3Chopt Investment Partners LLC Takes Position in Amgen Inc. (NASDAQ:AMGN)

3Chopt Investment Partners LLC purchased a new stake in Amgen Inc. (NASDAQ:AMGN - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 1,269 shares of the medical research company's stock, valued at approximately $395,000.

Other hedge funds also recently made changes to their positions in the company. First Pacific Financial grew its holdings in Amgen by 304.5% during the 1st quarter. First Pacific Financial now owns 89 shares of the medical research company's stock valued at $28,000 after buying an additional 67 shares in the last quarter. Pinney & Scofield Inc. purchased a new position in Amgen during the fourth quarter valued at approximately $26,000. Ritter Daniher Financial Advisory LLC DE grew its stake in Amgen by 66.2% during the fourth quarter. Ritter Daniher Financial Advisory LLC DE now owns 128 shares of the medical research company's stock valued at $33,000 after acquiring an additional 51 shares in the last quarter. Synergy Investment Management LLC purchased a new position in shares of Amgen during the 4th quarter valued at $34,000. Finally, Atala Financial Inc purchased a new position in shares of Amgen during the 4th quarter valued at $34,000. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Amgen

In other Amgen news, SVP Rachna Khosla sold 1,500 shares of the stock in a transaction that occurred 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 completion of the sale, the senior vice president now owns 8,162 shares in the company, valued at approximately $2,364,368.16. This trade represents a 15.52% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.76% of the stock is currently owned by company insiders.

Amgen Trading Down 0.7%

Shares of AMGN stock opened at $277.13 on Friday. The stock has a market capitalization of $149.02 billion, a PE ratio of 25.29, a P/E/G ratio of 2.51 and a beta of 0.51. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $346.85. The company has a debt-to-equity ratio of 8.70, a current ratio of 1.17 and a quick ratio of 0.88. The business has a 50-day moving average of $281.02 and a 200 day moving average of $286.11.

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

Analysts Set New Price Targets

A number of research analysts have recently commented on AMGN shares. UBS Group restated a "neutral" rating and set a $315.00 price target (down from $319.00) on shares of Amgen in a research report on Friday, May 2nd. Guggenheim assumed coverage on Amgen in a research report on Tuesday, May 20th. They set a "neutral" rating and a $288.00 target price for the company. Johnson Rice set a $294.00 price objective on Amgen in a report on Wednesday, March 5th. Wall Street Zen raised Amgen from a "buy" rating to a "strong-buy" rating in a report on Sunday, May 18th. Finally, Erste Group Bank cut shares of Amgen from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 8th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Amgen has an average rating of "Hold" and an average price target of $307.82.

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.

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