Thurston Springer Miller Herd & Titak Inc. Raises Stake in Amgen Inc. (NASDAQ:AMGN)

Thurston Springer Miller Herd & Titak Inc. increased its stake in Amgen Inc. (NASDAQ:AMGN) by 28.2% during the first quarter, according to its most recent filing with the SEC. The fund owned 9,725 shares of the medical research company’s stock after buying an additional 2,140 shares during the quarter. Thurston Springer Miller Herd & Titak Inc.’s holdings in Amgen were worth $3,030,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Ascent Wealth Partners LLC boosted its holdings in shares of Amgen by 0.7% in the 4th quarter. Ascent Wealth Partners LLC now owns 9,024 shares of the medical research company’s stock worth $2,352,000 after buying an additional 64 shares during the last quarter. ICICI Prudential Asset Management Co Ltd boosted its holdings in shares of Amgen by 242.2% in the 4th quarter. ICICI Prudential Asset Management Co Ltd now owns 23,999 shares of the medical research company’s stock worth $6,255,000 after buying an additional 16,985 shares during the last quarter. Fisher Asset Management LLC boosted its holdings in shares of Amgen by 285.4% in the 4th quarter. Fisher Asset Management LLC now owns 394,489 shares of the medical research company’s stock worth $102,820,000 after buying an additional 292,137 shares during the last quarter. Aire Advisors LLC boosted its holdings in shares of Amgen by 26.3% in the 4th quarter. Aire Advisors LLC now owns 13,280 shares of the medical research company’s stock worth $3,461,000 after buying an additional 2,762 shares during the last quarter. Finally, Beacon Harbor Wealth Advisors Inc. bought a new stake in Amgen in the 4th quarter valued at about $3,531,000. 76.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AMGN has been the topic of a number of research reports. Royal Bank of Canada lowered their price objective on Amgen from $324.00 to $320.00 and set an “outperform” rating on the stock in a research note on Friday, May 2nd. Erste Group Bank cut Amgen from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 8th. Mizuho boosted their price objective on Amgen from $235.00 to $280.00 and gave the company a “neutral” rating in a research note on Wednesday, May 7th. Morgan Stanley restated an “equal weight” rating on shares of Amgen in a research note on Friday, May 2nd. Finally, UBS Group restated a “neutral” rating and issued a $315.00 price objective (down from $319.00) on shares of Amgen in a research note on Friday, May 2nd. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $309.22.

Amgen Stock Down 0.9%

AMGN stock opened at $287.01 on Thursday. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 9.62. The company’s 50 day moving average is $282.39 and its 200 day moving average is $285.31. The stock has a market cap of $154.33 billion, a price-to-earnings ratio of 38.01, a price-to-earnings-growth ratio of 2.63 and a beta of 0.51. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $346.85.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Thursday, May 1st. The medical research company reported $4.90 earnings per share for the quarter, topping the consensus estimate of $4.18 by $0.72. The company had revenue of $8.15 billion for the quarter, compared to analysts’ expectations of $8.05 billion. Amgen had a net margin of 12.24% and a return on equity of 176.32%. Amgen’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period in the prior year, the business earned $3.96 earnings per share. Sell-side analysts predict that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Company 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.