MJP Associates Inc. ADV Grows Position in Amgen Inc. (NASDAQ:AMGN)

MJP Associates Inc. ADV increased its holdings in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 25.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,513 shares of the medical research company's stock after acquiring an additional 912 shares during the quarter. MJP Associates Inc. ADV's holdings in Amgen were worth $1,406,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Pinney & Scofield Inc. bought a new position in Amgen in the fourth quarter valued at approximately $26,000. First Pacific Financial lifted its position in shares of Amgen by 304.5% during the 1st 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 last quarter. Ritter Daniher Financial Advisory LLC DE boosted its stake in 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 buying an additional 51 shares in the last quarter. Atala Financial Inc bought a new position in Amgen in the fourth quarter valued at about $34,000. Finally, Heck Capital Advisors LLC bought a new position in Amgen in the fourth quarter valued at about $36,000. Institutional investors and hedge funds own 76.50% of the company's stock.

Analyst Upgrades and Downgrades

AMGN has been the topic of a number of research analyst reports. Morgan Stanley restated an "equal weight" rating on shares of Amgen in a research note on Friday, May 2nd. William Blair restated an "outperform" rating on shares of Amgen in a research report on Tuesday, June 24th. Royal Bank Of Canada lowered their price target on shares of Amgen from $324.00 to $320.00 and set an "outperform" rating for the company in a report on Friday, May 2nd. Piper Sandler reiterated an "overweight" rating and issued a $328.00 price target on shares of Amgen in a research note on Friday, June 27th. Finally, Guggenheim initiated coverage on Amgen in a research report on Tuesday, May 20th. They set a "neutral" rating and a $288.00 price objective on the stock. 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 company. Based on data from MarketBeat.com, Amgen currently has an average rating of "Hold" and an average price target of $307.82.

Amgen Trading Down 1.7%

Shares of AMGN stock traded down $5.10 during mid-day trading on Friday, hitting $295.27. The company's stock had a trading volume of 1,619,752 shares, compared to its average volume of 2,845,152. The company has a market cap of $158.77 billion, a PE ratio of 26.94, a P/E/G ratio of 2.72 and a beta of 0.49. The company has a debt-to-equity ratio of 8.70, a quick ratio of 0.88 and a current ratio of 1.17. The company's fifty day simple moving average is $283.28 and its 200-day simple moving average is $287.76. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $346.85.

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

Insider Transactions at Amgen

In related news, SVP Rachna Khosla sold 1,500 shares of the stock in a transaction 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 directly owned 8,162 shares of the company's stock, valued at approximately $2,364,368.16. This 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. Company insiders own 0.76% of the company's stock.

Amgen Company 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.