Amgen Inc. $AMGN Stake Cut by Danske Bank A S

Danske Bank A S reduced its position in shares of Amgen Inc. (NASDAQ:AMGN) by 6.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 378,028 shares of the medical research company’s stock after selling 26,003 shares during the period. Danske Bank A S’s holdings in Amgen were worth $159,343,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Rational Advisors Inc. raised its position in shares of Amgen by 13.7% during the 2nd quarter. Rational Advisors Inc. now owns 199 shares of the medical research company’s stock valued at $72,000 after buying an additional 24 shares during the period. Beacon Financial Advisory LLC lifted its holdings in Amgen by 2.0% in the second quarter. Beacon Financial Advisory LLC now owns 1,274 shares of the medical research company’s stock valued at $461,000 after acquiring an additional 25 shares during the last quarter. James T. Borello RIA grew its position in Amgen by 13.6% in the third quarter. James T. Borello RIA now owns 209 shares of the medical research company’s stock worth $88,000 after acquiring an additional 25 shares during the period. Sweeney & Michel LLC grew its position in Amgen by 0.5% in the third quarter. Sweeney & Michel LLC now owns 5,129 shares of the medical research company’s stock worth $2,162,000 after acquiring an additional 25 shares during the period. Finally, Legacy Financial Advisors Inc. grew its position in Amgen by 0.8% in the second quarter. Legacy Financial Advisors Inc. now owns 3,407 shares of the medical research company’s stock worth $1,234,000 after acquiring an additional 26 shares during the period. 76.50% of the stock is owned by hedge funds and other institutional investors.

Top Amgen Stories

Here are a few of the latest stories about AMGN:

• Positive Sentiment: Amgen said dazodalibep met key endpoints in a Phase 3 Sjögren’s disease trial, advancing the case for the drug as a potential future growth driver. Jefferies analysts said caveated comparisons suggest its efficacy may look stronger than Novartis’ registrational treatment. Article Article
• Neutral Sentiment: A comparison of Amgen and Vertex highlights Amgen’s broad global footprint and diversified medicines portfolio, but offers no clear near-term catalyst for the shares. Article
• Neutral Sentiment: A Trefis article examines Amgen’s valuation relative to peers, but the provided summary does not include its conclusion. Article

Amgen Stock Down 0.3%

Shares of AMGN traded down $1.39 during midday trading on Friday, hitting $465.67. The company had a trading volume of 2,122,101 shares, compared to its average volume of 2,720,013. The company’s 50-day simple moving average is $425.31 and its 200-day simple moving average is $381.17. The company has a debt-to-equity ratio of 3.60, a quick ratio of 1.20 and a current ratio of 1.48. The firm has a market capitalization of $251.89 billion, a P/E ratio of 27.01, a P/E/G ratio of 3.25 and a beta of 0.43. Amgen Inc. has a 1 year low of $312.39 and a 1 year high of $483.99.

Amgen (NASDAQ:AMGN) last released its earnings results on Tuesday, November 3rd. The medical research company reported $6.45 earnings per share for the quarter, topping analysts’ consensus estimates of $5.79 by $0.66. Amgen had a net margin of 24.14% and a return on equity of 114.99%. The firm had revenue of $10.37 billion for the quarter, compared to analyst estimates of $10.07 billion. During the same period in the prior year, the firm earned $5.64 earnings per share. The business’s quarterly revenue was up 8.5% compared to the same quarter last year. As a group, sell-side analysts expect that Amgen Inc. will post 23.37 EPS for the current year.

Amgen Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 11th. Investors of record on Friday, November 20th will be paid a $2.52 dividend. The ex-dividend date is Friday, November 20th. This represents a $10.08 dividend on an annualized basis and a yield of 2.2%. Amgen’s payout ratio is currently 58.47%.

Analyst Ratings Changes

A number of research analysts have commented on AMGN shares. Guggenheim upped their target price on shares of Amgen from $378.00 to $435.00 and gave the company a “neutral” rating in a research report on Thursday, November 5th. Mizuho increased their target price on shares of Amgen from $303.00 to $352.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 18th. Robert W. Baird lifted their price target on shares of Amgen from $215.00 to $230.00 and gave the company an “underperform” rating in a research report on Wednesday, August 5th. The Goldman Sachs Group boosted their price target on shares of Amgen from $481.00 to $536.00 and gave the company a “buy” rating in a research note on Wednesday, November 4th. Finally, William Blair restated an “outperform” rating on shares of Amgen in a report on Wednesday, November 4th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, eighteen have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, Amgen has an average rating of “Hold” and a consensus price target of $424.66.

Amgen Company Profile

Amgen is a biotechnology company that discovers, develops, manufactures and commercializes medicines for serious illnesses. Its research and product portfolio span areas including cancer, cardiovascular disease, inflammation, bone health and rare diseases. The company’s medicines include Enbrel, Prolia, Xgeva and Repatha. Amgen serves patients and healthcare providers in the United States and markets its products internationally. Founded in 1980 and headquartered in Thousand Oaks, California, Amgen is led by Robert A. Bradway, who has served as its chief executive officer since 2012.