Logan Capital Management Inc. Reduces Stock Position in Amgen Inc. (NASDAQ:AMGN)

Logan Capital Management Inc. trimmed its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 4.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 26,709 shares of the medical research company’s stock after selling 1,333 shares during the period. Logan Capital Management Inc.’s holdings in Amgen were worth $8,606,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in the business. First Horizon Advisors Inc. boosted its holdings in Amgen by 3.2% in the third quarter. First Horizon Advisors Inc. now owns 60,769 shares of the medical research company’s stock valued at $19,581,000 after purchasing an additional 1,872 shares in the last quarter. Swiss National Bank lifted its position in shares of Amgen by 0.3% during the 3rd quarter. Swiss National Bank now owns 1,592,233 shares of the medical research company’s stock worth $513,033,000 after buying an additional 5,500 shares during the last quarter. Napa Wealth Management acquired a new position in shares of Amgen in the 3rd quarter valued at $1,104,000. HighVista Strategies LLC acquired a new stake in Amgen during the 3rd quarter worth $3,255,000. Finally, Summit Trail Advisors LLC lifted its position in Amgen by 40.1% in the third quarter. Summit Trail Advisors LLC now owns 7,552 shares of the medical research company’s stock valued at $2,433,000 after acquiring an additional 2,163 shares during the last quarter. 76.50% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

AMGN has been the topic of several research reports. Deutsche Bank Aktiengesellschaft dropped their price objective on Amgen from $305.00 to $285.00 in a report on Wednesday, November 27th. TD Cowen boosted their price objective on Amgen from $381.00 to $383.00 and gave the company a “buy” rating in a research note on Monday, October 21st. Bank of America reaffirmed an “underperform” rating and issued a $256.00 target price on shares of Amgen in a report on Tuesday. William Blair reiterated an “outperform” rating on shares of Amgen in a research note on Tuesday, November 12th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $405.00 price objective on shares of Amgen in a research note on Tuesday, October 22nd. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, eleven have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $319.68.

Amgen Price Performance

AMGN traded down $1.66 on Friday, hitting $272.40. 98,604 shares of the company were exchanged, compared to its average volume of 2,609,521. Amgen Inc. has a fifty-two week low of $257.80 and a fifty-two week high of $346.85. The company has a debt-to-equity ratio of 7.55, a quick ratio of 0.96 and a current ratio of 1.32. The firm has a market capitalization of $146.42 billion, a P/E ratio of 35.09, a price-to-earnings-growth ratio of 2.91 and a beta of 0.55. The business’s fifty day moving average is $303.00 and its 200 day moving average is $314.87.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share for the quarter, topping analysts’ consensus estimates of $5.11 by $0.47. The business had revenue of $8.50 billion for the quarter, compared to analysts’ expectations of $8.50 billion. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The company’s revenue was up 23.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.96 EPS. As a group, sell-side analysts anticipate that Amgen Inc. will post 19.53 EPS for the current year.

Amgen Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 14th will be paid a dividend of $2.38 per share. This represents a $9.52 annualized dividend and a dividend yield of 3.49%. The ex-dividend date is Friday, February 14th. This is an increase from Amgen’s previous quarterly dividend of $2.25. Amgen’s payout ratio is 115.24%.

Amgen 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.