Renaissance Investment Group LLC grew its holdings in Amgen, Inc. (NASDAQ:AMGN) by 48.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,260 shares of the medical research company’s stock after purchasing an additional 742 shares during the period. Renaissance Investment Group LLC’s holdings in Amgen were worth $438,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also added to or reduced their stakes in the business. Commerzbank Aktiengesellschaft FI increased its stake in shares of Amgen by 7.4% during the third quarter. Commerzbank Aktiengesellschaft FI now owns 114,519 shares of the medical research company’s stock valued at $22,161,000 after buying an additional 7,885 shares during the period. Meeder Asset Management Inc. increased its stake in shares of Amgen by 1.8% during the third quarter. Meeder Asset Management Inc. now owns 52,183 shares of the medical research company’s stock valued at $10,097,000 after buying an additional 904 shares during the period. WESPAC Advisors SoCal LLC increased its stake in shares of Amgen by 0.6% during the third quarter. WESPAC Advisors SoCal LLC now owns 26,426 shares of the medical research company’s stock valued at $5,114,000 after buying an additional 157 shares during the period. Tradewinds Capital Management LLC increased its stake in shares of Amgen by 1.0% during the third quarter. Tradewinds Capital Management LLC now owns 6,131 shares of the medical research company’s stock valued at $1,186,000 after buying an additional 63 shares during the period. Finally, Stewart & Patten Co. LLC increased its stake in shares of Amgen by 51.0% during the third quarter. Stewart & Patten Co. LLC now owns 13,412 shares of the medical research company’s stock valued at $2,595,000 after buying an additional 4,531 shares during the period. Institutional investors and hedge funds own 76.32% of the company’s stock.
AMGN stock traded up $0.37 during trading on Thursday, reaching $203.58. 634,777 shares of the company traded hands, compared to its average volume of 2,238,617. Amgen, Inc. has a 12 month low of $166.30 and a 12 month high of $211.90. The business has a 50 day simple moving average of $199.63 and a 200 day simple moving average of $186.67. The company has a market capitalization of $121.67 billion, a price-to-earnings ratio of 14.14, a price-to-earnings-growth ratio of 2.64 and a beta of 1.11. The company has a debt-to-equity ratio of 2.58, a quick ratio of 2.60 and a current ratio of 2.89.
Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Tuesday, July 30th. The medical research company reported $3.97 earnings per share for the quarter, beating analysts’ consensus estimates of $3.58 by $0.39. Amgen had a return on equity of 76.17% and a net margin of 33.78%. The company had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $5.67 billion. During the same quarter last year, the company earned $3.83 earnings per share. The firm’s revenue for the quarter was down 3.1% compared to the same quarter last year. As a group, research analysts forecast that Amgen, Inc. will post 14.33 EPS for the current year.
AMGN has been the topic of several research reports. Citigroup restated a “buy” rating on shares of Amgen in a research note on Monday, August 12th. BidaskClub upgraded Amgen from a “hold” rating to a “buy” rating in a research note on Wednesday. Evercore ISI restated a “hold” rating on shares of Amgen in a research note on Sunday, August 11th. Royal Bank of Canada restated a “hold” rating on shares of Amgen in a research note on Monday, September 30th. Finally, Oppenheimer set a $240.00 price target on Amgen and gave the company a “buy” rating in a research note on Monday, September 9th. Eleven research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The company has an average rating of “Buy” and an average target price of $217.28.
In related news, Director R Sanders Williams sold 425 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $183.04, for a total transaction of $77,792.00. Following the sale, the director now owns 16,336 shares of the company’s stock, valued at $2,990,141.44. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Cynthia M. Patton sold 13,426 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $208.07, for a total value of $2,793,547.82. Following the sale, the senior vice president now directly owns 32,648 shares in the company, valued at approximately $6,793,069.36. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 17,851 shares of company stock worth $3,671,900. 0.25% of the stock is owned by corporate insiders.
Amgen Company 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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