Birch Capital Management LLC Has $7.41 Million Stock Position in Amgen Inc. (NASDAQ:AMGN)

Birch Capital Management LLC lifted its stake in Amgen Inc. (NASDAQ:AMGN - Free Report) by 9.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 23,788 shares of the medical research company's stock after purchasing an additional 2,045 shares during the quarter. Amgen accounts for 3.9% of Birch Capital Management LLC's portfolio, making the stock its 6th largest position. Birch Capital Management LLC's holdings in Amgen were worth $7,411,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Centricity Wealth Management LLC purchased a new position in Amgen in the fourth quarter valued at about $25,000. Pinney & Scofield Inc. acquired a new stake in shares of Amgen during the 4th quarter valued at about $26,000. Ritter Daniher Financial Advisory LLC DE grew its stake in shares of Amgen by 66.2% in the 4th 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. Synergy Investment Management LLC acquired a new position in Amgen in the fourth quarter worth approximately $34,000. Finally, Atala Financial Inc bought a new position in Amgen during the fourth quarter valued at approximately $34,000. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, SVP Rachna Khosla sold 1,500 shares of the firm's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $289.68, for a total transaction of $434,520.00. Following the transaction, the senior vice president now directly owns 8,162 shares of the company's stock, valued at $2,364,368.16. This trade represents a 15.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.76% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently commented on AMGN shares. Piper Sandler dropped their price target on shares of Amgen from $329.00 to $328.00 and set an "overweight" rating on the stock in a research note on Friday, May 16th. Mizuho upped their price objective on shares of Amgen from $235.00 to $280.00 and gave the stock a "neutral" rating in a report on Wednesday, May 7th. Johnson Rice set a $294.00 target price on Amgen in a report on Wednesday, March 5th. Cantor Fitzgerald initiated coverage on Amgen in a research report on Tuesday, April 22nd. They issued a "neutral" rating and a $305.00 price target for the company. Finally, Royal Bank of Canada lowered their price objective on Amgen from $324.00 to $320.00 and set an "outperform" rating on the stock in a report on Friday, May 2nd. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $309.22.

Amgen Trading Down 0.7%

AMGN traded down $2.07 during trading on Friday, reaching $295.22. 2,191,182 shares of the stock traded hands, compared to its average volume of 2,816,229. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 9.62. The stock's 50-day moving average is $281.03 and its 200 day moving average is $285.48. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $346.85. The stock has a market capitalization of $158.74 billion, a PE ratio of 39.10, a P/E/G ratio of 2.63 and a beta of 0.51.

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 (EPS) for the quarter, beating analysts' consensus estimates of $4.18 by $0.72. Amgen had a net margin of 12.24% and a return on equity of 176.32%. The company had revenue of $8.15 billion for the quarter, compared to the consensus estimate of $8.05 billion. During the same quarter in the previous year, the company earned $3.96 EPS. Amgen's quarterly revenue was up 9.4% compared to the same quarter last year. Equities analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current year.

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.