Strategic Advisors LLC Acquires New Position in Amgen Inc. (NASDAQ:AMGN)
Strategic Advisors LLC acquired a new stake in Amgen Inc. (NASDAQ:AMGN) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 2,616 shares of the medical research company’s stock, valued at approximately $429,000.
A number of other hedge funds and other institutional investors have also modified their holdings of AMGN. Norges Bank acquired a new position in shares of Amgen during the fourth quarter valued at $1,016,913,000. Loomis Sayles & Co. L P raised its position in Amgen by 4.7% in the fourth quarter. Loomis Sayles & Co. L P now owns 3,001,021 shares of the medical research company’s stock valued at $438,779,000 after buying an additional 133,918 shares in the last quarter. Bank of Montreal Can raised its position in Amgen by 10.5% in the first quarter. Bank of Montreal Can now owns 2,837,456 shares of the medical research company’s stock valued at $465,543,000 after buying an additional 269,586 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new position in Amgen during the fourth quarter valued at approximately $275,209,000. Finally, Putnam Investments LLC raised its position in Amgen by 9.2% in the fourth quarter. Putnam Investments LLC now owns 1,557,408 shares of the medical research company’s stock valued at $227,709,000 after buying an additional 131,223 shares in the last quarter. Institutional investors own 78.80% of the company’s stock.
Shares of Amgen Inc. (NASDAQ AMGN) opened at 180.21 on Friday. Amgen Inc. has a 52-week low of $133.64 and a 52-week high of $184.21. The firm has a market cap of $132.53 billion, a PE ratio of 17.12 and a beta of 1.36. The stock’s 50 day moving average price is $169.47 and its 200-day moving average price is $165.39.
Amgen (NASDAQ:AMGN) last issued its earnings results on Wednesday, April 26th. The medical research company reported $3.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.00 by $0.15. The business had revenue of $5.46 billion for the quarter, compared to analyst estimates of $5.60 billion. Amgen had a net margin of 34.42% and a return on equity of 29.37%. The company’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.90 EPS. On average, equities research analysts anticipate that Amgen Inc. will post $12.47 earnings per share for the current fiscal year.
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AMGN has been the subject of several research analyst reports. Deutsche Bank AG initiated coverage on Amgen in a research report on Friday, June 23rd. They set a “hold” rating and a $172.00 price target for the company. Credit Suisse Group restated a “hold” rating and set a $178.00 price target on shares of Amgen in a research report on Tuesday, April 4th. Vetr upgraded Amgen from a “buy” rating to a “strong-buy” rating and set a $184.82 price target for the company in a research report on Monday, March 27th. ValuEngine lowered Amgen from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, Oppenheimer Holdings, Inc. set a $189.00 price target on Amgen and gave the stock a “buy” rating in a research report on Monday, June 5th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, twelve have assigned a buy rating and three have issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $185.21.
In other news, SVP Cynthia M. Patton sold 2,922 shares of the company’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 sale, the senior vice president now owns 24,214 shares in the company, valued at approximately $3,738,641.60. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate 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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