Mediolanum International Funds Ltd Takes Position in Amgen Inc. (NASDAQ:AMGN)

Mediolanum International Funds Ltd bought a new stake in shares of Amgen Inc. (NASDAQ:AMGN) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 22,823 shares of the medical research company’s stock, valued at approximately $6,534,000.

A number of other institutional investors have also recently modified their holdings of AMGN. Integrated Advisors Network LLC grew its position in shares of Amgen by 2.6% during the 3rd quarter. Integrated Advisors Network LLC now owns 13,713 shares of the medical research company’s stock valued at $3,685,000 after acquiring an additional 352 shares during the period. Spartan Planning & Wealth Management acquired a new stake in Amgen in the 3rd quarter worth about $342,000. Diversified Trust Co boosted its holdings in Amgen by 2.1% in the 3rd quarter. Diversified Trust Co now owns 21,319 shares of the medical research company’s stock worth $5,730,000 after buying an additional 440 shares during the last quarter. Tompkins Financial Corp boosted its holdings in Amgen by 10.5% in the 3rd quarter. Tompkins Financial Corp now owns 30,311 shares of the medical research company’s stock worth $8,146,000 after buying an additional 2,889 shares during the last quarter. Finally, Comerica Bank boosted its holdings in Amgen by 410.3% in the 3rd quarter. Comerica Bank now owns 253,228 shares of the medical research company’s stock worth $68,058,000 after buying an additional 203,602 shares during the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Barclays upgraded Amgen from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $230.00 to $300.00 in a report on Friday, May 3rd. UBS Group lifted their price objective on Amgen from $284.00 to $307.00 and gave the stock a “neutral” rating in a report on Friday, May 3rd. William Blair raised shares of Amgen from a “market perform” rating to an “outperform” rating in a research note on Friday, May 3rd. Raymond James assumed coverage on shares of Amgen in a research note on Thursday, March 28th. They issued a “market perform” rating on the stock. Finally, TD Cowen decreased their target price on shares of Amgen from $370.00 to $360.00 and set a “buy” rating on the stock in a research note on Wednesday, April 17th. Ten investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $307.35.

Amgen Trading Up 1.8 %

Shares of AMGN stock traded up $5.76 during trading on Wednesday, hitting $321.67. 2,192,068 shares of the stock traded hands, compared to its average volume of 2,724,577. The firm has a market capitalization of $172.55 billion, a P/E ratio of 45.65, a price-to-earnings-growth ratio of 2.81 and a beta of 0.58. 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 Inc. has a 52-week low of $222.27 and a 52-week high of $329.72. The firm’s fifty day moving average price is $306.97 and its 200-day moving average price is $293.95.

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

Insider Buying and Selling at Amgen

In other Amgen news, SVP Nancy A. Grygiel sold 2,117 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $313.09, for a total value of $662,811.53. Following the sale, the senior vice president now owns 9,883 shares of the company’s stock, valued at $3,094,268.47. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.69% of the stock is owned by corporate insiders.

About Amgen

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.