Short Interest in Amgen, Inc. (NASDAQ:AMGN) Drops By 6.7%

Amgen, Inc. (NASDAQ:AMGN) saw a large drop in short interest during the month of June. As of June 15th, there was short interest totalling 9,452,100 shares, a drop of 6.7% from the May 15th total of 10,131,300 shares. Approximately 1.5% of the shares of the company are short sold. Based on an average daily trading volume, of 2,810,000 shares, the short-interest ratio is presently 3.4 days.

In other Amgen news, Director Ronald D. Sugar sold 2,000 shares of the stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $187.58, for a total transaction of $375,160.00. Following the transaction, the director now owns 16,336 shares of the company’s stock, valued at approximately $3,064,306.88. The transaction was disclosed in a document filed with the SEC, which is available at this link. In the last ninety days, insiders have sold 6,000 shares of company stock worth $1,077,980. 0.25% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in AMGN. Oregon Public Employees Retirement Fund boosted its stake in shares of Amgen by 20,103.6% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 31,424,215 shares of the medical research company’s stock worth $161,000 after acquiring an additional 31,268,677 shares in the last quarter. Norges Bank bought a new stake in shares of Amgen during the 4th quarter worth $1,283,248,000. Thoroughbred Financial Services LLC boosted its stake in shares of Amgen by 19,447.3% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 1,805,392 shares of the medical research company’s stock worth $180,539,000 after acquiring an additional 1,796,156 shares in the last quarter. BlackRock Inc. boosted its position in shares of Amgen by 2.0% in the fourth quarter. BlackRock Inc. now owns 46,127,396 shares of the medical research company’s stock worth $8,979,621,000 after buying an additional 906,568 shares during the period. Finally, Ellis Investment Partners LLC boosted its position in shares of Amgen by 18,906.7% in the first quarter. Ellis Investment Partners LLC now owns 605,934 shares of the medical research company’s stock worth $605,000 after buying an additional 602,746 shares during the period. 77.25% of the stock is owned by institutional investors and hedge funds.

NASDAQ AMGN traded down $1.15 on Friday, reaching $178.39. 2,987,154 shares of the stock traded hands, compared to its average volume of 2,648,311. The stock’s fifty day moving average price is $179.58. The company has a debt-to-equity ratio of 2.71, a quick ratio of 2.53 and a current ratio of 2.77. The company has a market capitalization of $108.81 billion, a P/E ratio of 12.39, a price-to-earnings-growth ratio of 2.18 and a beta of 1.16. Amgen has a 12 month low of $166.30 and a 12 month high of $210.19.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Tuesday, April 30th. The medical research company reported $3.56 earnings per share for the quarter, topping the consensus estimate of $3.45 by $0.11. The business had revenue of $5.56 billion during the quarter, compared to analyst estimates of $5.55 billion. Amgen had a return on equity of 71.02% and a net margin of 34.00%. The company’s revenue was up .1% compared to the same quarter last year. During the same period last year, the company posted $3.47 EPS. Research analysts predict that Amgen will post 13.89 earnings per share for the current fiscal year.

A number of brokerages have recently weighed in on AMGN. Mizuho set a $21.00 price target on Neon Therapeutics and gave the stock a “buy” rating in a research report on Monday, July 1st. Cowen reiterated a “hold” rating and set a $103.00 price target on shares of United Therapeutics in a research report on Wednesday, May 1st. Cantor Fitzgerald reiterated a “hold” rating and set a $41.00 price target on shares of Mylan in a research report on Monday, April 1st. Credit Suisse Group began coverage on Regeneron Pharmaceuticals in a research report on Monday, May 20th. They set a “neutral” rating and a $336.00 price target on the stock. Finally, Morgan Stanley set a $70.00 price target on Edison International and gave the stock a “hold” rating in a research report on Monday, July 15th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and eleven have issued a buy rating to the company’s stock. Amgen has an average rating of “Hold” and a consensus price target of $208.10.

Amgen Company Profile

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It offers products for the treatment of oncology/hematology, cardiovascular, inflammation, bone health, and neuroscience. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta, a pegylated protein to treat cancer patients; Prolia to treat postmenopausal women with osteoporosis; Aranesp to treat anemia; Xgeva for skeletal-related events prevention; Sensipar/Mimpara products to treat sHPT in chronic kidney disease; and EPOGEN to treat a lower-than-normal number of red blood cells.

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