Northwest Bancshares Inc. Increases Stock Position in Amgen, Inc. (NASDAQ:AMGN)

Northwest Bancshares Inc. boosted its stake in shares of Amgen, Inc. (NASDAQ:AMGN) by 6.3% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 16,338 shares of the medical research company’s stock after acquiring an additional 964 shares during the quarter. Amgen makes up 1.3% of Northwest Bancshares Inc.’s investment portfolio, making the stock its 23rd biggest position. Northwest Bancshares Inc.’s holdings in Amgen were worth $3,011,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Weaver Consulting Group acquired a new stake in shares of Amgen during the first quarter worth about $239,000. Commonwealth Bank of Australia lifted its position in shares of Amgen by 19.7% during the fourth quarter. Commonwealth Bank of Australia now owns 66,961 shares of the medical research company’s stock worth $13,027,000 after purchasing an additional 11,040 shares in the last quarter. Phocas Financial Corp. acquired a new stake in shares of Amgen during the fourth quarter worth about $117,000. Duality Advisers LP acquired a new stake in shares of Amgen during the fourth quarter worth about $3,983,000. Finally, Calton & Associates Inc. lifted its position in shares of Amgen by 17.8% during the second quarter. Calton & Associates Inc. now owns 1,770 shares of the medical research company’s stock worth $326,000 after purchasing an additional 268 shares in the last quarter. 77.26% of the stock is owned by institutional investors.

NASDAQ:AMGN traded up $0.09 during mid-day trading on Friday, hitting $174.20. The stock had a trading volume of 86,200 shares, compared to its average volume of 2,410,211. The firm’s 50-day simple moving average is $180.28. The company has a market capitalization of $106.24 billion, a P/E ratio of 12.09, a PEG ratio of 2.15 and a beta of 1.16. Amgen, Inc. has a twelve month low of $166.30 and a twelve month high of $210.19. The company has a quick ratio of 2.53, a current ratio of 2.77 and a debt-to-equity ratio of 2.71.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Tuesday, April 30th. The medical research company reported $3.56 earnings per share for the quarter, topping analysts’ consensus estimates of $3.45 by $0.11. Amgen had a net margin of 34.00% and a return on equity of 71.02%. The company had revenue of $5.56 billion for the quarter, compared to analysts’ expectations of $5.55 billion. During the same quarter last year, the company earned $3.47 earnings per share. The firm’s revenue for the quarter was up .1% on a year-over-year basis. As a group, equities analysts anticipate that Amgen, Inc. will post 13.85 EPS for the current fiscal year.

Several analysts have recently issued reports on AMGN shares. Cantor Fitzgerald reissued a “hold” rating and set a $41.00 price target on shares of Mylan in a research report on Monday, April 1st. Citigroup raised shares of Gilead Sciences from a “neutral” rating to a “buy” rating and set a $66.80 price target on the stock in a research report on Wednesday, May 22nd. Cowen reissued a “hold” rating and set a $103.00 price target on shares of United Therapeutics in a research report on Wednesday, May 1st. Oppenheimer set a $210.00 price target on shares of Amgen and gave the stock a “buy” rating in a research report on Friday, May 24th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating on shares of Anglo American in a research report on Wednesday, May 15th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and eleven have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $208.10.

In other Amgen news, Director Ronald D. Sugar sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $175.68, for a total transaction of $351,360.00. Following the sale, the director now owns 16,219 shares of the company’s stock, valued at $2,849,353.92. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last three months, insiders have sold 6,000 shares of company stock worth $1,077,980. 0.25% of the stock is owned by corporate insiders.

Amgen Profile

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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Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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