Biltmore Wealth Management LLC acquired a new position in Amgen, Inc. (NASDAQ:AMGN) in the third quarter, HoldingsChannel reports. The institutional investor acquired 3,518 shares of the medical research company’s stock, valued at approximately $729,000. Amgen comprises 0.6% of Biltmore Wealth Management LLC’s holdings, making the stock its 19th biggest holding.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in AMGN. Beutel Goodman & Co Ltd. purchased a new stake in shares of Amgen in the second quarter worth about $86,723,000. Natixis lifted its position in shares of Amgen by 2,612.1% in the second quarter. Natixis now owns 529,816 shares of the medical research company’s stock worth $97,799,000 after buying an additional 510,281 shares in the last quarter. Summit Trail Advisors LLC lifted its position in shares of Amgen by 16,458.8% in the first quarter. Summit Trail Advisors LLC now owns 433,510 shares of the medical research company’s stock worth $434,000 after buying an additional 430,892 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Amgen by 17.0% in the second quarter. Dimensional Fund Advisors LP now owns 2,365,045 shares of the medical research company’s stock worth $436,551,000 after buying an additional 343,690 shares in the last quarter. Finally, Bank of Nova Scotia lifted its position in shares of Amgen by 234.2% in the second quarter. Bank of Nova Scotia now owns 433,450 shares of the medical research company’s stock worth $80,011,000 after buying an additional 303,743 shares in the last quarter. 82.48% of the stock is owned by hedge funds and other institutional investors.

AMGN has been the topic of a number of recent research reports. Oppenheimer restated a “buy” rating and set a $224.00 price objective on shares of Amgen in a research report on Tuesday, October 2nd. Jefferies Financial Group restated a “buy” rating and set a $220.00 price objective on shares of Amgen in a research report on Friday, August 24th. Morgan Stanley upped their price objective on Amgen from $210.00 to $212.00 and gave the company an “overweight” rating in a research report on Thursday. Leerink Swann set a $209.00 price objective on Amgen and gave the company a “hold” rating in a research report on Monday, September 17th. Finally, Cantor Fitzgerald set a $223.00 price objective on Amgen and gave the company a “neutral” rating in a research report on Monday, October 8th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eleven have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $204.90.

In other news, EVP Sean E. Harper sold 1,525 shares of the company’s stock in a transaction that occurred on Monday, July 16th. The stock was sold at an average price of $195.71, for a total transaction of $298,457.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.27% of the company’s stock.

AMGN opened at $197.39 on Friday. The company has a market cap of $134.17 billion, a PE ratio of 15.57, a price-to-earnings-growth ratio of 2.02 and a beta of 1.40. Amgen, Inc. has a one year low of $163.31 and a one year high of $210.19. The company has a current ratio of 3.39, a quick ratio of 3.12 and a debt-to-equity ratio of 2.03.

Amgen (NASDAQ:AMGN) last released its earnings results on Thursday, July 26th. The medical research company reported $3.83 EPS for the quarter, beating analysts’ consensus estimates of $3.52 by $0.31. The firm had revenue of $6.06 billion for the quarter, compared to analysts’ expectations of $5.73 billion. Amgen had a return on equity of 43.18% and a net margin of 10.19%. The company’s quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.27 earnings per share. As a group, equities research analysts predict that Amgen, Inc. will post 13.96 earnings per share for the current year.

Amgen Profile

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It offers products for the treatment of oncology/hematology, cardiovascular, inflammation, bone health, nephrology, and neuroscience. The company's products include Evenity to treat osteoporosis in postmenopausal women; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Repatha to treat coronary diseases; Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Parsabiv to treat secondary hyperparathyroidism (sHPT); and Aimovig for the prevention of migraine.

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Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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