Intech Investment Management LLC Purchases 5,668 Shares of Amgen Inc. (NASDAQ:AMGN)

Intech Investment Management LLC lifted its position in Amgen Inc. (NASDAQ:AMGN) by 18.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 35,673 shares of the medical research company’s stock after purchasing an additional 5,668 shares during the quarter. Intech Investment Management LLC’s holdings in Amgen were worth $10,143,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in AMGN. Norges Bank bought a new stake in shares of Amgen in the 4th quarter worth about $1,556,912,000. International Assets Investment Management LLC bought a new stake in shares of Amgen in the 4th quarter worth about $4,589,900,000. Capital Wealth Planning LLC grew its holdings in shares of Amgen by 28,684.1% in the 1st quarter. Capital Wealth Planning LLC now owns 833,300 shares of the medical research company’s stock worth $236,924,000 after purchasing an additional 830,405 shares during the last quarter. Royal Bank of Canada lifted its position in Amgen by 14.8% during the 4th quarter. Royal Bank of Canada now owns 5,831,624 shares of the medical research company’s stock worth $1,679,625,000 after buying an additional 751,947 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in Amgen by 486.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 899,232 shares of the medical research company’s stock worth $258,997,000 after buying an additional 745,929 shares in the last quarter. Institutional investors own 76.50% of the company’s stock.

Amgen Stock Up 0.1 %

AMGN stock traded up $0.32 during mid-day trading on Friday, hitting $331.29. 1,848,897 shares of the company were exchanged, compared to its average volume of 2,256,279. 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 firm has a market cap of $177.71 billion, a P/E ratio of 47.33, a P/E/G ratio of 3.00 and a beta of 0.58. The firm’s 50 day simple moving average is $311.81 and its 200 day simple moving average is $296.25. Amgen Inc. has a 1-year low of $228.21 and a 1-year high of $338.98.

Amgen (NASDAQ:AMGN) last announced its earnings results on Thursday, May 2nd. The medical research company reported $3.96 EPS for the quarter, topping the consensus estimate of $3.76 by $0.20. The firm had revenue of $7.45 billion for the quarter, compared to the consensus estimate of $7.45 billion. Amgen had a net margin of 12.74% and a return on equity of 156.21%. The business’s quarterly revenue was up 22.0% on a year-over-year basis. During the same period last year, the company posted $3.98 EPS. On average, sell-side analysts predict that Amgen Inc. will post 19.48 EPS for the current fiscal year.

Insiders Place Their Bets

In other Amgen news, SVP Nancy A. Grygiel sold 2,117 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $313.09, for a total transaction of $662,811.53. Following the sale, the senior vice president now directly owns 9,883 shares in the company, valued at approximately $3,094,268.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.69% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Mizuho upped their price target on shares of Amgen from $223.00 to $235.00 and gave the stock a “neutral” rating in a research report on Thursday, May 9th. Argus upped their target price on shares of Amgen from $300.00 to $340.00 and gave the company a “buy” rating in a research report on Thursday, June 27th. William Blair upgraded shares of Amgen from a “market perform” rating to an “outperform” rating in a research report on Friday, May 3rd. StockNews.com upgraded shares of Amgen from a “hold” rating to a “buy” rating in a research report on Friday, May 3rd. Finally, UBS Group upped their target price on shares of Amgen from $284.00 to $307.00 and gave the company a “neutral” rating in a research report on Friday, May 3rd. Ten research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, Amgen has an average rating of “Moderate Buy” and an average price target of $312.63.

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.