Panagora Asset Management Inc. Boosts Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

Panagora Asset Management Inc. grew its holdings in Amgen Inc. (NASDAQ:AMGN) by 82.7% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 261,890 shares of the medical research company’s stock after purchasing an additional 118,578 shares during the quarter. Panagora Asset Management Inc.’s holdings in Amgen were worth $65,161,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Wilkinson Global Asset Management LLC bought a new stake in Amgen during the 1st quarter valued at $61,201,000. Everence Capital Management Inc. bought a new stake in Amgen during the first quarter valued at about $3,453,000. Great Lakes Advisors LLC grew its stake in Amgen by 4.3% in the fourth quarter. Great Lakes Advisors LLC now owns 17,162 shares of the medical research company’s stock valued at $3,946,000 after purchasing an additional 708 shares during the last quarter. Hamel Associates Inc. raised its holdings in Amgen by 5.7% in the first quarter. Hamel Associates Inc. now owns 10,335 shares of the medical research company’s stock worth $2,571,000 after purchasing an additional 560 shares in the last quarter. Finally, YorkBridge Wealth Partners LLC raised its holdings in Amgen by 14.2% in the first quarter. YorkBridge Wealth Partners LLC now owns 6,747 shares of the medical research company’s stock worth $1,679,000 after purchasing an additional 840 shares in the last quarter. 75.31% of the stock is owned by hedge funds and other institutional investors.

AMGN stock traded down $1.15 during mid-day trading on Friday, reaching $243.49. The company’s stock had a trading volume of 14,319 shares, compared to its average volume of 2,708,896. The company’s 50 day moving average price is $247.24. The stock has a market cap of $139.90 billion, a PE ratio of 20.27, a PEG ratio of 1.73 and a beta of 0.72. The company has a debt-to-equity ratio of 3.34, a quick ratio of 1.34 and a current ratio of 1.66. Amgen Inc. has a fifty-two week low of $210.28 and a fifty-two week high of $276.69.

Amgen (NASDAQ:AMGN) last posted its earnings results on Monday, April 26th. The medical research company reported $3.70 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $4.05 by ($0.35). Amgen had a net margin of 28.16% and a return on equity of 93.84%. The company had revenue of $5.90 billion during the quarter, compared to analyst estimates of $6.30 billion. During the same quarter last year, the business posted $4.17 EPS. The firm’s revenue for the quarter was down 4.2% on a year-over-year basis. On average, research analysts forecast that Amgen Inc. will post 16.35 earnings per share for the current year.

In related news, SVP Nancy A. Grygiel sold 2,500 shares of Amgen stock in a transaction that occurred on Tuesday, May 11th. The shares were sold at an average price of $252.51, for a total value of $631,275.00. Following the completion of the sale, the senior vice president now owns 14,961 shares in the company, valued at approximately $3,777,802.11. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director R Sanders Williams sold 250 shares of Amgen stock in a transaction that occurred on Friday, May 7th. The shares were sold at an average price of $251.78, for a total transaction of $62,945.00. Following the completion of the sale, the director now owns 4,409 shares of the company’s stock, valued at approximately $1,110,098.02. The disclosure for this sale can be found here. Insiders sold a total of 4,750 shares of company stock valued at $1,194,790 in the last quarter. 0.36% of the stock is owned by insiders.

Several research analysts recently commented on the stock. Royal Bank of Canada reduced their price objective on shares of Amgen from $220.00 to $217.00 and set a “sector perform” rating for the company in a research note on Wednesday, April 28th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $290.00 price target on shares of Amgen in a research report on Wednesday, April 28th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $215.00 price objective on shares of Amgen in a research report on Wednesday, April 28th. Evercore ISI reaffirmed a “buy” rating on shares of Amgen in a research report on Thursday, April 29th. Finally, Barclays lowered their price target on Amgen from $242.00 to $230.00 and set an “equal weight” rating for the company in a report on Friday, March 5th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. Amgen currently has a consensus rating of “Hold” and a consensus target price of $256.81.

Amgen Profile

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It focuses on inflammation, oncology/hematology, bone health, cardiovascular disease, nephrology and neuroscience areas. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta that reduces the chance of infection due a low white blood cell count in patients cancer; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Aranesp to treat a lower-than-normal number of red blood cells and anemia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; and Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization.

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Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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