New England Research & Management Inc. Raises Stake in Amgen Inc. (NASDAQ:AMGN)

New England Research & Management Inc. grew its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 54.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,953 shares of the medical research company’s stock after purchasing an additional 3,153 shares during the quarter. Amgen makes up approximately 1.2% of New England Research & Management Inc.’s investment portfolio, making the stock its 19th largest position. New England Research & Management Inc.’s holdings in Amgen were worth $2,546,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in AMGN. Operose Advisors LLC lifted its stake in Amgen by 92.5% in the third quarter. Operose Advisors LLC now owns 154 shares of the medical research company’s stock worth $41,000 after acquiring an additional 74 shares during the period. Bank of Nova Scotia lifted its stake in Amgen by 11.4% in the third quarter. Bank of Nova Scotia now owns 54,628 shares of the medical research company’s stock worth $14,682,000 after acquiring an additional 5,609 shares during the period. CWA Asset Management Group LLC lifted its stake in Amgen by 26.9% in the third quarter. CWA Asset Management Group LLC now owns 2,334 shares of the medical research company’s stock worth $627,000 after acquiring an additional 495 shares during the period. Teza Capital Management LLC lifted its stake in Amgen by 448.3% in the third quarter. Teza Capital Management LLC now owns 5,340 shares of the medical research company’s stock worth $1,435,000 after acquiring an additional 4,366 shares during the period. Finally, Boone Capital Management LLC raised its holdings in Amgen by 17.5% in the third quarter. Boone Capital Management LLC now owns 98,126 shares of the medical research company’s stock worth $26,372,000 after purchasing an additional 14,627 shares in the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.

Amgen Trading Down 0.4 %

Shares of AMGN stock opened at $312.45 on Friday. The stock’s fifty day moving average is $301.56 and its two-hundred day moving average is $292.10. The company has a debt-to-equity ratio of 11.96, a quick ratio of 0.98 and a current ratio of 1.42. The firm has a market capitalization of $167.61 billion, a P/E ratio of 44.64, a PEG ratio of 2.83 and a beta of 0.60. Amgen Inc. has a fifty-two week low of $218.44 and a fifty-two week high of $329.72.

Amgen (NASDAQ:AMGN) last issued its earnings results on Thursday, May 2nd. The medical research company reported $3.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.76 by $0.20. Amgen had a return on equity of 156.21% and a net margin of 12.74%. The business had revenue of $7.45 billion during the quarter, compared to the consensus estimate of $7.45 billion. During the same period last year, the company earned $3.98 EPS. The company’s revenue for the quarter was up 22.0% on a year-over-year basis. Research analysts expect that Amgen Inc. will post 19.47 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have commented on AMGN. Mizuho boosted their target price on shares of Amgen from $223.00 to $235.00 and gave the stock a “neutral” rating in a report on Thursday, May 9th. BMO Capital Markets boosted their target price on shares of Amgen from $336.00 to $355.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. Royal Bank of Canada upped their price objective on shares of Amgen from $328.00 to $332.00 and gave the company an “outperform” rating in a report on Friday, June 14th. Raymond James started coverage on shares of Amgen in a report on Thursday, March 28th. They set a “market perform” rating on the stock. Finally, Barclays upgraded shares of Amgen from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $230.00 to $300.00 in a report on Friday, May 3rd. Ten analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $307.35.

Insiders Place Their Bets

In related news, SVP Nancy A. Grygiel sold 2,117 shares of the firm’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $313.09, for a total transaction of $662,811.53. Following the completion of the sale, the senior vice president now directly owns 9,883 shares of the company’s stock, valued at approximately $3,094,268.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.69% of the company’s stock.

Amgen Company Profile

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.