Verition Fund Management LLC raised its position in shares of Amgen (NASDAQ:AMGN) by 119.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,007 shares of the medical research company’s stock after acquiring an additional 3,264 shares during the period. Verition Fund Management LLC’s holdings in Amgen were worth $1,045,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also recently bought and sold shares of the business. Biltmore Family Office LLC bought a new position in shares of Amgen in the fourth quarter worth about $316,000. LPL Financial LLC grew its holdings in shares of Amgen by 6.0% in the fourth quarter. LPL Financial LLC now owns 151,088 shares of the medical research company’s stock worth $26,274,000 after purchasing an additional 8,536 shares during the last quarter. Millennium Management LLC grew its holdings in shares of Amgen by 1,245.3% in the fourth quarter. Millennium Management LLC now owns 519,141 shares of the medical research company’s stock worth $90,279,000 after purchasing an additional 480,551 shares during the last quarter. Flinton Capital Management LLC grew its holdings in shares of Amgen by 15.3% in the fourth quarter. Flinton Capital Management LLC now owns 70,788 shares of the medical research company’s stock worth $12,310,000 after purchasing an additional 9,418 shares during the last quarter. Finally, Meadow Creek Investment Management LLC grew its holdings in shares of Amgen by 15.3% in the fourth quarter. Meadow Creek Investment Management LLC now owns 33,312 shares of the medical research company’s stock worth $5,793,000 after purchasing an additional 4,432 shares during the last quarter. Institutional investors and hedge funds own 85.76% of the company’s stock.
A number of research firms have recently commented on AMGN. Cowen restated a “buy” rating and issued a $204.00 price target on shares of Amgen in a report on Tuesday. Zacks Investment Research cut shares of Amgen from a “buy” rating to a “hold” rating in a report on Tuesday, April 17th. TheStreet cut shares of Amgen from a “b-” rating to a “c+” rating in a report on Wednesday, April 11th. Barclays cut their price target on shares of Amgen from $190.00 to $180.00 and set an “equal weight” rating on the stock in a report on Thursday, April 5th. Finally, ValuEngine cut shares of Amgen from a “buy” rating to a “hold” rating in a report on Monday, April 2nd. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating and ten have issued a buy rating to the stock. Amgen presently has a consensus rating of “Hold” and an average price target of $190.57.
In other Amgen news, EVP Sean E. Harper sold 1,525 shares of the stock in a transaction dated Friday, March 16th. The shares were sold at an average price of $189.75, for a total transaction of $289,368.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last three months, insiders have sold 4,575 shares of company stock valued at $818,330. Insiders own 0.27% of the company’s stock.
AMGN stock opened at $171.94 on Wednesday. The stock has a market cap of $114,648.48, a price-to-earnings ratio of 13.67, a PEG ratio of 2.10 and a beta of 1.36. Amgen has a one year low of $152.16 and a one year high of $201.23. The company has a quick ratio of 5.17, a current ratio of 5.49 and a debt-to-equity ratio of 1.35.
Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Tuesday, April 24th. The medical research company reported $3.47 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.24 by $0.23. The business had revenue of $5.55 billion during the quarter, compared to analyst estimates of $5.44 billion. Amgen had a net margin of 8.66% and a return on equity of 30.87%. The company’s quarterly revenue was up 1.6% on a year-over-year basis. During the same period in the prior year, the firm posted $3.15 earnings per share. analysts predict that Amgen will post 13.28 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 8th. Shareholders of record on Thursday, May 17th will be given a dividend of $1.32 per share. This represents a $5.28 annualized dividend and a dividend yield of 3.07%. The ex-dividend date of this dividend is Wednesday, May 16th. Amgen’s payout ratio is 41.97%.
Amgen announced that its board has approved a stock buyback plan on Thursday, February 1st that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the medical research company to purchase shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its stock is undervalued.
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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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