Cubic Asset Management LLC Holds Stake in Amgen, Inc. (AMGN)
Cubic Asset Management LLC held its position in Amgen, Inc. (NASDAQ:AMGN) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,371 shares of the medical research company’s stock at the end of the first quarter. Cubic Asset Management LLC’s holdings in Amgen were worth $389,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. First Republic Investment Management Inc. boosted its position in Amgen by 3.0% in the fourth quarter. First Republic Investment Management Inc. now owns 558,210 shares of the medical research company’s stock worth $81,616,000 after buying an additional 16,521 shares during the period. Third Avenue Management LLC boosted its position in Amgen by 56.6% in the fourth quarter. Third Avenue Management LLC now owns 210,262 shares of the medical research company’s stock worth $30,742,000 after buying an additional 76,036 shares during the period. Exchange Capital Management Inc. boosted its position in Amgen by 1.7% in the fourth quarter. Exchange Capital Management Inc. now owns 24,575 shares of the medical research company’s stock worth $3,593,000 after buying an additional 399 shares during the period. Private Asset Management Inc. boosted its position in Amgen by 117.8% in the first quarter. Private Asset Management Inc. now owns 3,591 shares of the medical research company’s stock worth $589,000 after buying an additional 1,942 shares during the period. Finally, Quest Investment Management Inc. OR boosted its position in Amgen by 2,608.6% in the fourth quarter. Quest Investment Management Inc. OR now owns 59,372 shares of the medical research company’s stock worth $8,681,000 after buying an additional 57,180 shares during the period. Institutional investors own 79.04% of the company’s stock.
Shares of Amgen, Inc. (AMGN) opened at 164.06 on Friday. Amgen, Inc. has a 52 week low of $133.64 and a 52 week high of $184.21. The firm has a 50-day moving average of $160.01 and a 200 day moving average of $160.26. The stock has a market cap of $120.65 billion, a PE ratio of 15.58 and a beta of 1.15.
Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Wednesday, April 26th. The medical research company reported $3.15 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.00 by $0.15. The firm had revenue of $5.46 billion for the quarter, compared to the consensus estimate of $5.60 billion. Amgen had a net margin of 33.59% and a return on equity of 29.42%. The company’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same period last year, the firm posted $2.90 earnings per share. On average, equities analysts forecast that Amgen, Inc. will post $12.45 EPS for the current fiscal year.
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A number of research analysts recently weighed in on AMGN shares. Robert W. Baird restated a “neutral” rating and set a $165.00 target price on shares of Amgen in a research note on Friday, March 17th. Cann restated an “outperform” rating and set a $189.00 target price on shares of Amgen in a research note on Tuesday, February 28th. Oppenheimer Holdings Inc. set a $175.00 target price on shares of Amgen and gave the company a “buy” rating in a research note on Tuesday, February 14th. Mizuho set a $195.00 target price on shares of Amgen and gave the company a “buy” rating in a research note on Thursday, March 16th. Finally, Vetr upgraded shares of Amgen from a “hold” rating to a “buy” rating and set a $178.74 target price on the stock in a research note on Monday, February 13th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $186.19.
In other news, SVP Cynthia M. Patton sold 2,922 shares of the firm’s stock in a transaction dated Wednesday, May 24th. The shares were sold at an average price of $154.40, for a total value of $451,156.80. Following the transaction, the senior vice president now directly owns 24,214 shares of the company’s stock, valued at $3,738,641.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.20% of the company’s stock.
Amgen Inc is a biotechnology company. The Company discovers, develops, manufactures and delivers various human therapeutics. It operates in human therapeutics segment. Its marketed products portfolio includes Neulasta (pegfilgrastim); erythropoiesis-stimulating agents (ESAs), such as Aranesp (darbepoetin alfa) and EPOGEN (epoetin alfa); Sensipar/Mimpara (cinacalcet); XGEVA (denosumab); Prolia (denosumab); NEUPOGEN (filgrastim), and other marketed products, such as KYPROLIS (carfilzomib), Vectibix (panitumumab), Nplate (romiplostim), Repatha (evolocumab), BLINCYTO (blinatumomab), IMLYGIC (talimogene laherparepvec) and Corlanor (ivabradine).
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