Waverly Advisors LLC Raises Stake in Amgen Inc. (NASDAQ:AMGN)

Waverly Advisors LLC increased its stake in Amgen Inc. (NASDAQ:AMGN) by 54.4% during the first quarter, according to its most recent filing with the SEC. The fund owned 9,628 shares of the medical research company’s stock after buying an additional 3,393 shares during the quarter. Waverly Advisors LLC’s holdings in Amgen were worth $2,737,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Provence Wealth Management Group lifted its holdings in Amgen by 11.9% during the fourth quarter. Provence Wealth Management Group now owns 1,445 shares of the medical research company’s stock valued at $416,000 after purchasing an additional 154 shares during the last quarter. Kinsale Capital Group Inc. lifted its holdings in Amgen by 33.0% during the fourth quarter. Kinsale Capital Group Inc. now owns 11,348 shares of the medical research company’s stock valued at $3,269,000 after purchasing an additional 2,814 shares during the last quarter. Global Wealth Management Investment Advisory Inc. lifted its holdings in Amgen by 2.4% during the fourth quarter. Global Wealth Management Investment Advisory Inc. now owns 4,733 shares of the medical research company’s stock valued at $1,363,000 after purchasing an additional 109 shares during the last quarter. Valley Brook Capital Group Inc. lifted its holdings in Amgen by 7.0% during the fourth quarter. Valley Brook Capital Group Inc. now owns 4,730 shares of the medical research company’s stock valued at $1,362,000 after purchasing an additional 310 shares during the last quarter. Finally, Evergreen Wealth Management LLC increased its position in shares of Amgen by 1.7% during the fourth quarter. Evergreen Wealth Management LLC now owns 4,892 shares of the medical research company’s stock valued at $1,409,000 after buying an additional 84 shares during the period. 76.50% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, SVP Nancy A. Grygiel sold 2,117 shares of the firm’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 transaction, the senior vice president now directly owns 9,883 shares in the company, valued at $3,094,268.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.69% of the stock is owned by corporate insiders.

Amgen Trading Up 0.2 %

AMGN stock traded up $0.50 on Tuesday, reaching $333.01. The company’s stock had a trading volume of 808,559 shares, compared to its average volume of 2,640,851. The business has a fifty day simple moving average of $314.32 and a two-hundred day simple moving average of $297.45. Amgen Inc. has a 12-month low of $228.21 and a 12-month high of $346.85. The firm has a market cap of $178.64 billion, a PE ratio of 47.50, a PEG ratio of 2.78 and a beta of 0.58. The company has a debt-to-equity ratio of 11.96, a quick ratio of 0.98 and a current ratio of 1.42.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results 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. The company had revenue of $7.45 billion during 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 revenue was up 22.0% on a year-over-year basis. During the same quarter last year, the firm posted $3.98 earnings per share. As a group, research analysts forecast that Amgen Inc. will post 19.5 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. BMO Capital Markets upped their price target on Amgen from $336.00 to $355.00 and gave the company an “outperform” rating in a research report on Friday, May 3rd. Argus upped their price target on Amgen from $300.00 to $340.00 and gave the company a “buy” rating in a research report on Thursday, June 27th. StockNews.com upgraded Amgen from a “hold” rating to a “buy” rating in a research report on Friday, May 3rd. Morgan Stanley decreased their price target on Amgen from $310.00 to $303.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 11th. Finally, Royal Bank of Canada upped their price objective on shares of Amgen from $328.00 to $332.00 and gave the stock an “outperform” rating in a research report on Friday, June 14th. Ten investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price 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.