Strategic Advisors LLC lowered its stake in Amgen, Inc. (NASDAQ:AMGN) by 22.2% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 1,288 shares of the medical research company’s stock after selling 368 shares during the quarter. Strategic Advisors LLC’s holdings in Amgen were worth $237,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Capital Financial Planning LLC bought a new stake in Amgen during the 4th quarter valued at approximately $27,000. Arbor Wealth Management LLC raised its stake in Amgen by 154.5% during the 2nd quarter. Arbor Wealth Management LLC now owns 168 shares of the medical research company’s stock valued at $31,000 after purchasing an additional 102 shares during the period. Next Capital Management LLC bought a new stake in Amgen during the 4th quarter valued at approximately $33,000. C J Advisory Inc bought a new stake in Amgen during the 1st quarter valued at approximately $40,000. Finally, Clarfeld Financial Advisors LLC bought a new stake in Amgen during the 4th quarter valued at approximately $41,000. 77.50% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages recently issued reports on AMGN. Credit Suisse Group began coverage on Amgen in a research note on Monday, May 20th. They set an “outperform” rating and a $208.00 target price on the stock. Cowen reissued a “buy” rating and set a $229.00 target price on shares of Amgen in a research note on Wednesday, May 1st. Morgan Stanley decreased their target price on Amgen from $211.00 to $207.00 and set an “overweight” rating on the stock in a research note on Monday, July 15th. Mizuho reissued a “buy” rating and set a $208.00 target price on shares of Amgen in a research note on Monday, July 1st. Finally, BMO Capital Markets set a $230.00 target price on Amgen and gave the company a “buy” rating in a research note on Wednesday. Eight equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $210.41.
Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Tuesday, July 30th. The medical research company reported $3.97 earnings per share for the quarter, beating the consensus estimate of $3.58 by $0.39. The business had revenue of $5.87 billion during the quarter, compared to analysts’ expectations of $5.67 billion. Amgen had a return on equity of 71.02% and a net margin of 34.00%. The firm’s revenue for the quarter was down 3.1% compared to the same quarter last year. During the same quarter last year, the business posted $3.83 EPS. Equities analysts forecast that Amgen, Inc. will post 14.05 EPS for the current fiscal year.
In other Amgen news, Director Ronald D. Sugar sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $187.58, for a total transaction of $375,160.00. Following the completion of the transaction, the director now owns 16,336 shares in the company, valued at approximately $3,064,306.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.25% of the company’s stock.
Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It offers products for the treatment of oncology/hematology, cardiovascular, inflammation, bone health, and neuroscience. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta, a pegylated protein to treat cancer patients; Prolia to treat postmenopausal women with osteoporosis; Aranesp to treat anemia; Xgeva for skeletal-related events prevention; Sensipar/Mimpara products to treat sHPT in chronic kidney disease; and EPOGEN to treat a lower-than-normal number of red blood cells.
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