CAPROCK Group Inc. Raises Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

CAPROCK Group Inc. boosted its holdings in Amgen Inc. (NASDAQ:AMGN – Get Rating) by 6.8% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,557 shares of the medical research company’s stock after buying an additional 419 shares during the quarter. CAPROCK Group Inc.’s holdings in Amgen were worth $1,586,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of AMGN. Dixon Hughes Goodman Wealth Advisors LLC bought a new stake in shares of Amgen during the 4th quarter valued at about $26,000. Norwood Financial Corp bought a new stake in shares of Amgen during the 4th quarter valued at about $28,000. Industrial Alliance Investment Management Inc. bought a new stake in shares of Amgen during the 4th quarter valued at about $31,000. Baltimore Washington Financial Advisors Inc. bought a new stake in shares of Amgen during the 4th quarter valued at about $33,000. Finally, Econ Financial Services Corp bought a new stake in shares of Amgen during the 4th quarter valued at about $34,000. 79.01% of the stock is owned by institutional investors and hedge funds.

A number of research analysts recently issued reports on the company. BMO Capital Markets cut their price objective on Amgen from $263.00 to $243.00 in a research note on Thursday, April 28th. SVB Leerink assumed coverage on Amgen in a research note on Monday, May 23rd. They set a “market perform” rating and a $256.00 price objective for the company. Morgan Stanley cut their price objective on Amgen from $238.00 to $237.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 12th. TheStreet downgraded Amgen from a “b+” rating to a “c+” rating in a research note on Wednesday, April 27th. Finally, StockNews.com upgraded Amgen from a “buy” rating to a “strong-buy” rating in a research note on Monday, May 16th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $242.57.

In related news, Director R Sanders Williams sold 600 shares of the firm’s stock in a transaction on Monday, May 23rd. The shares were sold at an average price of $250.00, for a total value of $150,000.00. Following the completion of the transaction, the director now directly owns 5,501 shares of the company’s stock, valued at $1,375,250. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Jonathan P. Graham sold 13,500 shares of the firm’s stock in a transaction on Tuesday, May 10th. The shares were sold at an average price of $241.81, for a total transaction of $3,264,435.00. Following the completion of the transaction, the executive vice president now directly owns 37,333 shares of the company’s stock, valued at $9,027,492.73. The disclosure for this sale can be found here. Company insiders own 0.46% of the company’s stock.

Shares of AMGN opened at $240.14 on Thursday. The company has a debt-to-equity ratio of 39.31, a current ratio of 1.44 and a quick ratio of 1.09. Amgen Inc. has a 1 year low of $198.64 and a 1 year high of $258.45. The company has a 50 day simple moving average of $244.62 and a two-hundred day simple moving average of $234.69. The firm has a market cap of $128.28 billion, a P/E ratio of 23.64, a price-to-earnings-growth ratio of 2.05 and a beta of 0.57.

Amgen (NASDAQ:AMGN – Get Rating) last posted its earnings results on Wednesday, April 27th. The medical research company reported $4.25 earnings per share for the quarter, beating analysts’ consensus estimates of $4.22 by $0.03. Amgen had a net margin of 21.75% and a return on equity of 165.95%. The firm had revenue of $6.24 billion during the quarter, compared to analyst estimates of $6.09 billion. During the same period last year, the firm posted $3.70 earnings per share. On average, sell-side analysts anticipate that Amgen Inc. will post 17.44 earnings per share for the current year.

Amgen Profile (Get Rating)

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It focuses on inflammation, oncology/hematology, bone health, cardiovascular disease, nephrology, and neuroscience areas. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta that reduces the chance of infection due a low white blood cell count in patients cancer; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Aranesp to treat a lower-than-normal number of red blood cells and anemia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; and Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization.

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