Martin Investment Management Lowers stake in Celgene Corporation (CELG)

Celgene Corporation (CELG) : Martin Investment Management reduced its stake in Celgene Corporation by 10.78% during the most recent quarter end. The investment management company now holds a total of 215,491 shares of Celgene Corporation which is valued at $23,169,592 after selling 26,050 shares in Celgene Corporation , the firm said in a disclosure report filed with the SEC on Jul 21, 2016.Celgene Corporation makes up approximately 3.74% of Martin Investment Management’s portfolio.

Other Hedge Funds, Including , Tiaa Cref Trust Co Fsbmo boosted its stake in CELG in the latest quarter, The investment management firm added 18,732 additional shares and now holds a total of 131,602 shares of Celgene Corporation which is valued at $14,149,847. Celgene Corporation makes up approx 0.13% of Tiaa Cref Trust Co Fsbmo’s portfolio.First National Bank Of Omaha boosted its stake in CELG in the latest quarter, The investment management firm added 1,244 additional shares and now holds a total of 59,847 shares of Celgene Corporation which is valued at $6,261,193. Celgene Corporation makes up approx 0.47% of First National Bank Of Omaha’s portfolio.First Manhattan Co boosted its stake in CELG in the latest quarter, The investment management firm added 2,095 additional shares and now holds a total of 147,830 shares of Celgene Corporation which is valued at $15,182,141. Celgene Corporation makes up approx 0.09% of First Manhattan Co’s portfolio.Abner Herrman Brock reduced its stake in CELG by selling 2,153 shares or 2.26% in the most recent quarter. The Hedge Fund company now holds 93,145 shares of CELG which is valued at $9,478,435. Celgene Corporation makes up approx 2.19% of Abner Herrman Brock’s portfolio.

Celgene Corporation opened for trading at $109.91 and hit $112.25 on the upside on Thursday, eventually ending the session at $111.26, with a gain of 2.91% or 3.15 points. The heightened volatility saw the trading volume jump to 83,30,698 shares. Company has a market cap of $86,182 M.

On the company’s financial health, Celgene Corporation reported $1.32 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Apr 28, 2016. Analyst had a consensus of $1.27. The company had revenue of $2511.60 million for the quarter, compared to analysts expectations of $2577.08 million. The company’s revenue was up 20.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.07 EPS.

Many Wall Street Analysts have commented on Celgene Corporation. Stifel Initiated Celgene Corporation on Jul 15, 2016 to “Buy”, Price Target of the shares are set at $138.Company shares were Reiterated by Sun Trust Rbsn Humphrey on Apr 29, 2016 to “Buy”, Firm has raised the Price Target to $ 147 from a previous price target of $145 .

Celgene Corporation (Celgene) together with its subsidiaries is an integrated biopharmaceutical company engaged primarily in the discovery development and commercialization of therapies for the treatment of cancer and inflammatory diseases through gene and protein regulation. The Company’s primary commercial stage products include REVLIMID (lenalidomide) ABRAXANE POMALYST/IMNOVID VIDAZA azacitidine for injection (generic version of VIDAZA) THALOMID (sold as THALOMID or Thalidomide Celgene outside the United States) OTEZLA (apremilast) and ISTODAX (romidepsin). Celgene is involved in research in a range of scientific areas designed to deliver therapies targeting areas including intracellular signaling pathways protein homeostasis and epigenetics in cancer and immune cells immunomodulation in cancer and autoimmune diseases and therapeutic application of cell therapies.

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