Neo Ivy Capital Management Has $2.98 Million Stock Position in Amgen Inc. (NASDAQ:AMGN)

Key Points

• Neo Ivy Capital Management increased its stake in Amgen Inc. by 590.4% in Q1, owning 9,548 shares valued at $2.975 million, making it Amgen's 14th largest holding.
• Amgen's stock decreased by 0.6% to $306.58, with a market capitalization of $164.85 billion and a P/E ratio of 27.97.
• Analysts' ratings on Amgen are mixed, with target prices ranging from $261.00 to $328.00, currently holding an average rating of "Hold" and a consensus target price of $307.27.

Neo Ivy Capital Management lifted its holdings in Amgen Inc. (NASDAQ:AMGN - Free Report) by 590.4% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 9,548 shares of the medical research company's stock after acquiring an additional 8,165 shares during the quarter. Amgen accounts for about 0.9% of Neo Ivy Capital Management's holdings, making the stock its 14th biggest holding. Neo Ivy Capital Management's holdings in Amgen were worth $2,975,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Beck Mack & Oliver LLC increased its holdings in Amgen by 0.7% in the 4th quarter. Beck Mack & Oliver LLC now owns 4,623 shares of the medical research company's stock worth $1,205,000 after acquiring an additional 34 shares in the last quarter. Continuum Advisory LLC grew its stake in Amgen by 0.7% in the fourth quarter. Continuum Advisory LLC now owns 5,154 shares of the medical research company's stock valued at $1,343,000 after purchasing an additional 35 shares during the last quarter. Octavia Wealth Advisors LLC grew its stake in shares of Amgen by 1.5% during the first quarter. Octavia Wealth Advisors LLC now owns 2,435 shares of the medical research company's stock worth $759,000 after acquiring an additional 35 shares during the last quarter. Affinity Capital Advisors LLC lifted its holdings in shares of Amgen by 4.5% during the first quarter. Affinity Capital Advisors LLC now owns 861 shares of the medical research company's stock worth $246,000 after purchasing an additional 37 shares during the period. Finally, Accredited Investors Inc. lifted its holdings in shares of Amgen by 1.7% during the first quarter. Accredited Investors Inc. now owns 2,164 shares of the medical research company's stock worth $674,000 after purchasing an additional 37 shares during the period. 76.50% of the stock is currently owned by institutional investors.

Amgen Trading Down 0.6%

AMGN traded down $1.97 during mid-day trading on Friday, reaching $306.58. The stock had a trading volume of 1,451,093 shares, compared to its average volume of 1,935,961. The stock has a market capitalization of $164.85 billion, a P/E ratio of 27.97, a P/E/G ratio of 2.67 and a beta of 0.49. The company has a debt-to-equity ratio of 8.70, a quick ratio of 0.88 and a current ratio of 1.17. The firm's fifty day simple moving average is $289.39 and its two-hundred day simple moving average is $290.70. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $340.89.

Amgen (NASDAQ:AMGN - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The medical research company reported $4.90 EPS for the quarter, topping the consensus estimate of $4.18 by $0.72. The business had revenue of $8.15 billion for the quarter, compared to the consensus estimate of $8.05 billion. Amgen had a return on equity of 176.11% and a net margin of 17.39%. The firm's revenue was up 9.4% compared to the same quarter last year. During the same quarter last year, the business posted $3.96 EPS. On average, equities analysts predict that Amgen Inc. will post 20.62 EPS for the current year.

Insider Activity

In related news, SVP Rachna Khosla sold 1,500 shares of Amgen stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $289.68, for a total transaction of $434,520.00. Following the completion of the transaction, the senior vice president owned 8,162 shares in the company, valued at approximately $2,364,368.16. This trade represents a 15.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.76% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on AMGN shares. Royal Bank Of Canada reduced their target price on Amgen from $324.00 to $320.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. Wall Street Zen upgraded Amgen from a "buy" rating to a "strong-buy" rating in a report on Sunday, May 18th. Cantor Fitzgerald reissued a "neutral" rating and set a $305.00 target price on shares of Amgen in a research note on Tuesday, June 24th. Piper Sandler reaffirmed an "overweight" rating and issued a $328.00 price target on shares of Amgen in a research report on Friday, June 27th. Finally, Bank of America raised their target price on Amgen from $252.00 to $261.00 and gave the stock an "underperform" rating in a research report on Wednesday. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $307.27.

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.