Xponance Inc. Increases Stock Position in Amgen Inc. (NASDAQ:AMGN)

by · The Cerbat Gem

Xponance Inc. increased its position in shares of Amgen Inc. (NASDAQ:AMGN – Free Report) by 1.3% during the 1st quarter, Holdings Channel reports. The firm owned 117,926 shares of the medical research company’s stock after purchasing an additional 1,564 shares during the quarter. Xponance Inc.’s holdings in Amgen were worth $36,740,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Amgen by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 52,721,795 shares of the medical research company’s stock valued at $13,741,409,000 after purchasing an additional 339,522 shares during the last quarter. Geode Capital Management LLC raised its position in Amgen by 2.9% in the fourth quarter. Geode Capital Management LLC now owns 12,475,032 shares of the medical research company’s stock worth $3,245,881,000 after acquiring an additional 352,143 shares during the period. Capital International Investors boosted its stake in Amgen by 40.1% in the fourth quarter. Capital International Investors now owns 12,212,065 shares of the medical research company’s stock valued at $3,182,843,000 after acquiring an additional 3,495,503 shares during the last quarter. Capital World Investors raised its holdings in shares of Amgen by 1,292.0% in the 4th quarter. Capital World Investors now owns 6,495,710 shares of the medical research company’s stock worth $1,693,042,000 after purchasing an additional 6,029,058 shares during the period. Finally, Northern Trust Corp grew its holdings in Amgen by 15.8% during the fourth quarter. Northern Trust Corp now owns 6,431,029 shares of the medical research company’s stock valued at $1,676,183,000 after purchasing an additional 875,254 shares during the period. 76.50% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Wall Street Zen upgraded Amgen from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 18th. William Blair reaffirmed an “outperform” rating on shares of Amgen in a report on Tuesday, June 24th. Guggenheim assumed coverage on shares of Amgen in a report on Tuesday, May 20th. They set a “neutral” rating and a $288.00 target price on the stock. Mizuho lifted their price target on Amgen from $235.00 to $280.00 and gave the company a “neutral” rating in a research report on Wednesday, May 7th. Finally, Erste Group Bank cut Amgen from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 8th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Amgen has a consensus rating of “Hold” and a consensus target price of $307.82.

Get Our Latest Report on Amgen

Insider Buying and Selling at Amgen

In related news, SVP Rachna Khosla sold 1,500 shares of the firm’s stock in a transaction that occurred 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 transaction, the senior vice president directly owned 8,162 shares in the company, valued at $2,364,368.16. This trade represents a 15.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.76% of the company’s stock.

Amgen Stock Up 1.3%

Shares of NASDAQ AMGN opened at $300.37 on Friday. The stock has a market capitalization of $161.51 billion, a P/E ratio of 27.41, a PEG ratio of 2.68 and a beta of 0.49. Amgen Inc. has a one year low of $253.30 and a one year high of $346.85. The firm’s 50 day simple moving average is $283.28 and its two-hundred day simple moving average is $287.76. 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 earnings results on Thursday, May 1st. The medical research company reported $4.90 EPS for the quarter, topping analysts’ consensus estimates of $4.18 by $0.72. The company had revenue of $8.15 billion for the quarter, compared to analysts’ expectations of $8.05 billion. Amgen had a net margin of 17.39% and a return on equity of 176.11%. The firm’s revenue was up 9.4% compared to the same quarter last year. During the same quarter last year, the company earned $3.96 EPS. As a group, analysts expect that Amgen Inc. will post 20.62 EPS for the current fiscal year.

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.

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