Krensavage Asset Management LLC Raises Position in Amgen, Inc. (AMGN)

Krensavage Asset Management LLC increased its holdings in Amgen, Inc. (NASDAQ:AMGN) by 13.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 77,079 shares of the medical research company’s stock after buying an additional 9,064 shares during the quarter. Amgen comprises approximately 4.0% of Krensavage Asset Management LLC’s investment portfolio, making the stock its 11th largest holding. Krensavage Asset Management LLC’s holdings in Amgen were worth $13,275,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. TrimTabs Asset Management LLC boosted its position in Amgen by 88.9% in the 1st quarter. TrimTabs Asset Management LLC now owns 612 shares of the medical research company’s stock worth $100,000 after purchasing an additional 288 shares in the last quarter. American Beacon Advisors Inc. purchased a new stake in Amgen in the 1st quarter worth approximately $106,000. Jackson Grant Investment Advisers Inc. boosted its position in Amgen by 0.8% in the 2nd quarter. Jackson Grant Investment Advisers Inc. now owns 641 shares of the medical research company’s stock worth $110,000 after purchasing an additional 5 shares in the last quarter. Omnia Family Wealth LLC boosted its position in Amgen by 25.3% in the 2nd quarter. Omnia Family Wealth LLC now owns 729 shares of the medical research company’s stock worth $125,000 after purchasing an additional 147 shares in the last quarter. Finally, Grove Bank & Trust boosted its position in Amgen by 87.4% in the 2nd quarter. Grove Bank & Trust now owns 731 shares of the medical research company’s stock worth $126,000 after purchasing an additional 341 shares in the last quarter. Institutional investors own 78.38% of the company’s stock.

Amgen, Inc. (AMGN) opened at $175.41 on Monday. Amgen, Inc. has a 52-week low of $141.00 and a 52-week high of $191.10. The stock has a market capitalization of $127,330.00, a P/E ratio of 13.94, a PEG ratio of 2.54 and a beta of 1.36. The company has a debt-to-equity ratio of 1.05, a quick ratio of 5.72 and a current ratio of 6.07.

Amgen (NASDAQ:AMGN) last announced its earnings results on Wednesday, October 25th. The medical research company reported $3.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.11 by $0.16. Amgen had a return on equity of 29.90% and a net margin of 35.54%. The firm had revenue of $5.77 billion for the quarter, compared to analyst estimates of $5.75 billion. During the same quarter last year, the firm posted $3.02 EPS. The business’s revenue was down .7% on a year-over-year basis. analysts expect that Amgen, Inc. will post 12.66 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, December 8th. Stockholders of record on Friday, November 17th were given a dividend of $1.15 per share. The ex-dividend date was Thursday, November 16th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.62%. Amgen’s dividend payout ratio (DPR) is 41.55%.

Amgen declared that its Board of Directors has authorized a share repurchase plan on Wednesday, October 25th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the medical research company to reacquire shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Several equities research analysts have commented on the company. Credit Suisse Group restated a “neutral” rating and issued a $186.00 price objective (up previously from $177.00) on shares of Amgen in a research report on Friday, September 29th. Royal Bank Of Canada assumed coverage on Amgen in a research report on Thursday, September 14th. They issued a “sector perform” rating and a $192.00 price objective on the stock. Mizuho restated a “buy” rating and issued a $183.00 price objective (down previously from $195.00) on shares of Amgen in a research report on Monday, August 21st. Morgan Stanley lowered their price objective on Amgen from $196.00 to $193.00 and set an “overweight” rating on the stock in a research report on Thursday, October 26th. Finally, Zacks Investment Research upgraded Amgen from a “hold” rating to a “buy” rating and set a $199.00 price objective on the stock in a research report on Friday, October 27th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. Amgen presently has an average rating of “Hold” and an average price target of $190.22.

In other Amgen news, Director Carbonnel Francois De sold 4,000 shares of the firm’s stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $173.61, for a total value of $694,440.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Sean E. Harper sold 1,525 shares of the firm’s stock in a transaction on Monday, November 13th. The shares were sold at an average price of $171.58, for a total value of $261,659.50. Following the completion of the transaction, the executive vice president now owns 57,631 shares in the company, valued at approximately $9,888,326.98. The disclosure for this sale can be found here. Insiders sold a total of 7,050 shares of company stock worth $1,239,673 in the last 90 days. 0.19% of the stock is currently owned by insiders.

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About Amgen

Amgen Inc is a biotechnology company. The Company discovers, develops, manufactures and delivers various human therapeutics. It operates in human therapeutics segment. Its marketed products portfolio includes Neulasta (pegfilgrastim); erythropoiesis-stimulating agents (ESAs), such as Aranesp (darbepoetin alfa) and EPOGEN (epoetin alfa); Sensipar/Mimpara (cinacalcet); XGEVA (denosumab); Prolia (denosumab); NEUPOGEN (filgrastim), and other marketed products, such as KYPROLIS (carfilzomib), Vectibix (panitumumab), Nplate (romiplostim), Repatha (evolocumab), BLINCYTO (blinatumomab), IMLYGIC (talimogene laherparepvec) and Corlanor (ivabradine).

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Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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