Fmr LLC Decreases Stake in Amgen, Inc. (NASDAQ:AMGN)

Fmr LLC cut its holdings in Amgen, Inc. (NASDAQ:AMGN) by 23.5% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 25,346,982 shares of the medical research company’s stock after selling 7,771,431 shares during the period. Amgen makes up about 0.6% of Fmr LLC’s portfolio, making the stock its 20th largest holding. Fmr LLC’s holdings in Amgen were worth $4,815,419,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Ruggie Capital Group boosted its stake in Amgen by 297.1% during the 4th quarter. Ruggie Capital Group now owns 135 shares of the medical research company’s stock valued at $26,000 after purchasing an additional 101 shares during the period. Capital Financial Planning LLC acquired a new position in Amgen during the 4th quarter valued at about $27,000. Next Capital Management LLC acquired a new position in Amgen during the 4th quarter valued at about $33,000. Essex Investment Management Co. LLC acquired a new position in Amgen during the 4th quarter valued at about $39,000. Finally, C J Advisory Inc acquired a new position in Amgen during the 1st quarter valued at about $40,000. 77.23% of the stock is owned by institutional investors and hedge funds.

Shares of AMGN stock traded up $1.77 during midday trading on Monday, reaching $177.85. 266,808 shares of the company were exchanged, compared to its average volume of 2,540,762. Amgen, Inc. has a 12 month low of $166.30 and a 12 month high of $210.19. The company has a market capitalization of $107.40 billion, a price-to-earnings ratio of 12.35, a price-to-earnings-growth ratio of 2.14 and a beta of 1.13. The company has a current ratio of 2.77, a quick ratio of 2.53 and a debt-to-equity ratio of 2.71.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Tuesday, April 30th. The medical research company reported $3.56 EPS for the quarter, topping analysts’ consensus estimates of $3.45 by $0.11. Amgen had a net margin of 34.00% and a return on equity of 71.02%. The company had revenue of $5.56 billion for the quarter, compared to the consensus estimate of $5.55 billion. During the same period in the previous year, the firm earned $3.47 EPS. Amgen’s revenue was up .1% on a year-over-year basis. On average, equities research analysts predict that Amgen, Inc. will post 13.91 earnings per share for the current year.

In other Amgen news, Director Ronald D. Sugar sold 2,000 shares of the business’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $175.73, for a total transaction of $351,460.00. Following the sale, the director now directly owns 15,092 shares in the company, valued at approximately $2,652,117.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold a total of 6,000 shares of company stock worth $1,089,180 over the last 90 days. 0.25% of the stock is owned by insiders.

AMGN has been the subject of a number of analyst reports. Zacks Investment Research lowered shares of Amgen from a “buy” rating to a “hold” rating in a research note on Monday, April 15th. Cowen reissued a “buy” rating and set a $229.00 target price on shares of Amgen in a research note on Wednesday, May 1st. Mizuho reissued a “buy” rating and set a $208.00 target price on shares of Amgen in a research note on Friday, May 17th. BidaskClub raised shares of Amgen from a “sell” rating to a “hold” rating in a research note on Tuesday, June 11th. Finally, BMO Capital Markets initiated coverage on shares of Amgen in a research note on Thursday, March 14th. They set an “outperform” rating and a $228.00 target price for the company. Ten analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Amgen currently has an average rating of “Buy” and an average price target of $208.35.

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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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Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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