Saxon Interests Inc. Grows Stock Position in Amgen Inc. (NASDAQ:AMGN)

Saxon Interests Inc. grew its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 14.6% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,893 shares of the medical research company’s stock after purchasing an additional 241 shares during the quarter. Saxon Interests Inc.’s holdings in Amgen were worth $538,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. BOK Financial Private Wealth Inc. bought a new position in shares of Amgen during the 4th quarter valued at approximately $29,000. United Community Bank bought a new position in shares of Amgen during the 4th quarter valued at approximately $29,000. Planned Solutions Inc. bought a new position in shares of Amgen during the 4th quarter valued at approximately $30,000. Delos Wealth Advisors LLC grew its stake in shares of Amgen by 2,500.0% during the 4th quarter. Delos Wealth Advisors LLC now owns 104 shares of the medical research company’s stock valued at $30,000 after acquiring an additional 100 shares during the period. Finally, Hartford Financial Management Inc. grew its stake in shares of Amgen by 56.9% during the 4th quarter. Hartford Financial Management Inc. now owns 113 shares of the medical research company’s stock valued at $33,000 after acquiring an additional 41 shares during the period. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Stock Down 0.1 %

AMGN stock traded down $0.24 during trading on Tuesday, reaching $310.77. 1,542,747 shares of the company traded hands, compared to its average volume of 2,773,284. Amgen Inc. has a 12 month low of $218.44 and a 12 month high of $329.72. The business has a 50 day simple moving average of $302.34 and a 200 day simple moving average of $292.55. The company has a market capitalization of $166.71 billion, a price-to-earnings ratio of 44.40, a price-to-earnings-growth ratio of 2.82 and a beta of 0.58. The company has a debt-to-equity ratio of 11.96, a quick ratio of 0.98 and a current ratio of 1.42.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Thursday, May 2nd. The medical research company reported $3.96 earnings per share for the quarter, beating analysts’ consensus estimates of $3.76 by $0.20. The company had revenue of $7.45 billion for the quarter, compared to the consensus estimate of $7.45 billion. Amgen had a return on equity of 156.21% and a net margin of 12.74%. The firm’s revenue for the quarter was up 22.0% compared to the same quarter last year. During the same quarter last year, the company earned $3.98 earnings per share. On average, equities research analysts anticipate that Amgen Inc. will post 19.47 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Royal Bank of Canada upped their price target on Amgen from $328.00 to $332.00 and gave the stock an “outperform” rating in a research note on Friday, June 14th. William Blair upgraded Amgen from a “market perform” rating to an “outperform” rating in a research note on Friday, May 3rd. BMO Capital Markets upped their price target on Amgen from $336.00 to $355.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. Argus increased their target price on Amgen from $300.00 to $340.00 and gave the company a “buy” rating in a research report on Thursday, June 27th. Finally, Raymond James initiated coverage on Amgen in a research report on Thursday, March 28th. They set a “market perform” rating for the company. Ten analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $307.35.

Insiders Place Their Bets

In other Amgen news, SVP Nancy A. Grygiel sold 2,117 shares of the firm’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $313.09, for a total value of $662,811.53. Following the completion of the sale, the senior vice president now owns 9,883 shares of the company’s stock, valued at $3,094,268.47. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.69% of the company’s stock.

About Amgen

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.