Meeder Advisory Services Inc. Acquires 1,472 Shares of Amgen Inc. (NASDAQ:AMGN)

Meeder Advisory Services Inc. boosted its holdings in Amgen Inc. (NASDAQ:AMGN) by 11.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,140 shares of the medical research company’s stock after purchasing an additional 1,472 shares during the quarter. Meeder Advisory Services Inc.’s holdings in Amgen were worth $4,405,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in AMGN. Brighton Jones LLC boosted its stake in Amgen by 23.5% in the 4th quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company’s stock worth $7,159,000 after purchasing an additional 5,226 shares during the period. Arrowstreet Capital Limited Partnership bought a new position in Amgen in the 4th quarter worth approximately $8,798,000. CIBC Private Wealth Group LLC boosted its stake in Amgen by 3.4% in the 4th quarter. CIBC Private Wealth Group LLC now owns 328,563 shares of the medical research company’s stock worth $86,810,000 after purchasing an additional 10,946 shares during the period. Skba Capital Management LLC boosted its stake in Amgen by 17.5% in the 4th quarter. Skba Capital Management LLC now owns 24,160 shares of the medical research company’s stock worth $6,297,000 after purchasing an additional 3,600 shares during the period. Finally, Wellington Management Group LLP boosted its stake in Amgen by 22.7% in the 4th quarter. Wellington Management Group LLP now owns 293,675 shares of the medical research company’s stock worth $76,543,000 after purchasing an additional 54,321 shares during the period. 76.50% of the stock is currently owned by institutional investors.

Amgen Stock Performance

AMGN stock opened at $301.29 on Tuesday. The company has a quick ratio of 0.88, a current ratio of 1.17 and a debt-to-equity ratio of 8.70. The business’s fifty day simple moving average is $289.90 and its two-hundred day simple moving average is $291.34. Amgen Inc. has a twelve month low of $253.30 and a twelve month high of $340.89. The firm has a market cap of $162.01 billion, a price-to-earnings ratio of 27.49, a PEG ratio of 2.65 and a beta of 0.49.

Amgen (NASDAQ:AMGN) last released its earnings results on Thursday, May 1st. The medical research company reported $4.90 earnings per share for the quarter, topping analysts’ consensus estimates of $4.18 by $0.72. Amgen had a return on equity of 176.11% and a net margin of 17.39%. The business had revenue of $8.15 billion for the quarter, compared to analyst estimates of $8.05 billion. During the same quarter last year, the firm posted $3.96 earnings per share. The business’s revenue was up 9.4% compared to the same quarter last year. Analysts predict that Amgen Inc. will post 20.62 earnings per share for the current year.

Insiders Place Their Bets

In other Amgen news, SVP Rachna Khosla sold 1,500 shares of the stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $289.68, for a total value of $434,520.00. Following the sale, the senior vice president owned 8,162 shares in the company, valued at $2,364,368.16. This trade represents a 15.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.69% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on AMGN. Cantor Fitzgerald reiterated a “neutral” rating and set a $305.00 target price on shares of Amgen in a research report on Tuesday, June 24th. Guggenheim began coverage on Amgen in a research report on Tuesday, May 20th. They set a “neutral” rating and a $288.00 target price for the company. Bank of America increased their target price on Amgen from $252.00 to $261.00 and gave the company an “underperform” rating in a research report on Wednesday, July 23rd. Royal Bank Of Canada lowered their target price on Amgen from $324.00 to $320.00 and set an “outperform” rating for the company in a research report on Friday, May 2nd. Finally, UBS Group increased their target price on Amgen from $315.00 to $326.00 and gave the company a “neutral” rating in a research report on Monday, July 21st. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Amgen presently has a consensus rating of “Hold” and a consensus target price of $307.27.

Amgen Profile

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. The company's principal products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Prolia to treat postmenopausal women with osteoporosis; XGEVA for skeletal-related events prevention; Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization; Nplate for the treatment of patients with immune thrombocytopenia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; Aranesp to treat a lower-than-normal number of red blood cells and anemia; EVENITY for the treatment of osteoporosis in postmenopausal for men and women; Vectibix to treat patients with wild-type RAS metastatic colorectal cancer; BLINCYTO for the treatment of patients with acute lymphoblastic leukemia; TEPEZZA to treat thyroid eye disease; and KRYSTEXXA for the treatment of chronic refractory gout.