CAPROCK Group Inc. cut its stake in Amgen, Inc. (NASDAQ:AMGN) by 6.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,151 shares of the medical research company’s stock after selling 450 shares during the period. CAPROCK Group Inc.’s holdings in Amgen were worth $1,275,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds also recently bought and sold shares of the company. Beutel Goodman & Co Ltd. purchased a new position in Amgen in the second quarter worth approximately $86,723,000. Mutual Advisors LLC grew its position in Amgen by 5.8% in the second quarter. Mutual Advisors LLC now owns 4,814 shares of the medical research company’s stock worth $889,000 after acquiring an additional 265 shares during the period. Argent Trust Co grew its position in Amgen by 31.8% in the second quarter. Argent Trust Co now owns 11,691 shares of the medical research company’s stock worth $2,159,000 after acquiring an additional 2,818 shares during the period. Schwab Charles Investment Management Inc. lifted its stake in Amgen by 2.3% during the second quarter. Schwab Charles Investment Management Inc. now owns 3,207,242 shares of the medical research company’s stock worth $592,025,000 after purchasing an additional 72,205 shares in the last quarter. Finally, Perpetual Ltd lifted its stake in Amgen by 10.3% during the second quarter. Perpetual Ltd now owns 8,554 shares of the medical research company’s stock worth $1,582,000 after purchasing an additional 800 shares in the last quarter. Institutional investors and hedge funds own 82.48% of the company’s stock.
A number of research firms have commented on AMGN. Cann restated a “buy” rating and set a $224.00 price target on shares of Amgen in a research note on Monday, October 1st. Jefferies Financial Group restated a “buy” rating and set a $220.00 price target on shares of Amgen in a research note on Monday, October 1st. Oppenheimer restated a “buy” rating and set a $224.00 price target on shares of Amgen in a research note on Tuesday, October 2nd. Royal Bank of Canada set a $193.00 price target on Amgen and gave the stock a “neutral” rating in a research note on Friday, September 28th. Finally, Zacks Investment Research upgraded Amgen from a “hold” rating to a “buy” rating and set a $234.00 price target on the stock in a research note on Monday, October 1st. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eleven have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $204.90.
Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Thursday, July 26th. The medical research company reported $3.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.52 by $0.31. The business had revenue of $6.06 billion for the quarter, compared to analysts’ expectations of $5.73 billion. Amgen had a return on equity of 43.18% and a net margin of 10.19%. The company’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same period last year, the firm earned $3.27 earnings per share. As a group, analysts anticipate that Amgen, Inc. will post 13.96 earnings per share for the current year.
Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It offers products for the treatment of oncology/hematology, cardiovascular, inflammation, bone health, nephrology, and neuroscience. The company's products include Evenity to treat osteoporosis in postmenopausal women; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Repatha to treat coronary diseases; Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Parsabiv to treat secondary hyperparathyroidism (sHPT); and Aimovig for the prevention of migraine.
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