Intermede Investment Partners Ltd Cuts Position in Amgen Inc. (AMGN)
Intermede Investment Partners Ltd cut its position in shares of Amgen Inc. (NASDAQ:AMGN) by 26.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 147,059 shares of the medical research company’s stock after selling 52,726 shares during the period. Amgen accounts for approximately 2.6% of Intermede Investment Partners Ltd’s portfolio, making the stock its 19th largest position. Intermede Investment Partners Ltd’s holdings in Amgen were worth $22,375,000 as of its most recent filing with the SEC.
Several other institutional investors have also modified their holdings of AMGN. First Midwest Bank Trust Division raised its position in Amgen by 7.8% in the second quarter. First Midwest Bank Trust Division now owns 20,689 shares of the medical research company’s stock worth $3,148,000 after buying an additional 1,496 shares during the last quarter. Calamos Wealth Management LLC purchased a new position in Amgen during the second quarter worth about $202,000. Palouse Capital Management Inc. purchased a new position in Amgen during the second quarter worth about $5,220,000. American Century Companies Inc. raised its position in Amgen by 11.0% in the second quarter. American Century Companies Inc. now owns 2,354,433 shares of the medical research company’s stock worth $358,227,000 after buying an additional 233,315 shares during the last quarter. Finally, Aviance Capital Management LLC raised its position in Amgen by 11.1% in the second quarter. Aviance Capital Management LLC now owns 8,581 shares of the medical research company’s stock worth $1,306,000 after buying an additional 858 shares during the last quarter. 79.15% of the stock is currently owned by institutional investors and hedge funds.
Amgen Inc. (NASDAQ:AMGN) traded up 0.36% during trading on Friday, reaching $167.50. 1,679,823 shares of the company traded hands. The company’s 50-day moving average is $170.75 and its 200 day moving average is $161.82. The company has a market cap of $125.35 billion, a PE ratio of 17.14 and a beta of 0.94. Amgen Inc. has a 12 month low of $139.02 and a 12 month high of $176.85.
Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Wednesday, July 27th. The medical research company reported $2.84 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.74 by $0.10. Amgen had a net margin of 33.07% and a return on equity of 29.30%. The company had revenue of $5.69 billion for the quarter, compared to the consensus estimate of $5.58 billion. During the same period last year, the company earned $2.57 earnings per share. The firm’s revenue was up 5.9% compared to the same quarter last year. On average, analysts anticipate that Amgen Inc. will post $11.35 earnings per share for the current year.
A number of brokerages have recently weighed in on AMGN. BMO Capital Markets reaffirmed an “outperform” rating and issued a $190.00 price target on shares of Amgen in a research note on Thursday, September 22nd. Jefferies Group reaffirmed a “buy” rating and issued a $198.00 price target on shares of Amgen in a research note on Tuesday, August 23rd. Vetr raised shares of Amgen from a “sell” rating to a “hold” rating and set a $171.34 price target for the company in a research note on Wednesday, August 3rd. Leerink Swann reaffirmed a “hold” rating on shares of Amgen in a research note on Saturday, September 17th. Finally, Credit Suisse Group AG set a $206.00 price target on shares of Amgen and gave the stock a “buy” rating in a research note on Saturday, September 17th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have given a buy rating to the company’s stock. Amgen currently has a consensus rating of “Buy” and a consensus target price of $184.94.
In other news, VP Annette Louise Such sold 3,000 shares of Amgen stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $174.59, for a total value of $523,770.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.20% of the stock is currently owned by insiders.
Amgen Company Profile
Amgen Inc is a biotechnology company. The Company discovers, develops, manufactures and delivers various human therapeutics. The Company’s business segment is human therapeutics. Its marketed products portfolio includes Neulasta (pegfilgrastim); erythropoiesis-stimulating agents (ESAs), such as Aranesp (darbepoetin alfa) and EPOGEN (epoetin alfa); Sensipar/Mimpara (cinacalcet); XGEVA (denosumab); Prolia (denosumab); NEUPOGEN (filgrastim), and other marketed products, such as Vectibix (panitumumab), Nplate (romiplostim) and Corlanor (ivabradine).
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