Mission Wealth Management LP Grows Position in Amgen Inc. (NASDAQ:AMGN)
Mission Wealth Management LP grew its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 11.1% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,663 shares of the medical research company’s stock after purchasing an additional 768 shares during the quarter. Mission Wealth Management LP’s holdings in Amgen were worth $1,948,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Mercer Global Advisors Inc. ADV boosted its stake in shares of Amgen by 11.7% during the first quarter. Mercer Global Advisors Inc. ADV now owns 41,989 shares of the medical research company’s stock valued at $8,512,000 after purchasing an additional 4,383 shares during the period. Meiji Yasuda Life Insurance Co boosted its stake in shares of Amgen by 4.8% during the second quarter. Meiji Yasuda Life Insurance Co now owns 11,762 shares of the medical research company’s stock valued at $2,774,000 after purchasing an additional 534 shares during the period. Balentine LLC purchased a new stake in shares of Amgen during the first quarter valued at approximately $117,000. Tower Research Capital LLC TRC boosted its stake in shares of Amgen by 115.9% during the first quarter. Tower Research Capital LLC TRC now owns 1,777 shares of the medical research company’s stock valued at $360,000 after purchasing an additional 954 shares during the period. Finally, EP Wealth Advisors LLC lifted its stake in Amgen by 19.6% in the first quarter. EP Wealth Advisors LLC now owns 18,310 shares of the medical research company’s stock worth $3,712,000 after acquiring an additional 3,006 shares during the period. 75.23% of the stock is owned by hedge funds and other institutional investors.
A number of analysts recently commented on the company. SunTrust Banks raised their price target on Amgen from $254.00 to $268.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Oppenheimer raised their price target on Amgen from $270.00 to $280.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 6th. Barclays raised their price target on Amgen from $245.00 to $250.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 29th. JPMorgan Chase & Co. reaffirmed a “hold” rating on shares of Amgen in a research note on Tuesday, September 22nd. Finally, Jefferies Financial Group raised their price objective on Amgen from $285.00 to $300.00 and gave the company a “buy” rating in a research report on Wednesday, July 29th. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and fifteen have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $255.08.
NASDAQ AMGN opened at $235.72 on Friday. Amgen Inc. has a one year low of $177.05 and a one year high of $264.97. The stock has a 50-day moving average of $246.43 and a 200 day moving average of $237.88. The company has a market capitalization of $138.06 billion, a price-to-earnings ratio of 19.26, a PEG ratio of 2.11 and a beta of 0.81. The company has a debt-to-equity ratio of 3.20, a quick ratio of 1.81 and a current ratio of 2.18.
Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Tuesday, July 28th. The medical research company reported $4.25 EPS for the quarter, topping the consensus estimate of $3.81 by $0.44. Amgen had a return on equity of 91.98% and a net margin of 30.04%. The company had revenue of $6.21 billion during the quarter, compared to the consensus estimate of $6.19 billion. During the same period last year, the company earned $3.97 EPS. Amgen’s revenue for the quarter was up 5.7% on a year-over-year basis. On average, equities analysts predict that Amgen Inc. will post 15.66 earnings per share for the current fiscal year.
Amgen Company Profile
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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