YHB Investment Advisors Inc. Trims Stake in Amgen Inc. (NASDAQ:AMGN)

by · The Markets Daily

YHB Investment Advisors Inc. cut its position in Amgen Inc. (NASDAQ:AMGN – Free Report) by 0.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 42,913 shares of the medical research company’s stock after selling 72 shares during the period. Amgen comprises 1.1% of YHB Investment Advisors Inc.’s portfolio, making the stock its 20th largest holding. YHB Investment Advisors Inc.’s holdings in Amgen were worth $13,827,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AMGN. Vanguard Group Inc. boosted its stake in Amgen by 6.2% in the 1st quarter. Vanguard Group Inc. now owns 52,088,210 shares of the medical research company’s stock worth $14,809,720,000 after purchasing an additional 3,045,657 shares in the last quarter. Capital International Investors lifted its stake in Amgen by 547.8% during the 1st quarter. Capital International Investors now owns 7,005,269 shares of the medical research company’s stock valued at $1,991,738,000 after acquiring an additional 5,923,915 shares during the period. Dimensional Fund Advisors LP lifted its stake in Amgen by 6.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,701,631 shares of the medical research company’s stock valued at $844,137,000 after acquiring an additional 162,223 shares during the period. International Assets Investment Management LLC lifted its stake in Amgen by 6,812.4% during the 3rd quarter. International Assets Investment Management LLC now owns 2,523,387 shares of the medical research company’s stock valued at $8,130,610,000 after acquiring an additional 2,486,882 shares during the period. Finally, Janus Henderson Group PLC lifted its stake in Amgen by 137.1% during the 1st quarter. Janus Henderson Group PLC now owns 2,381,133 shares of the medical research company’s stock valued at $676,984,000 after acquiring an additional 1,377,007 shares during the period. 76.50% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Jefferies Financial Group reaffirmed a “buy” rating and set a $380.00 target price (up from $375.00) on shares of Amgen in a report on Wednesday, August 7th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $405.00 target price on shares of Amgen in a report on Tuesday. Dbs Bank raised shares of Amgen to a “strong-buy” rating in a report on Monday, September 16th. Sanford C. Bernstein assumed coverage on shares of Amgen in a report on Thursday, October 17th. They set an “outperform” rating and a $380.00 target price for the company. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $380.00 target price on shares of Amgen in a report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $332.55.

Check Out Our Latest Research Report on AMGN

Amgen Trading Down 1.5 %

NASDAQ:AMGN opened at $314.90 on Thursday. The company has a quick ratio of 0.89, a current ratio of 1.26 and a debt-to-equity ratio of 9.64. Amgen Inc. has a 1-year low of $249.70 and a 1-year high of $346.85. The firm has a market capitalization of $168.92 billion, a price-to-earnings ratio of 44.99, a price-to-earnings-growth ratio of 2.86 and a beta of 0.61. The stock has a fifty day simple moving average of $325.77 and a 200 day simple moving average of $313.12.

Amgen (NASDAQ:AMGN – Get Free Report) last announced its quarterly earnings data on Tuesday, August 6th. The medical research company reported $4.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.01 by ($0.04). The business had revenue of $8.39 billion during the quarter, compared to analysts’ expectations of $8.35 billion. Amgen had a return on equity of 161.72% and a net margin of 10.12%. The firm’s revenue was up 20.1% on a year-over-year basis. During the same period in the prior year, the company posted $5.00 earnings per share. Sell-side analysts forecast that Amgen Inc. will post 19.49 earnings per share for the current year.

Amgen Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 6th. Investors of record on Friday, August 16th were paid a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.86%. The ex-dividend date was Friday, August 16th. Amgen’s payout ratio is 128.57%.

Amgen Profile

(Free Report)

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.

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