Jackson Wealth Management LLC boosted its holdings in Amgen Inc. (NASDAQ:AMGN - Free Report) by 49.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,474 shares of the medical research company's stock after buying an additional 2,150 shares during the quarter. Jackson Wealth Management LLC's holdings in Amgen were worth $2,017,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in AMGN. Brighton Jones LLC boosted its stake in shares of Amgen by 23.5% during the 4th quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company's stock valued at $7,159,000 after buying an additional 5,226 shares during the period. Proficio Capital Partners LLC boosted its stake in shares of Amgen by 35.0% during the 4th quarter. Proficio Capital Partners LLC now owns 1,806 shares of the medical research company's stock valued at $471,000 after buying an additional 468 shares during the period. Destination Wealth Management acquired a new stake in shares of Amgen during the 4th quarter valued at $386,000. Andra AP fonden boosted its stake in shares of Amgen by 44.3% during the 4th quarter. Andra AP fonden now owns 40,400 shares of the medical research company's stock valued at $10,530,000 after buying an additional 12,400 shares during the period. Finally, Mesirow Financial Investment Management Inc. boosted its stake in shares of Amgen by 1.5% during the 4th quarter. Mesirow Financial Investment Management Inc. now owns 14,087 shares of the medical research company's stock valued at $3,672,000 after buying an additional 205 shares during the period. Institutional investors and hedge funds own 76.50% of the company's stock.
Wall Street Analyst Weigh In
A number of brokerages have issued reports on AMGN. UBS Group reissued a "neutral" rating and set a $315.00 target price (down previously from $319.00) on shares of Amgen in a research note on Friday, May 2nd. William Blair reissued an "outperform" rating on shares of Amgen in a research note on Tuesday, June 24th. Cantor Fitzgerald reissued a "neutral" rating and set a $305.00 target price on shares of Amgen in a research note on Tuesday, June 24th. Royal Bank Of Canada cut their price target on shares of Amgen from $324.00 to $320.00 and set an "outperform" rating on the stock in a report on Friday, May 2nd. 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 given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $307.82.
Get Our Latest Analysis on AMGN
Insiders Place Their Bets
In related news, SVP Rachna Khosla sold 1,500 shares of the company's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $289.68, for a total value of $434,520.00. Following the sale, the senior vice president owned 8,162 shares of the company's stock, valued at $2,364,368.16. The trade was a 15.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.76% of the stock is currently owned by insiders.
Amgen Stock Up 0.5%
Shares of AMGN opened at $298.25 on Friday. The company has a 50-day simple moving average of $282.47 and a 200-day simple moving average of $286.99. The firm has a market capitalization of $160.37 billion, a P/E ratio of 27.21, a P/E/G ratio of 2.70 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. 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, beating analysts' consensus estimates of $4.18 by $0.72. The business had revenue of $8.15 billion during the quarter, compared to analyst estimates of $8.05 billion. Amgen had a net margin of 17.39% and a return on equity of 176.11%. The firm's revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.96 earnings per share. On average, equities research analysts expect that Amgen Inc. will post 20.62 earnings per share for the current year.
About Amgen
(
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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