Amgen, Inc. (NASDAQ:AMGN) Shares Bought by Bank of Nova Scotia

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Bank of Nova Scotia boosted its stake in Amgen, Inc. (NASDAQ:AMGN) by 234.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 433,450 shares of the medical research company’s stock after acquiring an additional 303,743 shares during the period. Bank of Nova Scotia owned 0.07% of Amgen worth $80,011,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of AMGN. Pillar Pacific Capital Management LLC increased its stake in Amgen by 0.5% during the second quarter. Pillar Pacific Capital Management LLC now owns 56,671 shares of the medical research company’s stock valued at $10,461,000 after purchasing an additional 254 shares during the last quarter. Advisors Capital Management LLC increased its stake in Amgen by 5.8% during the second quarter. Advisors Capital Management LLC now owns 4,737 shares of the medical research company’s stock valued at $874,000 after purchasing an additional 261 shares during the last quarter. Highland Capital Management LLC increased its stake in Amgen by 1.0% during the second quarter. Highland Capital Management LLC now owns 27,457 shares of the medical research company’s stock valued at $5,068,000 after purchasing an additional 262 shares during the last quarter. Mutual Advisors LLC increased its stake in Amgen by 5.8% during the second quarter. Mutual Advisors LLC now owns 4,814 shares of the medical research company’s stock valued at $889,000 after purchasing an additional 265 shares during the last quarter. Finally, Reilly Herbert Faulkner III increased its stake in Amgen by 0.9% during the second quarter. Reilly Herbert Faulkner III now owns 29,545 shares of the medical research company’s stock valued at $5,454,000 after purchasing an additional 268 shares during the last quarter. 82.48% of the stock is currently owned by hedge funds and other institutional investors.

Several analysts have weighed in on AMGN shares. Royal Bank of Canada reiterated a “neutral” rating and set a $193.00 target price on shares of Amgen in a research note on Monday, September 10th. Cann reiterated a “buy” rating and set a $224.00 target price on shares of Amgen in a research note on Monday, October 1st. Oppenheimer reiterated a “buy” rating and set a $224.00 target price on shares of Amgen in a research note on Tuesday, August 28th. Jefferies Financial Group set a $220.00 target price on shares of Amgen and gave the company a “buy” rating in a research note on Wednesday, September 12th. Finally, Mizuho reiterated a “buy” rating and set a $200.00 target price on shares of Amgen in a research note on Friday, July 27th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eleven have assigned a buy rating to the stock. Amgen currently has an average rating of “Hold” and a consensus price target of $204.90.

Shares of Amgen stock traded up $3.54 during trading on Friday, hitting $197.39. 2,784,524 shares of the stock were exchanged, compared to its average volume of 3,571,043. The firm has a market capitalization of $134.17 billion, a P/E ratio of 15.69, a P/E/G ratio of 2.02 and a beta of 1.40. The company has a debt-to-equity ratio of 2.03, a quick ratio of 3.12 and a current ratio of 3.39. Amgen, Inc. has a 12 month low of $163.31 and a 12 month high of $210.19.

Amgen (NASDAQ:AMGN) last announced its earnings results on Thursday, July 26th. The medical research company reported $3.83 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.52 by $0.31. The firm had revenue of $6.06 billion during the quarter, compared to analyst estimates of $5.73 billion. Amgen had a net margin of 10.19% and a return on equity of 43.18%. Amgen’s revenue was up 4.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.27 EPS. As a group, sell-side analysts forecast that Amgen, Inc. will post 13.96 earnings per share for the current year.

In related news, EVP Sean E. Harper sold 1,525 shares of the stock in a transaction dated Monday, July 16th. The shares were sold at an average price of $195.71, for a total value of $298,457.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.27% of the company’s stock.

About Amgen

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It offers products for the treatment of oncology/hematology, cardiovascular, inflammation, bone health, nephrology, and neuroscience. The company's products include Evenity to treat osteoporosis in postmenopausal women; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Repatha to treat coronary diseases; Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Parsabiv to treat secondary hyperparathyroidism (sHPT); and Aimovig for the prevention of migraine.

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Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

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