Corundum Group Inc. Sells 144 Shares of Amgen Inc. (NASDAQ:AMGN)

Corundum Group Inc. decreased its stake in Amgen Inc. (NASDAQ:AMGN) by 6.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,947 shares of the medical research company’s stock after selling 144 shares during the period. Corundum Group Inc.’s holdings in Amgen were worth $554,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AMGN. Operose Advisors LLC lifted its stake 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 in the last quarter. Milestone Asset Management LLC boosted its holdings in shares of Amgen by 6.2% in the third quarter. Milestone Asset Management LLC now owns 1,123 shares of the medical research company’s stock worth $299,000 after acquiring an additional 66 shares during the period. Mather Group LLC. raised its stake in shares of Amgen by 6.2% during the 3rd quarter. Mather Group LLC. now owns 11,116 shares of the medical research company’s stock valued at $2,987,000 after purchasing an additional 652 shares during the period. Treasurer of the State of North Carolina boosted its stake in Amgen by 1.3% in the 3rd quarter. Treasurer of the State of North Carolina now owns 256,786 shares of the medical research company’s stock worth $69,014,000 after purchasing an additional 3,188 shares during the period. Finally, Trustmark National Bank Trust Department grew its stake in Amgen by 4.5% during the third quarter. Trustmark National Bank Trust Department now owns 29,507 shares of the medical research company’s stock valued at $7,930,000 after acquiring an additional 1,279 shares in the last quarter. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on the company. Royal Bank of Canada upped their target price on Amgen from $328.00 to $332.00 and gave the stock an “outperform” rating in a research note on Friday, June 14th. William Blair raised shares of Amgen from a “market perform” rating to an “outperform” rating in a report on Friday, May 3rd. Mizuho boosted their price target on shares of Amgen from $223.00 to $235.00 and gave the stock a “neutral” rating in a research note on Thursday, May 9th. StockNews.com upgraded Amgen from a “hold” rating to a “buy” rating in a report on Friday, May 3rd. Finally, Raymond James started coverage on Amgen in a report on Thursday, March 28th. They set a “market perform” rating for the company. Ten equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, Amgen currently has a consensus rating of “Moderate Buy” and a consensus target price of $305.85.

Amgen Stock Up 0.6 %

Amgen stock traded up $1.99 during mid-day trading on Thursday, reaching $314.81. The stock had a trading volume of 231,686 shares, compared to its average volume of 2,769,564. Amgen Inc. has a one year low of $218.44 and a one year high of $329.72. The company has a 50-day moving average price of $298.70 and a two-hundred day moving average price of $291.52. The company has a market capitalization of $168.87 billion, a price-to-earnings ratio of 44.69, a PEG ratio of 2.88 and a beta of 0.60. The company has a debt-to-equity ratio of 11.96, a current ratio of 1.42 and a quick ratio of 0.98.

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

Insider Transactions at Amgen

In related news, SVP Nancy A. Grygiel sold 2,117 shares of Amgen stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $313.09, for a total value of $662,811.53. Following the completion of the sale, the senior vice president now directly owns 9,883 shares in the company, valued at approximately $3,094,268.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company 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.