Sawgrass Asset Management LLC lowered its position in Amgen, Inc. (NASDAQ:AMGN) by 1.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 333,637 shares of the medical research company’s stock after selling 6,209 shares during the period. Amgen accounts for 2.7% of Sawgrass Asset Management LLC’s portfolio, making the stock its 10th largest holding. Sawgrass Asset Management LLC owned 0.05% of Amgen worth $61,483,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Bangor Savings Bank boosted its position in shares of Amgen by 2.1% in the first quarter. Bangor Savings Bank now owns 2,682 shares of the medical research company’s stock valued at $510,000 after acquiring an additional 55 shares during the period. Carroll Financial Associates Inc. boosted its position in shares of Amgen by 0.8% in the second quarter. Carroll Financial Associates Inc. now owns 7,436 shares of the medical research company’s stock valued at $1,370,000 after acquiring an additional 58 shares during the period. Lincoln Capital Corp boosted its position in shares of Amgen by 0.3% in the second quarter. Lincoln Capital Corp now owns 21,483 shares of the medical research company’s stock valued at $3,959,000 after acquiring an additional 58 shares during the period. Bank OZK boosted its position in shares of Amgen by 0.4% in the first quarter. Bank OZK now owns 16,628 shares of the medical research company’s stock valued at $3,159,000 after acquiring an additional 60 shares during the period. Finally, Diversified Trust Co boosted its position in shares of Amgen by 0.4% in the first quarter. Diversified Trust Co now owns 14,856 shares of the medical research company’s stock valued at $2,822,000 after acquiring an additional 60 shares during the period. Hedge funds and other institutional investors own 77.50% of the company’s stock.
AMGN has been the subject of several research reports. Zacks Investment Research cut Amgen from a “buy” rating to a “hold” rating in a research report on Monday, April 15th. Royal Bank of Canada reaffirmed a “neutral” rating and issued a $192.00 target price on shares of Amgen in a research report on Tuesday, May 21st. Cowen reaffirmed a “buy” rating and issued a $229.00 target price on shares of Amgen in a research report on Wednesday, May 1st. Morgan Stanley reduced their target price on Amgen from $211.00 to $207.00 and set an “overweight” rating for the company in a research report on Monday, July 15th. Finally, Mizuho reaffirmed a “buy” rating and issued a $208.00 target price on shares of Amgen in a research report on Monday, July 1st. Eight analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $210.41.
AMGN stock traded down $0.01 during midday trading on Friday, hitting $185.99. The stock had a trading volume of 105,364 shares, compared to its average volume of 2,379,343. The firm has a market capitalization of $107.62 billion, a price-to-earnings ratio of 12.93, a price-to-earnings-growth ratio of 2.15 and a beta of 1.16. Amgen, Inc. has a 52 week low of $166.30 and a 52 week high of $210.19. The stock’s 50-day simple moving average is $180.70. The company has a quick ratio of 2.53, a current ratio of 2.77 and a debt-to-equity ratio of 2.71.
Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Tuesday, July 30th. The medical research company reported $3.97 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.58 by $0.39. The company 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 business’s revenue was down 3.1% on a year-over-year basis. During the same period last year, the business earned $3.83 earnings per share. Equities analysts forecast that Amgen, Inc. will post 14.05 earnings per share for the current fiscal year.
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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