Bruderman Asset Management LLC lessened its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 5.8% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 4,320 shares of the medical research company’s stock after selling 265 shares during the quarter. Bruderman Asset Management LLC’s holdings in Amgen were worth $1,098,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of AMGN. Skandinaviska Enskilda Banken AB publ raised its stake in Amgen by 0.4% in the 1st quarter. Skandinaviska Enskilda Banken AB publ now owns 929,585 shares of the medical research company’s stock worth $188,455,000 after purchasing an additional 3,643 shares in the last quarter. APG Asset Management N.V. raised its stake in Amgen by 67.7% in the 1st quarter. APG Asset Management N.V. now owns 732,305 shares of the medical research company’s stock worth $148,460,000 after purchasing an additional 295,600 shares in the last quarter. CWA Asset Management Group LLC raised its stake in Amgen by 7.6% in the 1st quarter. CWA Asset Management Group LLC now owns 2,413 shares of the medical research company’s stock worth $489,000 after purchasing an additional 171 shares in the last quarter. London & Capital Asset Management Ltd raised its position in shares of Amgen by 16.6% in the 1st quarter. London & Capital Asset Management Ltd now owns 112,884 shares of the medical research company’s stock valued at $22,886,000 after buying an additional 16,108 shares in the last quarter. Finally, Morgan Stanley raised its position in shares of Amgen by 7.4% in the 1st quarter. Morgan Stanley now owns 7,263,835 shares of the medical research company’s stock valued at $1,472,598,000 after buying an additional 501,592 shares in the last quarter. Institutional investors own 75.23% of the company’s stock.
In other Amgen news, Director R Sanders Williams sold 250 shares of the company’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $242.95, for a total transaction of $60,737.50. Following the transaction, the director now owns 5,159 shares in the company, valued at $1,253,379.05. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Ronald D. Sugar sold 1,000 shares of the company’s stock in a transaction on Wednesday, July 22nd. The stock was sold at an average price of $259.79, for a total transaction of $259,790.00. Following the transaction, the director now owns 16,589 shares in the company, valued at approximately $4,309,656.31. The disclosure for this sale can be found here. Insiders have sold a total of 2,250 shares of company stock worth $561,548 in the last quarter. 0.36% of the stock is owned by corporate insiders.
Amgen (NASDAQ:AMGN) last released its earnings results on Tuesday, July 28th. The medical research company reported $4.25 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.81 by $0.44. Amgen had a net margin of 30.04% and a return on equity of 91.98%. The company had revenue of $6.21 billion for the quarter, compared to the consensus estimate of $6.19 billion. During the same quarter in the previous year, the company earned $3.97 EPS. Amgen’s quarterly revenue was up 5.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Amgen Inc. will post 15.66 earnings per share for the current year.
Several brokerages have recently commented on AMGN. Raymond James restated a “market perform” rating on shares of Amgen in a research report on Tuesday, October 6th. Jefferies Financial Group boosted their target price on shares of Amgen from $285.00 to $300.00 and gave the company a “buy” rating in a research report on Wednesday, July 29th. Oppenheimer boosted their target price on shares of Amgen from $270.00 to $280.00 and gave the company an “outperform” rating in a research report on Tuesday, October 6th. Credit Suisse Group restated a “buy” rating on shares of Amgen in a research report on Wednesday, July 29th. Finally, ValuEngine lowered shares of Amgen from a “hold” rating to a “sell” rating in a report on Thursday, October 8th. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and fifteen have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $255.08.
Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It focuses on inflammation, oncology/hematology, bone health, cardiovascular disease, nephrology and neuroscience areas. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta, a pegylated protein to treat cancer patients; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Aranesp to treat a lower-than-normal number of red blood cells and anemia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; Sensipar/Mimpara to treat secondary hyperparathyroidism; and EPOGEN to treat anemia caused by chronic kidney disease.
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