Exchange Capital Management Inc. Grows Stake in Amgen Inc. (AMGN)
Exchange Capital Management Inc. grew its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 0.7% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 24,035 shares of the medical research company’s stock after purchasing an additional 158 shares during the quarter. Amgen makes up approximately 1.4% of Exchange Capital Management Inc.’s holdings, making the stock its 25th biggest position. Exchange Capital Management Inc.’s holdings in Amgen were worth $4,140,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. TrimTabs Asset Management LLC increased its position in shares of Amgen by 88.9% during the 1st quarter. TrimTabs Asset Management LLC now owns 612 shares of the medical research company’s stock valued at $100,000 after purchasing an additional 288 shares during the last quarter. Alpha Omega Wealth Management LLC increased its position in shares of Amgen by 19.0% during the 1st quarter. Alpha Omega Wealth Management LLC now owns 625 shares of the medical research company’s stock valued at $103,000 after purchasing an additional 100 shares during the last quarter. Jackson Grant Investment Advisers Inc. increased its position in shares of Amgen by 0.6% during the 1st quarter. Jackson Grant Investment Advisers Inc. now owns 636 shares of the medical research company’s stock valued at $104,000 after purchasing an additional 4 shares during the last quarter. American Beacon Advisors Inc. purchased a new stake in shares of Amgen during the 1st quarter valued at about $106,000. Finally, Nelson Roberts Investment Advisors LLC purchased a new stake in shares of Amgen during the 1st quarter valued at about $121,000. 78.10% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts have recently commented on the stock. BMO Capital Markets lowered shares of Amgen from an “outperform” rating to a “market perform” rating and set a $199.00 price target for the company. in a research report on Friday, July 21st. They noted that the move was a valuation call. Credit Suisse Group reissued a “neutral” rating and issued a $186.00 target price (up from $177.00) on shares of Amgen in a report on Friday, September 29th. Oppenheimer Holdings, Inc. reissued a “buy” rating and issued a $203.00 target price on shares of Amgen in a report on Thursday, September 7th. Leerink Swann reissued a “market perform” rating and issued a $161.00 target price on shares of Amgen in a report on Thursday, June 22nd. Finally, Morgan Stanley reissued an “overweight” rating and issued a $196.00 target price (up from $189.00) on shares of Amgen in a report on Friday. Ten analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company. Amgen presently has an average rating of “Buy” and an average price target of $189.99.
Shares of Amgen Inc. (NASDAQ AMGN) opened at 185.82 on Monday. The firm’s 50-day moving average is $181.33 and its 200-day moving average is $170.23. The stock has a market capitalization of $135.59 billion, a price-to-earnings ratio of 16.93 and a beta of 1.36. Amgen Inc. has a one year low of $133.64 and a one year high of $191.10.
Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Tuesday, July 25th. The medical research company reported $3.27 EPS for the quarter, beating the Zacks’ consensus estimate of $3.11 by $0.16. The business had revenue of $5.81 billion during the quarter, compared to analysts’ expectations of $5.67 billion. Amgen had a return on equity of 29.85% and a net margin of 35.46%. The business’s revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the business earned $2.84 earnings per share. Equities research analysts forecast that Amgen Inc. will post $12.58 EPS for the current year.
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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