Envestnet Asset Management Inc. raised its stake in Amgen, Inc. (NASDAQ:AMGN) by 1.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 484,456 shares of the medical research company’s stock after buying an additional 6,169 shares during the period. Envestnet Asset Management Inc.’s holdings in Amgen were worth $93,747,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AMGN. BlackRock Inc. lifted its stake in shares of Amgen by 3.4% in the 2nd quarter. BlackRock Inc. now owns 47,717,316 shares of the medical research company’s stock valued at $8,793,346,000 after purchasing an additional 1,585,911 shares during the period. Morgan Stanley raised its stake in Amgen by 0.5% during the 2nd quarter. Morgan Stanley now owns 6,753,145 shares of the medical research company’s stock worth $1,244,470,000 after buying an additional 34,674 shares during the period. Nuveen Asset Management LLC raised its stake in Amgen by 1,334.9% during the 2nd quarter. Nuveen Asset Management LLC now owns 4,942,807 shares of the medical research company’s stock worth $910,860,000 after buying an additional 4,598,329 shares during the period. Price T Rowe Associates Inc. MD raised its stake in Amgen by 9.4% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 2,780,461 shares of the medical research company’s stock worth $512,383,000 after buying an additional 239,576 shares during the period. Finally, Putnam Investments LLC raised its stake in Amgen by 8.9% during the 2nd quarter. Putnam Investments LLC now owns 1,851,073 shares of the medical research company’s stock worth $341,116,000 after buying an additional 151,910 shares during the period. Hedge funds and other institutional investors own 76.32% of the company’s stock.
Several brokerages have recently commented on AMGN. Cantor Fitzgerald set a $230.00 price objective on Amgen and gave the stock a “hold” rating in a research note on Monday, September 30th. William Blair reissued a “hold” rating on shares of Amgen in a research note on Friday, August 30th. Royal Bank of Canada reissued a “hold” rating on shares of Amgen in a research note on Monday, September 30th. Wells Fargo & Co reissued a “market perform” rating and issued a $220.00 price objective (up from $202.00) on shares of Amgen in a research note on Tuesday, August 27th. They noted that the move was a valuation call. Finally, Piper Jaffray Companies increased their price objective on Amgen from $210.00 to $218.00 and gave the stock an “overweight” rating in a research note on Monday, August 26th. Eleven investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $217.28.
AMGN stock opened at $202.72 on Friday. The firm has a market cap of $121.57 billion, a PE ratio of 14.08, a P/E/G ratio of 2.69 and a beta of 1.11. The company has a quick ratio of 2.60, a current ratio of 2.89 and a debt-to-equity ratio of 2.58. The business has a 50 day moving average of $199.46 and a 200-day moving average of $186.80. Amgen, Inc. has a 12-month low of $166.30 and a 12-month high of $211.90.
Amgen (NASDAQ:AMGN) last released its earnings results on Tuesday, July 30th. The medical research company reported $3.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.58 by $0.39. The company had revenue of $5.87 billion during the quarter, compared to analyst estimates of $5.67 billion. Amgen had a return on equity of 76.17% and a net margin of 33.78%. Amgen’s quarterly revenue was down 3.1% on a year-over-year basis. During the same period in the prior year, the company posted $3.83 earnings per share. On average, research analysts expect that Amgen, Inc. will post 14.33 earnings per share for the current year.
In other news, SVP Cynthia M. Patton sold 13,426 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $208.07, for a total value of $2,793,547.82. Following the completion of the transaction, the senior vice president now directly owns 32,648 shares of the company’s stock, valued at $6,793,069.36. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director R Sanders Williams sold 425 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $183.04, for a total value of $77,792.00. Following the completion of the transaction, the director now directly owns 16,336 shares of the company’s stock, valued at $2,990,141.44. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 17,851 shares of company stock valued at $3,671,900. 0.25% of the stock is currently owned by corporate insiders.
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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