West Coast Financial LLC bought a new stake in Amgen, Inc. (NASDAQ:AMGN) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 1,502 shares of the medical research company’s stock, valued at approximately $291,000.
Several other institutional investors have also made changes to their positions in the company. Mission Wealth Management LP grew its position in Amgen by 2.0% in the 3rd quarter. Mission Wealth Management LP now owns 6,681 shares of the medical research company’s stock valued at $1,293,000 after buying an additional 128 shares during the last quarter. Schwab Charitable Fund grew its position in Amgen by 8.6% in the 3rd quarter. Schwab Charitable Fund now owns 1,195 shares of the medical research company’s stock valued at $231,000 after buying an additional 95 shares during the last quarter. Palisade Asset Management LLC grew its position in Amgen by 0.8% in the 3rd quarter. Palisade Asset Management LLC now owns 69,493 shares of the medical research company’s stock valued at $13,448,000 after buying an additional 546 shares during the last quarter. Advisor Partners LLC grew its position in Amgen by 11.8% in the 3rd quarter. Advisor Partners LLC now owns 19,134 shares of the medical research company’s stock valued at $3,703,000 after buying an additional 2,024 shares during the last quarter. Finally, Strategic Blueprint LLC purchased a new position in Amgen in the 3rd quarter valued at $45,000. 76.32% of the stock is currently owned by institutional investors and hedge funds.
In related news, SVP Cynthia M. Patton sold 13,426 shares of the business’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 completion of the transaction, the senior vice president now owns 32,648 shares of the company’s stock, valued at approximately $6,793,069.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ronald D. Sugar sold 2,000 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $193.58, for a total transaction of $387,160.00. Following the completion of the transaction, the director now directly owns 16,436 shares of the company’s stock, valued at approximately $3,181,680.88. The disclosure for this sale can be found here. Insiders have sold a total of 17,851 shares of company stock valued at $3,671,900 in the last ninety days. Corporate insiders own 0.25% of the company’s stock.
A number of equities analysts recently weighed in on the stock. Wells Fargo & Co reiterated a “market perform” rating and issued a $220.00 price objective (up from $202.00) on shares of Amgen in a research report on Tuesday, August 27th. They noted that the move was a valuation call. BidaskClub upgraded shares of Amgen from a “hold” rating to a “buy” rating in a research report on Wednesday. BMO Capital Markets set a $240.00 target price on shares of Amgen and gave the stock a “buy” rating in a research report on Monday, September 30th. Sanford C. Bernstein assumed coverage on shares of Amgen in a research report on Monday. They set an “outperform” rating on the stock. Finally, Royal Bank of Canada restated a “hold” rating on shares of Amgen in a research report on Monday, September 30th. Eleven analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Amgen presently has an average rating of “Buy” and an average price target of $217.28.
Shares of NASDAQ:AMGN traded up $0.37 during midday trading on Thursday, hitting $203.58. 634,777 shares of the stock were exchanged, compared to its average volume of 2,238,617. The stock has a market cap of $121.67 billion, a P/E ratio of 14.14, a PEG ratio of 2.64 and a beta of 1.11. The company has a current ratio of 2.89, a quick ratio of 2.60 and a debt-to-equity ratio of 2.58. Amgen, Inc. has a twelve month low of $166.30 and a twelve month high of $211.90. The company has a 50 day moving average price of $199.63 and a 200-day moving average price of $186.67.
Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Tuesday, July 30th. The medical research company reported $3.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.58 by $0.39. The business had revenue of $5.87 billion during the quarter, compared to the consensus estimate of $5.67 billion. Amgen had a return on equity of 76.17% and a net margin of 33.78%. The business’s revenue was down 3.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.83 EPS. On average, equities research analysts expect that Amgen, Inc. will post 14.33 earnings per share for the current year.
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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