Orbimed Advisors LLC Sells 321,210 Shares of Amgen, Inc. (AMGN)

Orbimed Advisors LLC decreased its position in Amgen, Inc. (NASDAQ:AMGN) by 72.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 124,100 shares of the medical research company’s stock after selling 321,210 shares during the quarter. Orbimed Advisors LLC’s holdings in Amgen were worth $22,908,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Beutel Goodman & Co Ltd. bought a new position in Amgen during the second quarter valued at about $86,723,000. Perpetual Ltd grew its position in Amgen by 10.3% during the second quarter. Perpetual Ltd now owns 8,554 shares of the medical research company’s stock valued at $1,582,000 after buying an additional 800 shares during the period. Ancora Advisors LLC bought a new position in Amgen during the first quarter valued at about $3,520,000. Schwab Charles Investment Management Inc. grew its position in Amgen by 2.3% during the second quarter. Schwab Charles Investment Management Inc. now owns 3,207,242 shares of the medical research company’s stock valued at $592,025,000 after buying an additional 72,205 shares during the period. Finally, ACG Wealth grew its position in Amgen by 8.2% during the second quarter. ACG Wealth now owns 8,891 shares of the medical research company’s stock valued at $1,640,000 after buying an additional 674 shares during the period. Hedge funds and other institutional investors own 82.44% of the company’s stock.

In other news, EVP Sean E. Harper sold 1,525 shares of the stock in a transaction dated Monday, July 16th. The shares were sold at an average price of $195.71, for a total value of $298,457.75. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.27% of the company’s stock.

Several research firms recently weighed in on AMGN. Jefferies Financial Group restated a “buy” rating and set a $220.00 price target on shares of Amgen in a research report on Friday, August 24th. Leerink Swann set a $209.00 price objective on shares of Amgen and gave the company a “hold” rating in a report on Monday. TheStreet raised shares of Amgen from a “c+” rating to a “b-” rating in a report on Friday, May 25th. Citigroup upped their price objective on shares of Amgen from $188.00 to $200.00 and gave the company a “neutral” rating in a report on Monday, July 30th. Finally, Piper Jaffray Companies upped their price objective on shares of Amgen from $190.00 to $210.00 and gave the company an “overweight” rating in a report on Thursday, July 26th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eleven have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $203.03.

Shares of Amgen stock opened at $200.81 on Tuesday. Amgen, Inc. has a 12-month low of $163.31 and a 12-month high of $204.42. The stock has a market capitalization of $129.83 billion, a PE ratio of 15.96, a PEG ratio of 1.96 and a beta of 1.40. The company has a current ratio of 3.39, a quick ratio of 3.12 and a debt-to-equity ratio of 2.03.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Thursday, July 26th. The medical research company reported $3.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.52 by $0.31. Amgen had a net margin of 10.19% and a return on equity of 43.18%. The firm had revenue of $6.06 billion for the quarter, compared to the consensus estimate of $5.73 billion. During the same period in the prior year, the firm posted $3.27 earnings per share. The company’s revenue for the quarter was up 4.3% on a year-over-year basis. analysts anticipate that Amgen, Inc. will post 13.95 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, September 7th. Stockholders of record on Friday, August 17th were issued a $1.32 dividend. This represents a $5.28 dividend on an annualized basis and a dividend yield of 2.63%. The ex-dividend date was Thursday, August 16th. Amgen’s payout ratio is 41.97%.

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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