Hyperion Partners LLC Lowers Position in Amgen Inc. (NASDAQ:AMGN)

Hyperion Partners LLC decreased its position in Amgen Inc. (NASDAQ:AMGN) by 50.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 728 shares of the medical research company’s stock after selling 739 shares during the period. Hyperion Partners LLC’s holdings in Amgen were worth $207,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Rathbones Group PLC boosted its holdings in Amgen by 9.9% during the third quarter. Rathbones Group PLC now owns 8,928 shares of the medical research company’s stock worth $2,399,000 after buying an additional 802 shares in the last quarter. Regal Investment Advisors LLC lifted its holdings in shares of Amgen by 3.4% in the third quarter. Regal Investment Advisors LLC now owns 3,406 shares of the medical research company’s stock valued at $915,000 after purchasing an additional 112 shares in the last quarter. LPL Financial LLC lifted its holdings in shares of Amgen by 7.1% in the third quarter. LPL Financial LLC now owns 756,209 shares of the medical research company’s stock valued at $203,239,000 after purchasing an additional 49,871 shares in the last quarter. Fuller & Thaler Asset Management Inc. lifted its holdings in shares of Amgen by 1.7% in the third quarter. Fuller & Thaler Asset Management Inc. now owns 11,658 shares of the medical research company’s stock valued at $3,133,000 after purchasing an additional 193 shares in the last quarter. Finally, Retirement Planning Co of New England Inc. lifted its holdings in shares of Amgen by 23.0% in the third quarter. Retirement Planning Co of New England Inc. now owns 1,376 shares of the medical research company’s stock valued at $370,000 after purchasing an additional 257 shares in the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Barclays raised shares of Amgen from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $230.00 to $300.00 in a report on Friday, May 3rd. Royal Bank of Canada upped their price target on shares of Amgen from $328.00 to $332.00 and gave the company an “outperform” rating in a report on Friday, June 14th. Morgan Stanley boosted their price objective on shares of Amgen from $271.00 to $310.00 and gave the company an “equal weight” rating in a research report on Friday, May 3rd. StockNews.com raised shares of Amgen from a “hold” rating to a “buy” rating in a research note on Friday, May 3rd. Finally, UBS Group upped their price objective on shares of Amgen from $284.00 to $307.00 and gave the company a “neutral” rating in a research note on Friday, May 3rd. Ten equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $305.85.

Amgen Stock Performance

NASDAQ:AMGN traded down $1.73 during trading hours on Friday, hitting $308.16. 6,933,277 shares of the company traded hands, compared to its average volume of 2,019,282. The stock has a market capitalization of $165.31 billion, a price-to-earnings ratio of 44.02, a P/E/G ratio of 2.80 and a beta of 0.60. Amgen Inc. has a twelve month low of $218.44 and a twelve month high of $329.72. The firm has a 50-day moving average of $296.57 and a 200 day moving average of $290.69. The company has a current ratio of 1.42, a quick ratio of 0.98 and a debt-to-equity ratio of 11.96.

Amgen (NASDAQ:AMGN) last released its earnings results on Thursday, May 2nd. The medical research company reported $3.96 EPS for the quarter, beating the consensus estimate of $3.76 by $0.20. The firm had revenue of $7.45 billion during the quarter, compared to analysts’ expectations of $7.45 billion. Amgen had a net margin of 12.74% and a return on equity of 156.21%. The business’s quarterly revenue was up 22.0% compared to the same quarter last year. During the same period in the prior year, the company earned $3.98 EPS. On average, analysts forecast that Amgen Inc. will post 19.47 EPS for the current year.

Insider Buying and Selling at Amgen

In other news, SVP Nancy A. Grygiel sold 2,117 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $313.09, for a total value of $662,811.53. Following the sale, the senior vice president now owns 9,883 shares of the company’s stock, valued at approximately $3,094,268.47. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.69% of the company’s stock.

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.