Advisors Preferred LLC acquired a new position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 4,700 shares of the medical research company's stock, valued at approximately $1,443,000.
A number of other institutional investors have also recently added to or reduced their stakes in AMGN. First Pacific Financial grew its stake in Amgen by 304.5% during the first quarter. First Pacific Financial now owns 89 shares of the medical research company's stock worth $28,000 after buying an additional 67 shares during the period. Pinney & Scofield Inc. purchased a new position in shares of Amgen in the fourth quarter valued at $26,000. Ritter Daniher Financial Advisory LLC DE boosted its stake in shares of Amgen by 66.2% in 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 purchasing an additional 51 shares during the period. Global Wealth Strategies & Associates raised its holdings in Amgen by 1,388.9% in the first quarter. Global Wealth Strategies & Associates now owns 134 shares of the medical research company's stock valued at $42,000 after acquiring an additional 125 shares in the last quarter. Finally, Heck Capital Advisors LLC acquired a new stake in Amgen in the fourth quarter valued at $36,000. Hedge funds and other institutional investors own 76.50% of the company's stock.
Analysts Set New Price Targets
A number of analysts recently weighed in on AMGN shares. Morgan Stanley reaffirmed an "equal weight" rating on shares of Amgen in a report on Friday, May 2nd. UBS Group raised their target price on shares of Amgen from $315.00 to $326.00 and gave the stock a "neutral" rating in a report on Monday. Citigroup raised their target price on shares of Amgen from $300.00 to $305.00 and gave the stock a "neutral" rating in a report on Tuesday. Guggenheim began coverage on shares of Amgen in a report on Tuesday, May 20th. They issued a "neutral" rating and a $288.00 target price for the company. Finally, Wall Street Zen upgraded shares of Amgen from a "buy" rating to a "strong-buy" rating in a report on Sunday, May 18th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $308.77.
Check Out Our Latest Analysis on Amgen
Insider Activity
In related news, SVP Rachna Khosla sold 1,500 shares of Amgen stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $289.68, for a total transaction of $434,520.00. Following the completion of the sale, the senior vice president owned 8,162 shares of the company's stock, 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 Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.69% of the company's stock.
Amgen Price Performance
Amgen stock opened at $305.69 on Wednesday. The stock has a 50-day moving average price of $285.90 and a two-hundred day moving average price of $289.56. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $346.85. The company has a market capitalization of $164.37 billion, a PE ratio of 27.89, a P/E/G ratio of 2.67 and a beta of 0.49. 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 (NASDAQ:AMGN - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The medical research company reported $4.90 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.18 by $0.72. The firm had revenue of $8.15 billion for 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 company's revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.96 EPS. Analysts expect that Amgen Inc. will post 20.62 EPS for the current year.
Amgen Profile
(
Free Report)
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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