1ST Source Bank raised its holdings in Amgen, Inc. (NASDAQ:AMGN) by 19.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,746 shares of the medical research company’s stock after buying an additional 622 shares during the quarter. 1ST Source Bank’s holdings in Amgen were worth $712,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of the business. BlackRock Inc. increased its holdings in shares of Amgen by 2.0% during the fourth quarter. BlackRock Inc. now owns 46,127,396 shares of the medical research company’s stock valued at $8,979,621,000 after acquiring an additional 906,568 shares in the last quarter. Oregon Public Employees Retirement Fund increased its holdings in shares of Amgen by 20,103.6% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 31,424,215 shares of the medical research company’s stock valued at $161,000 after acquiring an additional 31,268,677 shares in the last quarter. Northern Trust Corp increased its holdings in shares of Amgen by 4.7% during the fourth quarter. Northern Trust Corp now owns 9,182,050 shares of the medical research company’s stock valued at $1,787,470,000 after acquiring an additional 408,675 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Amgen by 5.8% during the fourth quarter. Geode Capital Management LLC now owns 8,850,224 shares of the medical research company’s stock valued at $1,720,250,000 after acquiring an additional 482,760 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Amgen during the fourth quarter valued at approximately $1,283,248,000. 77.29% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms have recently commented on AMGN. Mizuho set a $208.00 price objective on Amgen and gave the company a “buy” rating in a report on Friday, April 12th. Royal Bank of Canada restated a “neutral” rating and set a $192.00 price objective on shares of Amgen in a report on Tuesday, May 21st. Oppenheimer set a $210.00 price objective on Amgen and gave the company a “buy” rating in a report on Friday, May 24th. BidaskClub upgraded Amgen from a “sell” rating to a “hold” rating in a report on Tuesday. Finally, Citigroup upgraded Amgen from a “neutral” rating to a “buy” rating and decreased their price objective for the company from $211.00 to $205.00 in a report on Wednesday, May 22nd. Ten research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $208.35.
Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Tuesday, April 30th. The medical research company reported $3.56 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.45 by $0.11. Amgen had a return on equity of 71.02% and a net margin of 34.00%. The business had revenue of $5.56 billion during the quarter, compared to the consensus estimate of $5.55 billion. During the same quarter in the prior year, the company posted $3.47 earnings per share. Amgen’s revenue was up .1% compared to the same quarter last year. On average, equities analysts anticipate that Amgen, Inc. will post 13.91 EPS for the current year.
In related news, Director Ronald D. Sugar sold 2,000 shares of the company’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $175.73, for a total transaction of $351,460.00. Following the completion of the sale, the director now owns 15,092 shares in the company, valued at $2,652,117.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have sold 6,000 shares of company stock valued at $1,089,180 in the last quarter. 0.25% of the stock is currently owned by corporate insiders.
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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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