PFM Health Sciences LP Boosts Stake in Amgen Inc. (NASDAQ:AMGN)

PFM Health Sciences LP grew its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 11.4% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 90,297 shares of the medical research company’s stock after buying an additional 9,263 shares during the quarter. Amgen accounts for 1.6% of PFM Health Sciences LP’s investment portfolio, making the stock its 23rd biggest position. PFM Health Sciences LP’s holdings in Amgen were worth $29,095,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently made changes to their positions in AMGN. Kolinsky Wealth Management LLC raised its position in Amgen by 4.4% in the 3rd quarter. Kolinsky Wealth Management LLC now owns 2,241 shares of the medical research company’s stock worth $722,000 after purchasing an additional 95 shares during the period. Ironwood Investment Counsel LLC raised its position in Amgen by 3.7% in the 3rd quarter. Ironwood Investment Counsel LLC now owns 4,784 shares of the medical research company’s stock worth $1,542,000 after purchasing an additional 170 shares during the period. Caisse DE Depot ET Placement DU Quebec raised its position in Amgen by 64.7% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 293,333 shares of the medical research company’s stock worth $94,515,000 after purchasing an additional 115,210 shares during the period. Captrust Financial Advisors raised its position in Amgen by 2.5% in the 3rd quarter. Captrust Financial Advisors now owns 583,626 shares of the medical research company’s stock worth $188,050,000 after purchasing an additional 14,253 shares during the period. Finally, Rockefeller Capital Management L.P. raised its position in Amgen by 1.1% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 452,590 shares of the medical research company’s stock worth $145,800,000 after purchasing an additional 4,901 shares during the period. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Trading Up 1.0 %

NASDAQ:AMGN opened at $282.87 on Friday. Amgen Inc. has a one year low of $257.80 and a one year high of $346.85. The company has a debt-to-equity ratio of 7.55, a current ratio of 1.32 and a quick ratio of 0.96. The company’s 50-day simple moving average is $311.37 and its 200 day simple moving average is $317.14. The firm has a market capitalization of $152.05 billion, a P/E ratio of 36.22, a PEG ratio of 2.50 and a beta of 0.60.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, topping the consensus estimate of $5.11 by $0.47. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The business had revenue of $8.50 billion for the quarter, compared to analyst estimates of $8.50 billion. During the same quarter in the previous year, the firm posted $4.96 earnings per share. Amgen’s quarterly revenue was up 23.2% on a year-over-year basis. As a group, analysts forecast that Amgen Inc. will post 19.52 EPS for the current fiscal year.

Amgen Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 18th will be paid a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a yield of 3.18%. The ex-dividend date of this dividend is Monday, November 18th. Amgen’s payout ratio is currently 115.24%.

Wall Street Analysts Forecast Growth

AMGN has been the topic of a number of analyst reports. Oppenheimer reiterated an “outperform” rating and issued a $380.00 target price on shares of Amgen in a research report on Wednesday, August 7th. Dbs Bank upgraded shares of Amgen to a “strong-buy” rating in a research report on Monday, September 16th. Sanford C. Bernstein started coverage on shares of Amgen in a research report on Thursday, October 17th. They issued an “outperform” rating and a $380.00 price objective on the stock. TD Cowen boosted their price objective on shares of Amgen from $381.00 to $383.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Finally, Wolfe Research started coverage on shares of Amgen in a research report on Friday, November 15th. They issued a “peer perform” rating on the stock. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $323.05.

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.