BlueMountain Capital Management LLC Raises Holdings in Amgen, Inc. (AMGN)
BlueMountain Capital Management LLC boosted its position in shares of Amgen, Inc. (NASDAQ:AMGN) by 181.8% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 40,355 shares of the medical research company’s stock after acquiring an additional 26,034 shares during the quarter. BlueMountain Capital Management LLC’s holdings in Amgen were worth $6,950,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently modified their holdings of AMGN. BlackRock Inc. lifted its position in Amgen by 1.9% during the 2nd quarter. BlackRock Inc. now owns 49,451,203 shares of the medical research company’s stock worth $8,516,980,000 after acquiring an additional 909,689 shares during the period. Ameriprise Financial Inc. raised its stake in shares of Amgen by 45.9% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,158,831 shares of the medical research company’s stock valued at $373,096,000 after buying an additional 679,144 shares during the last quarter. Canada Pension Plan Investment Board raised its stake in shares of Amgen by 65.7% during the 2nd quarter. Canada Pension Plan Investment Board now owns 1,706,261 shares of the medical research company’s stock valued at $293,869,000 after buying an additional 676,300 shares during the last quarter. Skandinaviska Enskilda Banken AB publ purchased a new position in shares of Amgen during the 1st quarter valued at about $110,402,000. Finally, Bank of Nova Scotia raised its stake in shares of Amgen by 414.4% during the 1st quarter. Bank of Nova Scotia now owns 601,862 shares of the medical research company’s stock valued at $98,747,000 after buying an additional 484,868 shares during the last quarter. 78.38% of the stock is owned by institutional investors.
A number of research firms have weighed in on AMGN. BidaskClub upgraded Amgen from a “strong sell” rating to a “sell” rating in a research note on Saturday, December 2nd. Oppenheimer reiterated a “buy” rating and set a $205.00 price objective on shares of Amgen in a research note on Thursday, November 30th. Cann reiterated a “buy” rating and set a $205.00 price objective on shares of Amgen in a research note on Thursday, November 30th. Argus lowered Amgen from a “buy” rating to a “hold” rating and lifted their price objective for the company from $175.22 to $195.00 in a research note on Wednesday, November 1st. Finally, Zacks Investment Research lowered Amgen from a “buy” rating to a “hold” rating in a research note on Monday, October 30th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. Amgen has a consensus rating of “Hold” and an average target price of $190.22.
In other news, Director Carbonnel Francois De sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $173.61, for a total transaction of $694,440.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Sean E. Harper sold 1,525 shares of the business’s stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $171.58, for a total value of $261,659.50. Following the transaction, the executive vice president now owns 57,631 shares in the company, valued at $9,888,326.98. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,050 shares of company stock valued at $1,239,673. 0.19% of the stock is owned by company insiders.
Shares of Amgen, Inc. (NASDAQ:AMGN) opened at $176.22 on Thursday. Amgen, Inc. has a 52 week low of $138.83 and a 52 week high of $191.10. The company has a current ratio of 6.07, a quick ratio of 5.72 and a debt-to-equity ratio of 1.05. The company has a market capitalization of $129,712.96, a P/E ratio of 14.20, a price-to-earnings-growth ratio of 2.59 and a beta of 1.36.
Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Wednesday, October 25th. The medical research company reported $3.27 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.11 by $0.16. Amgen had a return on equity of 29.90% and a net margin of 35.54%. The company had revenue of $5.77 billion during the quarter, compared to analyst estimates of $5.75 billion. During the same period in the previous year, the business earned $3.02 EPS. Amgen’s quarterly revenue was down .7% on a year-over-year basis. equities analysts anticipate that Amgen, Inc. will post 12.66 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Friday, November 17th will be paid a dividend of $1.15 per share. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $4.60 annualized dividend and a yield of 2.61%. Amgen’s dividend payout ratio (DPR) is currently 41.63%.
Amgen declared that its Board of Directors has authorized a stock buyback program on Wednesday, October 25th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the medical research company to purchase shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.
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Amgen Company Profile
Amgen Inc is a biotechnology company. The Company discovers, develops, manufactures and delivers various human therapeutics. It operates in human therapeutics segment. 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 KYPROLIS (carfilzomib), Vectibix (panitumumab), Nplate (romiplostim), Repatha (evolocumab), BLINCYTO (blinatumomab), IMLYGIC (talimogene laherparepvec) and Corlanor (ivabradine).
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