Amgen Inc. (NASDAQ:AMGN) Shares Bought by Sage Mountain Advisors LLC

by · The Markets Daily

Sage Mountain Advisors LLC raised its stake in Amgen Inc. (NASDAQ:AMGN – Free Report) by 8.0% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,605 shares of the medical research company’s stock after acquiring an additional 343 shares during the quarter. Sage Mountain Advisors LLC’s holdings in Amgen were worth $1,435,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. KPP Advisory Services LLC grew its position in Amgen by 87.1% during the first quarter. KPP Advisory Services LLC now owns 5,833 shares of the medical research company’s stock valued at $1,817,000 after acquiring an additional 2,716 shares during the period. Advisor Resource Council purchased a new stake in Amgen during the first quarter valued at about $1,331,000. DLK Investment Management LLC grew its position in Amgen by 7.3% during the first quarter. DLK Investment Management LLC now owns 20,491 shares of the medical research company’s stock valued at $6,384,000 after acquiring an additional 1,387 shares during the period. Aire Advisors LLC grew its position in Amgen by 26.3% during the fourth quarter. Aire Advisors LLC now owns 13,280 shares of the medical research company’s stock valued at $3,461,000 after acquiring an additional 2,762 shares during the period. Finally, Mariner LLC grew its position in Amgen by 2.2% during the fourth quarter. Mariner LLC now owns 914,380 shares of the medical research company’s stock valued at $238,316,000 after acquiring an additional 19,250 shares during the period. 76.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Mizuho boosted their price objective on Amgen from $235.00 to $280.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 7th. UBS Group restated a “neutral” rating and set a $315.00 price objective (down previously from $319.00) on shares of Amgen in a research note on Friday, May 2nd. Wall Street Zen raised Amgen from a “buy” rating to a “strong-buy” rating in a report on Sunday, May 18th. Morgan Stanley restated an “equal weight” rating on shares of Amgen in a research note on Friday, May 2nd. Finally, Royal Bank Of Canada cut their price objective on Amgen from $324.00 to $320.00 and set an “outperform” rating on the stock in a research note on Friday, May 2nd. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $307.82.

Check Out Our Latest Report on Amgen

Amgen Stock Performance

Shares of AMGN stock opened at $297.03 on Tuesday. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $346.85. The firm has a market capitalization of $159.72 billion, a price-to-earnings ratio of 27.10, a price-to-earnings-growth ratio of 2.67 and a beta of 0.49. The business has a 50 day simple moving average of $283.90 and a 200 day simple moving average of $288.55. The company has a debt-to-equity ratio of 8.70, a current ratio of 1.17 and a quick ratio of 0.88.

Amgen (NASDAQ:AMGN – Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The medical research company reported $4.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.18 by $0.72. Amgen had a return on equity of 176.11% and a net margin of 17.39%. The business had revenue of $8.15 billion during the quarter, compared to analyst estimates of $8.05 billion. During the same period in the prior year, the company posted $3.96 EPS. The business’s revenue for the quarter was up 9.4% compared to the same quarter last year. On average, equities research analysts anticipate that Amgen Inc. will post 20.62 EPS for the current year.

Insider Transactions at Amgen

In other Amgen news, SVP Rachna Khosla sold 1,500 shares of the stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $289.68, for a total transaction of $434,520.00. Following the completion of the transaction, the senior vice president directly owned 8,162 shares of the company’s stock, valued at approximately $2,364,368.16. This trade represents a 15.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.69% of the company’s stock.

Amgen Company Profile

(Free Report)

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. The company's principal products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Prolia to treat postmenopausal women with osteoporosis; XGEVA for skeletal-related events prevention; Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization; Nplate for the treatment of patients with immune thrombocytopenia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; Aranesp to treat a lower-than-normal number of red blood cells and anemia; EVENITY for the treatment of osteoporosis in postmenopausal for men and women; Vectibix to treat patients with wild-type RAS metastatic colorectal cancer; BLINCYTO for the treatment of patients with acute lymphoblastic leukemia; TEPEZZA to treat thyroid eye disease; and KRYSTEXXA for the treatment of chronic refractory gout.

Further Reading

Want to see what other hedge funds are holding AMGN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Amgen Inc. (NASDAQ:AMGN – Free Report).