Renaissance Group LLC raised its position in shares of Amgen Inc. (NASDAQ:AMGN) by 5.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 193,260 shares of the medical research company’s stock after buying an additional 9,415 shares during the period. Amgen comprises approximately 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 large investors have also bought and sold shares of AMGN. Moloney Securities Asset Management LLC acquired a new stake in Amgen during the fourth quarter worth approximately $984,000. Quest Investment Management Inc. OR increased its stake in Amgen by 2,608.6% in the fourth quarter. Quest Investment Management Inc. OR now owns 59,372 shares of the medical research company’s stock worth $8,681,000 after buying an additional 57,180 shares in the last quarter. Cheviot Value Management LLC acquired a new stake in Amgen during the fourth quarter worth approximately $234,000. SRS Capital Advisors Inc. acquired a new stake in Amgen during the fourth quarter worth approximately $202,000. Finally, Bogle Investment Management L P DE increased its stake in Amgen by 25.1% in the fourth quarter. Bogle Investment Management L P DE now owns 81,828 shares of the medical research company’s stock worth $11,964,000 after buying an additional 16,400 shares in the last quarter. Institutional investors own 79.12% of the company’s stock.
Shares of Amgen Inc. (NASDAQ AMGN) traded down 0.31% during midday trading on Friday, reaching $167.29. The company’s stock had a trading volume of 1,741,936 shares. The stock’s 50 day moving average is $174.04 and its 200 day moving average is $168.05. The stock has a market capitalization of $122.07 billion, a PE ratio of 15.24 and a beta of 1.35. Amgen Inc. has a 12 month low of $133.64 and a 12 month high of $184.21.
Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Tuesday, July 25th. The medical research company reported $3.27 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.11 by $0.16. The firm had revenue of $5.81 billion for the quarter, compared to analyst estimates of $5.67 billion. Amgen had a net margin of 35.46% and a return on equity of 29.85%. The firm’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.84 earnings per share. On average, analysts forecast that Amgen Inc. will post $12.57 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 8th. Shareholders of record on Thursday, August 17th will be given a $1.15 dividend. The ex-dividend date of this dividend is Tuesday, August 15th. This represents a $4.60 annualized dividend and a yield of 2.75%. Amgen’s dividend payout ratio (DPR) is 41.93%.
A number of equities research analysts have recently weighed in on the company. BMO Capital Markets cut Amgen from an “outperform” rating to a “market perform” rating and set a $199.00 price objective for the company. in a research note on Friday, July 21st. They noted that the move was a valuation call. Jefferies Group LLC reissued a “hold” rating and set a $180.00 target price on shares of Amgen in a research note on Monday, May 22nd. Leerink Swann reissued a “market perform” rating and set a $161.00 target price on shares of Amgen in a research note on Thursday, June 22nd. Credit Suisse Group set a $177.00 target price on Amgen and gave the stock a “hold” rating in a research note on Friday, July 14th. Finally, UBS AG set a $180.00 target price on Amgen and gave the stock a “hold” rating in a research note on Wednesday, July 26th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Amgen currently has an average rating of “Buy” and a consensus target price of $186.64.
In other Amgen news, SVP Cynthia M. Patton sold 2,922 shares of Amgen stock in a transaction that occurred on Wednesday, May 24th. The shares were sold at an average price of $154.40, for a total transaction of $451,156.80. Following the transaction, the senior vice president now directly owns 24,214 shares in the company, valued at approximately $3,738,641.60. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.20% of the company’s stock.
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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