Oxbow Advisors LLC Grows Position in Amgen Inc. (NASDAQ:AMGN)

Oxbow Advisors LLC increased its stake in Amgen Inc. (NASDAQ:AMGN - Free Report) by 868.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,932 shares of the medical research company's stock after buying an additional 9,803 shares during the quarter. Oxbow Advisors LLC's holdings in Amgen were worth $3,406,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. First Pacific Financial raised its holdings in shares of Amgen by 304.5% in the first quarter. First Pacific Financial now owns 89 shares of the medical research company's stock valued at $28,000 after acquiring an additional 67 shares in the last quarter. Pinney & Scofield Inc. bought a new stake in shares of Amgen in the fourth quarter valued at about $26,000. Ritter Daniher Financial Advisory LLC DE raised its holdings 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 acquiring an additional 51 shares in the last quarter. Atala Financial Inc bought a new stake in shares of Amgen in the fourth quarter valued at about $34,000. Finally, Global Wealth Strategies & Associates raised its holdings in shares of 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. 76.50% of the stock is currently owned by institutional investors.

Amgen Price Performance

Shares of AMGN stock traded down $5.10 during trading hours on Friday, hitting $295.27. 1,619,752 shares of the company's stock were exchanged, compared to its average volume of 2,847,778. The company has a quick ratio of 0.88, a current ratio of 1.17 and a debt-to-equity ratio of 8.70. The firm has a market cap of $158.77 billion, a P/E ratio of 26.94, a P/E/G ratio of 2.67 and a beta of 0.49. The firm has a 50 day moving average of $283.56 and a two-hundred day moving average of $288.13. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $346.85.

Amgen (NASDAQ:AMGN - Get Free Report) last announced its earnings results on Thursday, May 1st. The medical research company reported $4.90 earnings per share for the quarter, topping the consensus estimate of $4.18 by $0.72. The business had revenue of $8.15 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the prior year, the company posted $3.96 EPS. Sell-side analysts forecast that Amgen Inc. will post 20.62 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have issued reports on AMGN shares. Erste Group Bank lowered Amgen from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 8th. Piper Sandler reiterated an "overweight" rating and issued a $328.00 target price on shares of Amgen in a research note on Friday, June 27th. Mizuho lifted their target price on Amgen from $235.00 to $280.00 and gave the company a "neutral" rating in a research note on Wednesday, May 7th. Guggenheim started coverage on Amgen in a research note on Tuesday, May 20th. They issued a "neutral" rating and a $288.00 target price on the stock. Finally, Morgan Stanley restated an "equal weight" rating on shares of Amgen in a research note on Friday, May 2nd. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $307.82.

Insider Activity at Amgen

In related news, SVP Rachna Khosla sold 1,500 shares of the business's 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 completion of the sale, the senior vice president directly owned 8,162 shares in the company, valued at approximately $2,364,368.16. The trade was a 15.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.76% of the company's stock.

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.