Sawtooth Solutions LLC Boosts Position in Amgen (AMGN)

Sawtooth Solutions LLC boosted its stake in shares of Amgen (NASDAQ:AMGN) by 23.6% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,017 shares of the medical research company’s stock after buying an additional 1,150 shares during the quarter. Sawtooth Solutions LLC’s holdings in Amgen were worth $1,026,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Geode Capital Management LLC boosted its position in Amgen by 2.5% during the fourth quarter. Geode Capital Management LLC now owns 8,110,133 shares of the medical research company’s stock worth $1,407,552,000 after purchasing an additional 199,838 shares during the period. Renaissance Technologies LLC boosted its position in Amgen by 16.9% during the fourth quarter. Renaissance Technologies LLC now owns 4,579,445 shares of the medical research company’s stock worth $796,365,000 after purchasing an additional 661,745 shares during the period. LSV Asset Management boosted its position in Amgen by 5.6% during the first quarter. LSV Asset Management now owns 4,028,784 shares of the medical research company’s stock worth $686,827,000 after purchasing an additional 214,013 shares during the period. Legal & General Group Plc boosted its position in Amgen by 1.6% during the third quarter. Legal & General Group Plc now owns 3,781,891 shares of the medical research company’s stock worth $705,099,000 after purchasing an additional 60,532 shares during the period. Finally, Schwab Charles Investment Management Inc. boosted its position in Amgen by 3.9% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 3,304,340 shares of the medical research company’s stock worth $574,680,000 after purchasing an additional 123,250 shares during the period. Institutional investors own 78.43% of the company’s stock.

A number of equities analysts have weighed in on AMGN shares. Cowen reiterated a “buy” rating and set a $204.00 target price on shares of Amgen in a research report on Friday, February 2nd. Mizuho reiterated a “buy” rating and set a $192.00 target price on shares of Amgen in a research report on Thursday, February 1st. Oppenheimer reiterated a “buy” rating and set a $205.00 target price on shares of Amgen in a research report on Tuesday, January 30th. Argus upgraded shares of Amgen from a “hold” rating to a “buy” rating and increased their target price for the stock from $192.33 to $220.00 in a research report on Tuesday, January 23rd. Finally, Zacks Investment Research upgraded shares of Amgen from a “hold” rating to a “buy” rating and set a $194.00 target price for the company in a research report on Thursday, April 5th. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and ten have assigned a buy rating to the company’s stock. Amgen presently has a consensus rating of “Hold” and an average price target of $191.70.

Shares of AMGN opened at $176.30 on Monday. The company has a market capitalization of $116.66 billion, a P/E ratio of 13.67, a P/E/G ratio of 2.18 and a beta of 1.36. The company has a current ratio of 3.88, a quick ratio of 3.60 and a debt-to-equity ratio of 2.14. Amgen has a 1-year low of $152.16 and a 1-year high of $201.23.

Amgen (NASDAQ:AMGN) last announced its earnings results on Tuesday, April 24th. The medical research company reported $3.47 earnings per share for the quarter, beating analysts’ consensus estimates of $3.24 by $0.23. The business had revenue of $5.55 billion for the quarter, compared to the consensus estimate of $5.44 billion. Amgen had a net margin of 9.67% and a return on equity of 35.80%. Amgen’s quarterly revenue was up 1.6% on a year-over-year basis. During the same period last year, the firm posted $3.15 earnings per share. analysts anticipate that Amgen will post 13.71 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, June 8th. Investors of record on Thursday, May 17th will be paid a $1.32 dividend. This represents a $5.28 dividend on an annualized basis and a yield of 2.99%. The ex-dividend date of this dividend is Wednesday, May 16th. Amgen’s dividend payout ratio is currently 41.97%.

Amgen announced that its Board of Directors has authorized a share repurchase plan on Thursday, February 1st that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the medical research company to repurchase shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

In related news, EVP Sean E. Harper sold 1,525 shares of the firm’s stock in a transaction that occurred on Friday, March 16th. The shares were sold at an average price of $189.75, for a total value of $289,368.75. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders sold 4,575 shares of company stock worth $818,208 over the last ninety days. 0.27% of the stock is currently owned by insiders.

About Amgen

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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