Radnor Capital Management LLC Increases Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

by · The Markets Daily

Radnor Capital Management LLC lifted its position in Amgen Inc. (NASDAQ:AMGN – Free Report) by 6.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,495 shares of the medical research company’s stock after purchasing an additional 460 shares during the quarter. Radnor Capital Management LLC’s holdings in Amgen were worth $2,415,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Keynote Financial Services LLC lifted its position in shares of Amgen by 0.6% in the second quarter. Keynote Financial Services LLC now owns 4,898 shares of the medical research company’s stock valued at $1,530,000 after buying an additional 30 shares during the last quarter. Ascent Group LLC increased its stake in Amgen by 0.3% during the 2nd quarter. Ascent Group LLC now owns 10,949 shares of the medical research company’s stock worth $3,421,000 after acquiring an additional 31 shares during the period. RFP Financial Group LLC increased its stake in Amgen by 17.1% during the 1st quarter. RFP Financial Group LLC now owns 219 shares of the medical research company’s stock worth $62,000 after acquiring an additional 32 shares during the period. Hofer & Associates. Inc increased its stake in shares of Amgen by 0.5% in the 2nd quarter. Hofer & Associates. Inc now owns 6,477 shares of the medical research company’s stock valued at $2,024,000 after purchasing an additional 32 shares during the last quarter. Finally, Cadinha & Co. LLC increased its stake in shares of Amgen by 0.6% in the 3rd quarter. Cadinha & Co. LLC now owns 5,209 shares of the medical research company’s stock valued at $1,678,000 after purchasing an additional 32 shares during the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on AMGN shares. Oppenheimer reissued an “outperform” rating and set a $380.00 price objective on shares of Amgen in a report on Wednesday, August 7th. Wells Fargo & Company lowered Amgen from an “overweight” rating to an “equal weight” rating and boosted their target price for the company from $320.00 to $335.00 in a research report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $305.00 price objective (down from $310.00) on shares of Amgen in a report on Wednesday, August 7th. Morgan Stanley cut their target price on Amgen from $310.00 to $303.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 11th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $362.00 target price on shares of Amgen in a research note on Thursday, September 26th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $333.50.

Get Our Latest Research Report on Amgen

Amgen Trading Up 0.8 %

Shares of AMGN stock opened at $319.29 on Wednesday. The stock has a market cap of $171.56 billion, a price-to-earnings ratio of 40.88, a price-to-earnings-growth ratio of 2.81 and a beta of 0.60. The company has a quick ratio of 0.96, a current ratio of 1.32 and a debt-to-equity ratio of 7.55. Amgen Inc. has a fifty-two week low of $260.52 and a fifty-two week high of $346.85. The firm’s 50 day moving average price is $324.12 and its two-hundred day moving average price is $316.64.

Amgen (NASDAQ:AMGN – Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share for the quarter, beating analysts’ consensus estimates of $5.11 by $0.47. The firm had revenue of $8.50 billion for the quarter, compared to analysts’ expectations of $8.50 billion. Amgen had a net margin of 13.00% and a return on equity of 168.35%. Amgen’s revenue was up 23.2% compared to the same quarter last year. During the same period in the previous year, the company posted $4.96 earnings per share. On average, analysts anticipate that Amgen Inc. will post 19.49 EPS for the current year.

Amgen Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, November 18th will be issued a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a yield of 2.82%. The ex-dividend date is Monday, November 18th. Amgen’s dividend payout ratio is presently 115.24%.

Amgen Company Profile

(Free Report)

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.

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