Amgen Inc. (NASDAQ:AMGN) Position Raised by Zurcher Kantonalbank Zurich Cantonalbank

Key Points

• Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Amgen Inc. by 10.4%, acquiring 50,613 shares to hold a total of 535,118 shares valued at $166.7 million.
• Wall Street analysts have mixed ratings on Amgen, with a consensus target price of $307.27, indicating a predominately Hold rating from investors.
• Amgen reported earnings of $4.90 per share for the quarter, surpassing estimates, and has a market cap of approximately $164.85 billion.

Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 10.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 535,118 shares of the medical research company's stock after purchasing an additional 50,613 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned 0.10% of Amgen worth $166,716,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Geode Capital Management LLC raised its holdings in Amgen by 2.9% in the fourth quarter. Geode Capital Management LLC now owns 12,475,032 shares of the medical research company's stock valued at $3,245,881,000 after buying an additional 352,143 shares during the period. Capital International Investors raised its holdings in Amgen by 40.1% in the fourth quarter. Capital International Investors now owns 12,212,065 shares of the medical research company's stock valued at $3,182,843,000 after buying an additional 3,495,503 shares during the period. Capital World Investors raised its holdings in Amgen by 1,292.0% in the fourth quarter. Capital World Investors now owns 6,495,710 shares of the medical research company's stock valued at $1,693,042,000 after buying an additional 6,029,058 shares during the period. Northern Trust Corp raised its holdings in Amgen by 15.8% in the fourth quarter. Northern Trust Corp now owns 6,431,029 shares of the medical research company's stock valued at $1,676,183,000 after buying an additional 875,254 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Amgen by 15.4% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,128,328 shares of the medical research company's stock valued at $1,336,647,000 after buying an additional 685,785 shares during the period. 76.50% of the stock is owned by institutional investors and hedge funds.

Amgen Stock Performance

Amgen stock traded down $1.87 during mid-day trading on Wednesday, reaching $301.69. The company's stock had a trading volume of 510,871 shares, compared to its average volume of 2,910,395. The firm has a market cap of $162.22 billion, a price-to-earnings ratio of 27.56, a PEG ratio of 2.61 and a beta of 0.49. The business has a 50 day moving average price of $290.47 and a 200-day moving average price of $291.42. The company has a current ratio of 1.17, a quick ratio of 0.88 and a debt-to-equity ratio of 8.70. Amgen Inc. has a twelve month low of $253.30 and a twelve month high of $340.89.

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

Analyst Ratings Changes

Several research analysts recently commented on the stock. Citigroup raised their price target on shares of Amgen from $300.00 to $305.00 and gave the company a "neutral" rating in a report on Tuesday, July 22nd. UBS Group raised their price target on shares of Amgen from $315.00 to $326.00 and gave the company a "neutral" rating in a report on Monday, July 21st. Wall Street Zen raised shares of Amgen from a "buy" rating to a "strong-buy" rating in a research report on Sunday, May 18th. Bank of America increased their price objective on shares of Amgen from $252.00 to $261.00 and gave the company an "underperform" rating in a research report on Wednesday, July 23rd. Finally, Erste Group Bank downgraded shares of Amgen from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 8th. 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 data from MarketBeat, Amgen has an average rating of "Hold" and an average price target of $307.27.

Insider Transactions at Amgen

In other Amgen news, SVP Rachna Khosla sold 1,500 shares of the firm's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $289.68, for a total value of $434,520.00. Following the sale, the senior vice president directly 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 filing with the SEC, which can be accessed through this link. Insiders own 0.69% of the company's stock.

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.