Fmr LLC Reduces Position in Amgen, Inc. (AMGN)

Fmr LLC lessened its stake in shares of Amgen, Inc. (NASDAQ:AMGN) by 20.0% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 34,318,002 shares of the medical research company’s stock after selling 8,580,499 shares during the period. Amgen accounts for about 0.7% of Fmr LLC’s portfolio, making the stock its 20th largest position. Fmr LLC owned approximately 5.30% of Amgen worth $6,334,761,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Kwmg LLC bought a new stake in Amgen during the 2nd quarter valued at $108,000. Mainstay Capital Management LLC ADV bought a new stake in Amgen during the 2nd quarter valued at $111,000. WealthTrust Fairport LLC bought a new stake in Amgen during the 1st quarter valued at $121,000. Gables Capital Management Inc. bought a new stake in Amgen during the 1st quarter valued at $174,000. Finally, Mount Yale Investment Advisors LLC bought a new stake in Amgen during the 1st quarter valued at $181,000. Institutional investors own 82.38% of the company’s stock.

Several research firms have recently issued reports on AMGN. Cann reiterated a “buy” rating and issued a $224.00 target price on shares of Amgen in a research note on Monday, July 30th. Oppenheimer reiterated a “buy” rating and issued a $224.00 target price on shares of Amgen in a research note on Tuesday, August 28th. Mizuho reiterated a “buy” rating and issued a $200.00 target price on shares of Amgen in a research note on Friday, July 27th. Goldman Sachs Group reiterated a “buy” rating and issued a $228.00 target price on shares of Amgen in a research note on Friday, July 27th. Finally, Zacks Investment Research upgraded shares of Amgen from a “hold” rating to a “buy” rating and set a $234.00 target price for the company in a research note on Monday, October 1st. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eleven have given a buy rating to the company. Amgen has an average rating of “Hold” and an average target price of $204.90.

AMGN opened at $201.80 on Friday. The stock has a market cap of $131.21 billion, a P/E ratio of 15.06, a P/E/G ratio of 1.97 and a beta of 1.40. The company has a debt-to-equity ratio of 2.03, a current ratio of 3.39 and a quick ratio of 3.12. Amgen, Inc. has a fifty-two week low of $163.31 and a fifty-two week high of $210.19.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Thursday, July 26th. The medical research company reported $3.83 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.52 by $0.31. The company had revenue of $6.06 billion during the quarter, compared to analyst estimates of $5.73 billion. Amgen had a net margin of 10.19% and a return on equity of 43.18%. The firm’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.27 earnings per share. Analysts predict that Amgen, Inc. will post 14.02 earnings per share for the current year.

Amgen Company Profile

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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