Celgene Corporation (CELG) Stake Cut by Bridgewater Wealth & Financial Management LLC

Celgene Corporation (CELG) Stake Cut by Bridgewater Wealth & Financial Management LLC

Bridgewater Wealth & Financial Management LLC reduced its stake in shares of Celgene Corporation (NASDAQ:CELG) by 22.4% during the third quarter, Holdings Channel reports. The firm owned 2,126 shares of the biopharmaceutical company’s stock after selling 615 shares during the period. Bridgewater Wealth & Financial Management LLC’s holdings in Celgene Corporation were worth $222,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. First Financial Corp IN boosted its position in Celgene Corporation by 30.9% in the third quarter. First Financial Corp IN now owns 967 shares of the biopharmaceutical company’s stock valued at $101,000 after buying an additional 228 shares during the last quarter. Jolley Asset Management LLC boosted its stake in Celgene Corporation by 2.1% in the third quarter. Jolley Asset Management LLC now owns 1,240 shares of the biopharmaceutical company’s stock worth $130,000 after buying an additional 25 shares in the last quarter. Smithfield Trust Co. boosted its stake in Celgene Corporation by 12.5% in the second quarter. Smithfield Trust Co. now owns 1,282 shares of the biopharmaceutical company’s stock worth $127,000 after buying an additional 142 shares in the last quarter. Cornerstone Advisors Inc. boosted its stake in Celgene Corporation by 202.8% in the third quarter. Cornerstone Advisors Inc. now owns 1,320 shares of the biopharmaceutical company’s stock worth $138,000 after buying an additional 884 shares in the last quarter. Finally, Integrated Investment Consultants LLC boosted its stake in Celgene Corporation by 2.2% in the third quarter. Integrated Investment Consultants LLC now owns 1,369 shares of the biopharmaceutical company’s stock worth $138,000 after buying an additional 30 shares in the last quarter. Hedge funds and other institutional investors own 77.17% of the company’s stock.

Celgene Corporation (NASDAQ:CELG) opened at 113.62 on Friday. The firm has a 50-day moving average of $116.19 and a 200-day moving average of $110.88. Celgene Corporation has a one year low of $93.05 and a one year high of $127.00. The company has a market cap of $88.08 billion, a PE ratio of 43.15 and a beta of 1.74.

Celgene Corporation (NASDAQ:CELG) last issued its quarterly earnings data on Thursday, January 26th. The biopharmaceutical company reported $1.61 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.59 by $0.02. Celgene Corporation had a net margin of 17.80% and a return on equity of 77.95%. The company earned $2.98 billion during the quarter, compared to the consensus estimate of $3.03 billion. During the same quarter in the prior year, the firm earned $1.18 earnings per share. The firm’s revenue was up 16.3% compared to the same quarter last year. On average, analysts predict that Celgene Corporation will post $7.21 EPS for the current year.

A number of equities research analysts recently weighed in on the company. Vetr upgraded Celgene Corporation from a “hold” rating to a “buy” rating and set a $129.47 price target on the stock in a report on Monday, November 21st. Cann assumed coverage on Celgene Corporation in a report on Monday, November 28th. They issued an “outperform” rating and a $141.00 price target on the stock. Oppenheimer Holdings, Inc. assumed coverage on Celgene Corporation in a report on Tuesday, November 29th. They issued an “outperform” rating and a $141.00 price target on the stock. Robert W. Baird restated an “outperform” rating and issued a $162.00 price target on shares of Celgene Corporation in a report on Wednesday, January 11th. Finally, Cantor Fitzgerald restated a “buy” rating and issued a $159.00 price target on shares of Celgene Corporation in a report on Friday, January 6th. Five equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the stock. Celgene Corporation presently has a consensus rating of “Buy” and an average price target of $138.01.

In other news, Director Michael A. Friedman sold 18,600 shares of the stock in a transaction on Wednesday, November 9th. The shares were sold at an average price of $116.10, for a total transaction of $2,159,460.00. Following the completion of the sale, the director now owns 18,600 shares of the company’s stock, valued at $2,159,460. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.97% of the stock is owned by corporate insiders.

About Celgene Corporation

Celgene Corporation (Celgene) is a biopharmaceutical company. The Company together with its subsidiaries is engaged primarily 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.

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