First American Trust FSB purchased a new position in Amgen, Inc. (NASDAQ:AMGN) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,562 shares of the medical research company’s stock, valued at approximately $289,000.
Several other hedge funds also recently made changes to their positions in the company. Barrow Hanley Mewhinney & Strauss LLC grew its position in Amgen by 110.7% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 647 shares of the medical research company’s stock valued at $113,000 after buying an additional 340 shares during the period. Braun Bostich & Associates Inc. bought a new stake in Amgen during the first quarter valued at approximately $113,000. WealthTrust Fairport LLC bought a new stake in Amgen during the first quarter valued at approximately $121,000. Cornerstone Advisors Inc. grew its position in Amgen by 76.5% during the first quarter. Cornerstone Advisors Inc. now owns 729 shares of the medical research company’s stock valued at $124,000 after buying an additional 316 shares during the period. Finally, Taylor Hoffman Wealth Management bought a new stake in Amgen during the fourth quarter valued at approximately $127,000. Hedge funds and other institutional investors own 78.34% of the company’s stock.
In other news, EVP Sean E. Harper sold 1,525 shares of the business’s stock in a transaction on Tuesday, June 12th. The shares were sold at an average price of $184.27, for a total value of $281,011.75. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders sold 4,575 shares of company stock worth $809,851 in the last three months. Insiders own 0.19% of the company’s stock.
Shares of Amgen opened at $191.01 on Friday, MarketBeat.com reports. Amgen, Inc. has a 1-year low of $163.31 and a 1-year high of $201.23. The company has a current ratio of 3.88, a quick ratio of 3.60 and a debt-to-equity ratio of 2.14. The company has a market cap of $122.89 billion, a price-to-earnings ratio of 15.18, a PEG ratio of 2.31 and a beta of 1.38.
Amgen (NASDAQ:AMGN) last released its earnings results on Tuesday, April 24th. The medical research company reported $3.47 EPS for the quarter, topping the consensus estimate of $3.24 by $0.23. Amgen had a net margin of 9.67% and a return on equity of 35.80%. The firm had revenue of $5.55 billion for the quarter, compared to the consensus estimate of $5.44 billion. During the same quarter in the previous year, the firm earned $3.15 earnings per share. The company’s quarterly revenue was up 1.6% compared to the same quarter last year. equities research analysts predict that Amgen, Inc. will post 13.67 EPS for the current fiscal year.
Several brokerages recently issued reports on AMGN. Mizuho restated a “buy” rating and set a $200.00 target price on shares of Amgen in a research report on Friday, June 22nd. Cann restated a “buy” rating on shares of Amgen in a research report on Friday, June 8th. Zacks Investment Research upgraded shares of Amgen from a “hold” rating to a “buy” rating and set a $207.00 target price for the company in a research report on Tuesday, June 26th. BidaskClub upgraded shares of Amgen from a “hold” rating to a “buy” rating in a research report on Monday, June 18th. Finally, TheStreet upgraded shares of Amgen from a “c+” rating to a “b-” rating in a research report on Friday, May 25th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and twelve have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $195.45.
Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It offers products for the treatment of oncology/hematology, cardiovascular, inflammation, bone health, nephrology, and neuroscience. The company's products include Evenity to treat osteoporosis in postmenopausal women; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Repatha to treat coronary diseases; Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Parsabiv to treat secondary hyperparathyroidism (sHPT); and Aimovig for the prevention of migraine.
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