Ocean Capital Management LLC cut its stake in shares of Amgen, Inc. (NASDAQ:AMGN) by 5.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,850 shares of the medical research company’s stock after selling 110 shares during the quarter. Ocean Capital Management LLC’s holdings in Amgen were worth $351,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Commonwealth Bank of Australia lifted its position in shares of Amgen by 19.7% during the fourth quarter. Commonwealth Bank of Australia now owns 66,961 shares of the medical research company’s stock valued at $13,027,000 after purchasing an additional 11,040 shares in the last quarter. Phocas Financial Corp. bought a new position in shares of Amgen during the fourth quarter valued at about $117,000. Duality Advisers LP bought a new position in shares of Amgen during the fourth quarter valued at about $3,983,000. Chicago Partners Investment Group LLC lifted its position in shares of Amgen by 76.9% during the first quarter. Chicago Partners Investment Group LLC now owns 2,485 shares of the medical research company’s stock valued at $441,000 after purchasing an additional 1,080 shares in the last quarter. Finally, Foundry Partners LLC lifted its position in shares of Amgen by 0.5% during the first quarter. Foundry Partners LLC now owns 97,255 shares of the medical research company’s stock valued at $18,477,000 after purchasing an additional 525 shares in the last quarter. 77.23% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms recently weighed in on AMGN. Zacks Investment Research lowered shares of Amgen from a “buy” rating to a “hold” rating in a research report on Friday, April 5th. Mizuho set a $208.00 price target on shares of Amgen and gave the company a “buy” rating in a research report on Friday, April 12th. Cowen reissued a “buy” rating and set a $234.00 price target on shares of Amgen in a research report on Tuesday, February 26th. Cantor Fitzgerald restated a “hold” rating and set a $221.00 price objective on shares of Amgen in a report on Monday, April 1st. Finally, BMO Capital Markets started coverage on shares of Amgen in a report on Thursday, March 14th. They set an “outperform” rating and a $228.00 price objective for the company. Ten equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $208.35.
AMGN opened at $176.08 on Monday. The stock has a market capitalization of $107.40 billion, a PE ratio of 12.23, a price-to-earnings-growth ratio of 2.14 and a beta of 1.13. The company has a debt-to-equity ratio of 2.71, a current ratio of 2.77 and a quick ratio of 2.53. Amgen, Inc. has a twelve month low of $166.30 and a twelve month high of $210.19.
Amgen (NASDAQ:AMGN) last posted its earnings results on Tuesday, April 30th. The medical research company reported $3.56 earnings per share for the quarter, topping the consensus estimate of $3.45 by $0.11. The firm had revenue of $5.56 billion during the quarter, compared to the consensus estimate of $5.55 billion. Amgen had a net margin of 34.00% and a return on equity of 71.02%. The company’s revenue was up .1% on a year-over-year basis. During the same quarter last year, the company earned $3.47 earnings per share. On average, equities research analysts anticipate that Amgen, Inc. will post 13.91 EPS for the current fiscal year.
In other news, Director Ronald D. Sugar sold 2,000 shares of Amgen stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $193.18, for a total value of $386,360.00. Following the completion of the transaction, the director now owns 15,092 shares in the company, valued at $2,915,472.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 6,000 shares of company stock valued at $1,089,180 in the last quarter. Corporate insiders own 0.25% of the company’s stock.
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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, and neuroscience. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta, a pegylated protein to treat cancer patients; Prolia to treat postmenopausal women with osteoporosis; Aranesp to treat anemia; Xgeva for skeletal-related events prevention; Sensipar/Mimpara products to treat sHPT in chronic kidney disease; and EPOGEN to treat a lower-than-normal number of red blood cells.
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