New Potomac Partners LLC lowered its holdings in shares of Amgen, Inc. (NASDAQ:AMGN) by 2.6% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,325 shares of the medical research company’s stock after selling 140 shares during the period. New Potomac Partners LLC’s holdings in Amgen were worth $1,030,000 as of its most recent filing with the SEC.
Several other institutional investors have also bought and sold shares of the company. Advisors Preferred LLC purchased a new stake in Amgen during the 2nd quarter valued at $30,000. Arbor Wealth Management LLC raised its position in Amgen by 154.5% during the 2nd quarter. Arbor Wealth Management LLC now owns 168 shares of the medical research company’s stock worth $31,000 after buying an additional 102 shares during the last quarter. Atwater Malick LLC purchased a new position in Amgen during the 3rd quarter worth $39,000. Ashburton Jersey Ltd purchased a new position in Amgen during the 2nd quarter worth $42,000. Finally, Sound Income Strategies LLC raised its position in Amgen by 402.1% during the 2nd quarter. Sound Income Strategies LLC now owns 236 shares of the medical research company’s stock worth $43,000 after buying an additional 189 shares during the last quarter. 76.33% of the stock is owned by institutional investors.
A number of equities analysts have recently issued reports on AMGN shares. Evercore ISI reiterated a “hold” rating on shares of Amgen in a report on Sunday, August 11th. William Blair reissued a “hold” rating on shares of Amgen in a research note on Friday, August 30th. Goldman Sachs Group set a $243.00 price objective on shares of Amgen and gave the company a “buy” rating in a research note on Monday, September 30th. BidaskClub raised shares of Amgen from a “hold” rating to a “buy” rating in a research note on Wednesday, October 16th. Finally, Wells Fargo & Co reaffirmed a “market perform” rating and set a $220.00 price target (up from $202.00) on shares of Amgen in a research note on Tuesday, August 27th. They noted that the move was a valuation call. Eleven analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $217.28.
Amgen (NASDAQ:AMGN) last posted its earnings results on Tuesday, July 30th. The medical research company reported $3.97 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.58 by $0.39. The firm had revenue of $5.87 billion during the quarter, compared to analyst estimates of $5.67 billion. Amgen had a return on equity of 76.17% and a net margin of 33.78%. The company’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same period in the previous year, the company earned $3.83 EPS. As a group, equities analysts expect that Amgen, Inc. will post 14.33 EPS for the current year.
In other news, Director Ronald D. Sugar sold 2,000 shares of the business’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $206.70, for a total value of $413,400.00. Following the transaction, the director now directly owns 16,336 shares of the company’s stock, valued at approximately $3,376,651.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director R Sanders Williams sold 425 shares of the business’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $183.04, for a total value of $77,792.00. Following the completion of the transaction, the director now directly owns 16,336 shares in the company, valued at $2,990,141.44. The disclosure for this sale can be found here. Insiders have sold a total of 17,851 shares of company stock valued at $3,671,900 over the last quarter. 0.25% of the stock is currently owned by corporate insiders.
Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It offers products for the treatment of oncology/hematology, cardiovascular, inflammation, bone health, and neuroscience. 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; Aranesp to treat anemia; Xgeva for skeletal-related events prevention; Sensipar/Mimpara products to treat sHPT in chronic kidney disease; and EPOGEN to treat a lower-than-normal number of red blood cells.
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