Rovin Capital UT ADV Buys New Shares in Amgen Inc. (NASDAQ:AMGN)

Rovin Capital UT ADV purchased a new position in Amgen Inc. (NASDAQ:AMGN) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 653 shares of the medical research company’s stock, valued at approximately $210,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Capital International Investors raised its stake in Amgen by 547.8% during the first quarter. Capital International Investors now owns 7,005,269 shares of the medical research company’s stock worth $1,991,738,000 after purchasing an additional 5,923,915 shares during the period. Pathway Financial Advisers LLC raised its position in shares of Amgen by 33,125.4% in the 3rd quarter. Pathway Financial Advisers LLC now owns 4,460,181 shares of the medical research company’s stock worth $1,437,115,000 after buying an additional 4,446,757 shares during the period. Vanguard Group Inc. grew its position in Amgen by 6.2% during the first quarter. Vanguard Group Inc. now owns 52,088,210 shares of the medical research company’s stock valued at $14,809,720,000 after acquiring an additional 3,045,657 shares during the period. International Assets Investment Management LLC increased its stake in Amgen by 6,812.4% during the third quarter. International Assets Investment Management LLC now owns 2,523,387 shares of the medical research company’s stock worth $8,130,610,000 after acquiring an additional 2,486,882 shares during the last quarter. Finally, Janus Henderson Group PLC increased its stake in Amgen by 137.1% during the first quarter. Janus Henderson Group PLC now owns 2,381,133 shares of the medical research company’s stock worth $676,984,000 after acquiring an additional 1,377,007 shares during the last quarter. 76.50% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently issued reports on AMGN shares. Jefferies Financial Group reiterated a “buy” rating and set a $380.00 target price (up previously from $375.00) on shares of Amgen in a report on Wednesday, August 7th. Barclays boosted their price objective on shares of Amgen from $300.00 to $315.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. Wells Fargo & Company downgraded shares of Amgen from an “overweight” rating to an “equal weight” rating and raised their target price for the company from $320.00 to $335.00 in a research note on Wednesday, August 7th. StockNews.com raised shares of Amgen from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 1st. Finally, TD Cowen increased their price target on Amgen from $381.00 to $383.00 and gave the company a “buy” rating in a report on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $333.50.

Amgen Price Performance

Shares of Amgen stock opened at $325.28 on Friday. Amgen Inc. has a 52 week low of $260.52 and a 52 week high of $346.85. The company has a current ratio of 1.32, a quick ratio of 0.96 and a debt-to-equity ratio of 7.55. The stock has a market cap of $174.85 billion, a PE ratio of 41.65, a price-to-earnings-growth ratio of 2.87 and a beta of 0.60. The company’s 50-day moving average price is $323.61 and its two-hundred day moving average price is $317.08.

Amgen (NASDAQ:AMGN) last released its earnings results on Wednesday, October 30th. The medical research company reported $5.58 EPS for the quarter, beating the consensus estimate of $5.11 by $0.47. The business had revenue of $8.50 billion during the quarter, compared to analyst estimates of $8.50 billion. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The business’s quarterly revenue was up 23.2% on a year-over-year basis. During the same period in the prior year, the business earned $4.96 earnings per share. As a group, sell-side analysts anticipate that Amgen Inc. will post 19.51 EPS for the current fiscal year.

Amgen Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 18th will be given a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date is Monday, November 18th. Amgen’s dividend payout ratio (DPR) is presently 115.24%.

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.