Everhart Financial Group Inc. Increases Stake in Amgen Inc. (NASDAQ:AMGN)

Everhart Financial Group Inc. increased its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 91.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,750 shares of the medical research company’s stock after purchasing an additional 1,795 shares during the quarter. Everhart Financial Group Inc.’s holdings in Amgen were worth $1,168,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the stock. Capital World Investors raised its position in Amgen by 1,292.0% in the fourth quarter. Capital World Investors now owns 6,495,710 shares of the medical research company’s stock worth $1,693,042,000 after acquiring an additional 6,029,058 shares during the period. Norges Bank bought a new position in Amgen in the 4th quarter worth approximately $1,541,991,000. GAMMA Investing LLC increased its holdings in 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 valued at $1,140,768,000 after acquiring an additional 3,653,205 shares during the last quarter. Capital International Investors lifted its position in shares of Amgen by 40.1% in the fourth quarter. Capital International Investors now owns 12,212,065 shares of the medical research company’s stock worth $3,182,843,000 after buying an additional 3,495,503 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Amgen by 25.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 13,205,604 shares of the medical research company’s stock valued at $3,441,909,000 after purchasing an additional 2,672,975 shares in the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Price Performance

Shares of AMGN stock opened at $297.29 on Friday. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $346.85. The firm’s 50-day moving average is $281.03 and its two-hundred day moving average is $285.48. The company has a market capitalization of $159.85 billion, a PE ratio of 39.38, a price-to-earnings-growth ratio of 2.63 and a beta of 0.51. The company has a debt-to-equity ratio of 9.62, a current ratio of 1.26 and a quick ratio of 0.95.

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

Insider Buying and Selling at Amgen

In other news, SVP Rachna Khosla sold 1,500 shares of Amgen stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $289.68, for a total value of $434,520.00. Following the completion of the transaction, the senior vice president now owns 8,162 shares in the company, valued at approximately $2,364,368.16. This trade represents a 15.52% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.76% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have weighed in on AMGN. Guggenheim began coverage on Amgen in a report on Tuesday, May 20th. They issued a “neutral” rating and a $288.00 target price for the company. Mizuho increased their price objective on Amgen from $235.00 to $280.00 and gave the company a “neutral” rating in a report on Wednesday, May 7th. Erste Group Bank lowered Amgen from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 8th. Royal Bank of Canada dropped their target price on Amgen from $324.00 to $320.00 and set an “outperform” rating on the stock in a research report on Friday, May 2nd. Finally, Cantor Fitzgerald began coverage on shares of Amgen in a report on Tuesday, April 22nd. They issued a “neutral” rating and a $305.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus 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.