Amgen Inc. (NASDAQ:AMGN) Shares Acquired by Miracle Mile Advisors LLC

Miracle Mile Advisors LLC grew its position in Amgen Inc. (NASDAQ:AMGN - Free Report) by 46.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,791 shares of the medical research company's stock after purchasing an additional 2,775 shares during the period. Miracle Mile Advisors LLC's holdings in Amgen were worth $2,739,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Centricity Wealth Management LLC acquired a new position in shares of Amgen in the fourth quarter valued at about $25,000. Pinney & Scofield Inc. acquired a new stake in Amgen during the fourth quarter worth about $26,000. Ritter Daniher Financial Advisory LLC DE grew its holdings 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 worth $33,000 after acquiring an additional 51 shares during the period. Synergy Investment Management LLC acquired a new stake in Amgen during the fourth quarter worth about $34,000. Finally, Atala Financial Inc acquired a new stake in Amgen during the fourth quarter worth about $34,000. 76.50% of the stock is owned by institutional investors and hedge funds.

Amgen Stock Performance

NASDAQ AMGN opened at $290.33 on Monday. The company has a market cap of $156.11 billion, a PE ratio of 38.45, a price-to-earnings-growth ratio of 2.63 and a beta of 0.51. The stock's 50 day simple moving average is $281.57 and its 200-day simple moving average is $285.39. 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 9.62, a current ratio of 1.26 and a quick ratio of 0.95.

Amgen (NASDAQ:AMGN - Get Free Report) last released its earnings results on Thursday, May 1st. The medical research company reported $4.90 earnings per share for the quarter, beating the consensus estimate of $4.18 by $0.72. Amgen had a return on equity of 176.32% and a net margin of 12.24%. The business had revenue of $8.15 billion for the quarter, compared to the consensus estimate of $8.05 billion. During the same quarter last year, the business posted $3.96 earnings per share. The business's quarterly revenue was up 9.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Wall Street Analyst Weigh In

AMGN has been the topic of several analyst reports. Guggenheim initiated coverage on Amgen in a report on Tuesday, May 20th. They set a "neutral" rating and a $288.00 target price on the stock. Morgan Stanley reaffirmed an "equal weight" rating on shares of Amgen in a report on Friday, May 2nd. Erste Group Bank lowered Amgen from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 8th. Bank of America raised their target price on Amgen from $275.00 to $294.00 and gave the stock an "underperform" rating in a report on Wednesday, March 5th. Finally, Johnson Rice set a $294.00 price objective on Amgen in a report on Wednesday, March 5th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, nine have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $309.22.

Insider Buying and Selling

In related news, SVP Rachna Khosla sold 1,500 shares of Amgen stock in a transaction that occurred 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 transaction, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.76% of the stock is currently owned by company insiders.

Amgen 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.

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