares of CELG opened at $96.33 on Friday. The company has a quick ratio of 2.66, a current ratio of 2.78 and a debt-to-equity ratio of 2.42. Celgene Co. has a 1 year low of $58.59 and a 1 year high of $97.07. The company has a market cap of $67.94 billion, a price-to-earnings ratio of 12.67, a P/E/G ratio of 0.46 and a beta of 1.57.

Celgene (NASDAQ:CELG) last announced its quarterly earnings data on Thursday, April 25th. The biopharmaceutical company reported $2.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.45 by $0.10. Celgene had a net margin of 30.10% and a return on equity of 106.69%. The business had revenue of $4.03 billion during the quarter, compared to analyst estimates of $4.01 billion. During the same period last year, the firm posted $2.05 EPS. The company’s revenue was up 13.8% on a year-over-year basis. Analysts forecast that Celgene Co. will post 9.85 earnings per share for the current fiscal year.

CELG has been the topic of several recent analyst reports. Cowen initiated coverage on shares of Celgene in a research report on Tuesday, February 26th. They set a “market perform” rating and a $102.00 price objective on the stock. Mizuho set a $103.00 price objective on shares of Celgene and gave the company a “buy” rating in a research report on Friday, April 5th. William Blair downgraded shares of Celgene from an “outperform” rating to a “market perform” rating in a research report on Monday, April 1st. ValuEngine raised shares of Celgene from a “sell” rating to a “hold” rating in a research report on Saturday, March 30th. Finally, Cantor Fitzgerald cut shares of Celgene from an “overweight” rating to a “neutral” rating and set a $94.00 target price on the stock. in a research note on Friday, April 5th. Eighteen analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Celgene currently has an average rating of “Hold” and a consensus price target of $95.56.

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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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