Bourgeon Capital Management LLC Has $12.36 Million Stake in Amgen Inc. (NASDAQ:AMGN)

Bourgeon Capital Management LLC cut its stake in Amgen Inc. (NASDAQ:AMGN) by 0.4% in the 1st quarter, Holdings Channel reports. The firm owned 39,674 shares of the medical research company’s stock after selling 165 shares during the period. Amgen makes up about 2.7% of Bourgeon Capital Management LLC’s portfolio, making the stock its 6th biggest position. Bourgeon Capital Management LLC’s holdings in Amgen were worth $12,361,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in AMGN. Capital World Investors raised its holdings in Amgen by 1,292.0% in the 4th quarter. Capital World Investors now owns 6,495,710 shares of the medical research company’s stock worth $1,693,042,000 after purchasing an additional 6,029,058 shares in the last quarter. Norges Bank bought a new position in shares of Amgen in the 4th quarter worth about $1,541,991,000. GAMMA Investing LLC increased its stake in shares of Amgen by 43,573.5% in the 1st quarter. GAMMA Investing LLC now owns 3,661,589 shares of the medical research company’s stock worth $1,140,768,000 after acquiring an additional 3,653,205 shares in the last quarter. Capital International Investors increased its stake in shares of Amgen by 40.1% in the 4th quarter. Capital International Investors now owns 12,212,065 shares of the medical research company’s stock worth $3,182,843,000 after acquiring an additional 3,495,503 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Amgen by 25.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 13,205,604 shares of the medical research company’s stock worth $3,441,909,000 after acquiring an additional 2,672,975 shares in the last quarter. 76.50% of the stock is currently owned by institutional investors.

Amgen Stock Performance

AMGN opened at $288.47 on Tuesday. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 9.62. The company has a market cap of $155.11 billion, a price-to-earnings ratio of 38.21, a PEG ratio of 2.63 and a beta of 0.51. The company’s 50 day moving average is $283.12 and its 200 day moving average is $285.27. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $346.85.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Thursday, May 1st. The medical research company reported $4.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.18 by $0.72. The company had revenue of $8.15 billion for the quarter, compared to the consensus estimate of $8.05 billion. Amgen had a net margin of 12.24% and a return on equity of 176.32%. The firm’s revenue was up 9.4% compared to the same quarter last year. During the same quarter last year, the firm posted $3.96 earnings per share. On average, equities research analysts predict that Amgen Inc. will post 20.62 EPS for the current year.

Wall Street Analysts Forecast Growth

AMGN has been the subject of a number of analyst reports. Royal Bank of Canada reduced their price objective on shares of Amgen from $324.00 to $320.00 and set an “outperform” rating for the company in a research note on Friday, May 2nd. Citigroup restated a “neutral” rating on shares of Amgen in a research note on Wednesday, February 5th. Erste Group Bank lowered shares of Amgen from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 8th. Morgan Stanley restated an “equal weight” rating on shares of Amgen in a research note on Friday, May 2nd. Finally, UBS Group restated a “neutral” rating and set a $315.00 price objective (down from $319.00) on shares of Amgen in a research note on Friday, May 2nd. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $309.22.

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.