Renaissance Group LLC increased its position in Amgen Inc. (NASDAQ:AMGN) by 5.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 193,260 shares of the medical research company’s stock after buying an additional 9,415 shares during the period. Amgen makes up about 1.2% of Renaissance Group LLC’s investment portfolio, making the stock its 26th largest position. Renaissance Group LLC’s holdings in Amgen were worth $31,708,000 at the end of the most recent reporting period.
A number of other institutional investors also recently made changes to their positions in the company. Capital Advantage Inc. raised its position in shares of Amgen by 6.1% in the first quarter. Capital Advantage Inc. now owns 2,133 shares of the medical research company’s stock worth $350,000 after buying an additional 122 shares during the last quarter. Baltimore Capital Management Inc. bought a new position in shares of Amgen during the first quarter worth $205,000. AMG Funds LLC raised its position in shares of Amgen by 0.4% in the first quarter. AMG Funds LLC now owns 10,089 shares of the medical research company’s stock worth $1,655,000 after buying an additional 41 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Amgen by 2.3% in the first quarter. Bank of New York Mellon Corp now owns 8,555,356 shares of the medical research company’s stock worth $1,403,676,000 after buying an additional 195,200 shares during the last quarter. Finally, Strategic Advisors LLC bought a new position in shares of Amgen during the first quarter worth $429,000. 78.87% of the stock is owned by hedge funds and other institutional investors.
Amgen Inc. (NASDAQ:AMGN) opened at 181.06 on Tuesday. The company has a market capitalization of $133.15 billion, a PE ratio of 17.20 and a beta of 1.35. The firm has a 50-day moving average of $170.78 and a 200 day moving average of $165.90. Amgen Inc. has a 12-month low of $133.64 and a 12-month high of $184.21.
Amgen (NASDAQ:AMGN) last released its earnings results on Wednesday, April 26th. The medical research company reported $3.15 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.00 by $0.15. The firm had revenue of $5.46 billion for the quarter, compared to analysts’ expectations of $5.60 billion. Amgen had a net margin of 34.42% and a return on equity of 29.37%. The company’s quarterly revenue was down 1.1% on a year-over-year basis. During the same period in the previous year, the company earned $2.90 earnings per share. Analysts forecast that Amgen Inc. will post $12.47 EPS for the current fiscal year.
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A number of equities analysts recently weighed in on the stock. Cowen and Company reaffirmed an “outperform” rating and issued a $209.00 target price on shares of Amgen in a research note on Saturday. BMO Capital Markets reaffirmed a “buy” rating and issued a $199.00 target price on shares of Amgen in a research note on Friday. Jefferies Group LLC reaffirmed a “buy” rating and issued a $195.00 target price on shares of Amgen in a research note on Monday, July 17th. Credit Suisse Group set a $177.00 target price on shares of Amgen and gave the stock a “hold” rating in a research note on Friday, July 14th. Finally, Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and issued a $189.00 target price on shares of Amgen in a research note on Friday, July 14th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, twelve have given a buy rating and three have issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $185.21.
In other Amgen news, SVP Cynthia M. Patton sold 2,922 shares of the business’s stock in a transaction dated Wednesday, May 24th. The shares were sold at an average price of $154.40, for a total value of $451,156.80. Following the transaction, the senior vice president now directly owns 24,214 shares in the company, valued at $3,738,641.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.20% of the stock is owned by insiders.
Amgen Company Profile
Amgen Inc is a biotechnology company. The Company discovers, develops, manufactures and delivers various human therapeutics. It operates in human therapeutics segment. Its marketed products portfolio includes Neulasta (pegfilgrastim); erythropoiesis-stimulating agents (ESAs), such as Aranesp (darbepoetin alfa) and EPOGEN (epoetin alfa); Sensipar/Mimpara (cinacalcet); XGEVA (denosumab); Prolia (denosumab); NEUPOGEN (filgrastim), and other marketed products, such as KYPROLIS (carfilzomib), Vectibix (panitumumab), Nplate (romiplostim), Repatha (evolocumab), BLINCYTO (blinatumomab), IMLYGIC (talimogene laherparepvec) and Corlanor (ivabradine).
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