New England Research & Management Inc. Grows Position in Amgen Inc. (NASDAQ:AMGN)

New England Research & Management Inc. lifted its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 54.4% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 8,953 shares of the medical research company’s stock after acquiring an additional 3,153 shares during the period. Amgen makes up 1.2% of New England Research & Management Inc.’s holdings, making the stock its 19th biggest holding. New England Research & Management Inc.’s holdings in Amgen were worth $2,546,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of AMGN. Operose Advisors LLC raised its holdings in shares of Amgen by 92.5% during the 3rd quarter. Operose Advisors LLC now owns 154 shares of the medical research company’s stock valued at $41,000 after buying an additional 74 shares during the period. Bank of Nova Scotia raised its holdings in shares of Amgen by 11.4% during the 3rd quarter. Bank of Nova Scotia now owns 54,628 shares of the medical research company’s stock valued at $14,682,000 after buying an additional 5,609 shares during the period. CWA Asset Management Group LLC raised its holdings in shares of Amgen by 26.9% during the 3rd quarter. CWA Asset Management Group LLC now owns 2,334 shares of the medical research company’s stock valued at $627,000 after buying an additional 495 shares during the period. Teza Capital Management LLC raised its holdings in shares of Amgen by 448.3% during the 3rd quarter. Teza Capital Management LLC now owns 5,340 shares of the medical research company’s stock valued at $1,435,000 after buying an additional 4,366 shares during the period. Finally, Boone Capital Management LLC raised its holdings in shares of Amgen by 17.5% during the 3rd quarter. Boone Capital Management LLC now owns 98,126 shares of the medical research company’s stock valued at $26,372,000 after buying an additional 14,627 shares during the period. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, SVP Nancy A. Grygiel sold 2,117 shares of the company’s stock in a transaction on 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 $3,094,268.47. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.69% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

AMGN has been the topic of several analyst reports. Morgan Stanley raised their target price on Amgen from $271.00 to $310.00 and gave the company an “equal weight” rating in a report on Friday, May 3rd. Raymond James assumed coverage on Amgen in a research report on Thursday, March 28th. They issued a “market perform” rating for the company. Mizuho lifted their target price on Amgen from $223.00 to $235.00 and gave the stock a “neutral” rating in a research report on Thursday, May 9th. TD Cowen reduced their price objective on Amgen from $370.00 to $360.00 and set a “buy” rating for the company in a research report on Wednesday, April 17th. Finally, Barclays upgraded Amgen from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $230.00 to $300.00 in a research report on Friday, May 3rd. Ten equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $307.35.

Amgen Trading Down 0.4 %

Shares of AMGN stock opened at $312.45 on Friday. Amgen Inc. has a 1 year low of $218.44 and a 1 year high of $329.72. 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 stock has a fifty day moving average of $301.56 and a two-hundred day moving average of $292.10. The firm has a market capitalization of $167.61 billion, a PE ratio of 44.64, a price-to-earnings-growth ratio of 2.83 and a beta of 0.60.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Thursday, May 2nd. The medical research company reported $3.96 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 company had revenue of $7.45 billion for the quarter, compared to the consensus estimate of $7.45 billion. During the same quarter in the previous year, the business earned $3.98 EPS. The company’s quarterly revenue was up 22.0% compared to the same quarter last year. As a group, research analysts expect that Amgen Inc. will post 19.47 EPS for the current year.

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.