Orbimed Advisors LLC reduced its stake in Amgen, Inc. (NASDAQ:AMGN) by 72.1% during the second quarter, HoldingsChannel reports. The firm owned 124,100 shares of the medical research company’s stock after selling 321,210 shares during the period. Orbimed Advisors LLC’s holdings in Amgen were worth $22,908,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Kwmg LLC bought a new position in Amgen during the second quarter valued at approximately $108,000. Braun Bostich & Associates Inc. bought a new position in Amgen during the first quarter valued at approximately $113,000. WealthTrust Fairport LLC bought a new position in Amgen during the first quarter valued at approximately $121,000. Cornerstone Advisors Inc. grew its position in Amgen by 76.5% during the first quarter. Cornerstone Advisors Inc. now owns 729 shares of the medical research company’s stock valued at $124,000 after acquiring an additional 316 shares during the last quarter. Finally, Gables Capital Management Inc. bought a new position in Amgen during the first quarter valued at approximately $174,000. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Shares of AMGN stock opened at $200.81 on Tuesday. Amgen, Inc. has a 52 week low of $163.31 and a 52 week high of $204.42. The firm has a market capitalization of $129.83 billion, a P/E ratio of 15.96, a price-to-earnings-growth ratio of 1.96 and a beta of 1.40. The company has a quick ratio of 3.12, a current ratio of 3.39 and a debt-to-equity ratio of 2.03.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Thursday, July 26th. The medical research company reported $3.83 EPS for the quarter, topping analysts’ consensus estimates of $3.52 by $0.31. Amgen had a return on equity of 43.18% and a net margin of 10.19%. The company had revenue of $6.06 billion during the quarter, compared to analyst estimates of $5.73 billion. During the same quarter last year, the firm posted $3.27 earnings per share. The firm’s revenue was up 4.3% on a year-over-year basis. sell-side analysts anticipate that Amgen, Inc. will post 13.95 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 7th. Investors of record on Friday, August 17th were paid a $1.32 dividend. This represents a $5.28 dividend on an annualized basis and a yield of 2.63%. The ex-dividend date of this dividend was Thursday, August 16th. Amgen’s payout ratio is 41.97%.

AMGN has been the topic of several recent analyst reports. TheStreet upgraded shares of Amgen from a “c+” rating to a “b-” rating in a report on Friday, May 25th. Jefferies Financial Group raised their target price on shares of Amgen from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Friday, July 27th. Morgan Stanley raised their target price on shares of Amgen from $200.00 to $210.00 and gave the stock a “buy” rating in a report on Friday, July 13th. BidaskClub cut shares of Amgen from a “strong-buy” rating to a “buy” rating in a report on Thursday, July 19th. Finally, Zacks Investment Research upgraded shares of Amgen from a “hold” rating to a “buy” rating and set a $207.00 target price on the stock in a report on Tuesday, June 26th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have issued a buy rating to the company. Amgen presently has a consensus rating of “Hold” and a consensus target price of $203.03.

In related news, EVP Sean E. Harper sold 1,525 shares of the firm’s stock in a transaction on Monday, July 16th. The stock was sold at an average price of $195.71, for a total value of $298,457.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.27% of the company’s stock.

About Amgen

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It offers products for the treatment of oncology/hematology, cardiovascular, inflammation, bone health, nephrology, and neuroscience. The company's products include Evenity to treat osteoporosis in postmenopausal women; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Repatha to treat coronary diseases; Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Parsabiv to treat secondary hyperparathyroidism (sHPT); and Aimovig for the prevention of migraine.

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Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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