New England Research & Management Inc. reduced its holdings in shares of Amgen, Inc. (NASDAQ:AMGN) by 9.9% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 4,752 shares of the medical research company’s stock after selling 525 shares during the period. New England Research & Management Inc.’s holdings in Amgen were worth $877,000 as of its most recent filing with the SEC.
A number of other institutional investors have also modified their holdings of the business. Brown Advisory Inc. grew its position in Amgen by 1.9% during the 1st quarter. Brown Advisory Inc. now owns 186,410 shares of the medical research company’s stock worth $31,779,000 after purchasing an additional 3,452 shares during the last quarter. Mount Yale Investment Advisors LLC purchased a new position in Amgen during the 1st quarter worth $181,000. Greenline Partners LLC grew its position in Amgen by 4.2% during the 1st quarter. Greenline Partners LLC now owns 45,043 shares of the medical research company’s stock worth $7,679,000 after purchasing an additional 1,802 shares during the last quarter. Altium Wealth Management LLC grew its position in Amgen by 13.0% during the 1st quarter. Altium Wealth Management LLC now owns 3,212 shares of the medical research company’s stock worth $548,000 after purchasing an additional 369 shares during the last quarter. Finally, WealthTrust Fairport LLC purchased a new position in Amgen during the 1st quarter worth $121,000. 78.34% of the stock is currently owned by institutional investors.
Shares of Amgen traded up $2.00, hitting $187.71, during midday trading on Thursday, according to Marketbeat. The company had a trading volume of 51,947 shares, compared to its average volume of 2,968,421. The company has a quick ratio of 3.60, a current ratio of 3.88 and a debt-to-equity ratio of 2.14. Amgen, Inc. has a twelve month low of $163.31 and a twelve month high of $201.23. The stock has a market capitalization of $122.89 billion, a price-to-earnings ratio of 14.91, a price-to-earnings-growth ratio of 2.31 and a beta of 1.38.
Amgen (NASDAQ:AMGN) last announced its quarterly earnings data 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. Amgen had a net margin of 9.67% and a return on equity of 35.80%. The firm had revenue of $5.55 billion during the quarter, compared to analysts’ expectations of $5.44 billion. During the same quarter last year, the business earned $3.15 earnings per share. The business’s revenue for the quarter was up 1.6% compared to the same quarter last year. equities research analysts expect that Amgen, Inc. will post 13.67 EPS for the current fiscal year.
Several research firms have recently commented on AMGN. TheStreet cut shares of Amgen from a “b-” rating to a “c+” rating in a research note on Wednesday, April 11th. Morgan Stanley reduced their target price on shares of Amgen from $205.00 to $200.00 and set an “overweight” rating for the company in a research note on Wednesday, April 25th. Cowen restated a “buy” rating and issued a $204.00 target price on shares of Amgen in a research note on Tuesday, April 24th. Zacks Investment Research cut shares of Amgen from a “buy” rating to a “hold” rating in a research note on Tuesday, April 17th. Finally, Royal Bank of Canada reduced their target price on shares of Amgen to $183.00 and set a “sector perform” rating for the company in a research note on Wednesday, April 25th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and twelve have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $195.45.
In related news, EVP Sean E. Harper sold 1,525 shares of the firm’s stock in a transaction dated Monday, May 14th. The shares were sold at an average price of $174.10, for a total value of $265,502.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 4,575 shares of company stock valued at $809,851 in the last quarter. Company insiders own 0.19% 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, 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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