Bridgewater Advisors Inc. Makes New Investment in Amgen Inc. (NASDAQ:AMGN)

Bridgewater Advisors Inc. bought a new stake in Amgen Inc. (NASDAQ:AMGN - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,409 shares of the medical research company's stock, valued at approximately $695,000.

Several other large investors have also made changes to their positions in the business. Concord Asset Management LLC VA raised its position in shares of Amgen by 6.4% in the first quarter. Concord Asset Management LLC VA now owns 8,762 shares of the medical research company's stock valued at $2,730,000 after buying an additional 526 shares in the last quarter. Larson Financial Group LLC raised its stake in shares of Amgen by 248.0% during the first quarter. Larson Financial Group LLC now owns 3,616 shares of the medical research company's stock valued at $1,127,000 after acquiring an additional 2,577 shares during the last quarter. Sage Mountain Advisors LLC increased its position in shares of Amgen by 8.0% during the first quarter. Sage Mountain Advisors LLC now owns 4,605 shares of the medical research company's stock valued at $1,435,000 after acquiring an additional 343 shares in the last quarter. Wealthfront Advisers LLC boosted its stake in shares of Amgen by 30.7% during the 1st quarter. Wealthfront Advisers LLC now owns 66,065 shares of the medical research company's stock worth $20,583,000 after acquiring an additional 15,521 shares during the last quarter. Finally, First Business Financial Services Inc. bought a new stake in shares of Amgen in the 1st quarter worth about $214,000. Institutional investors and hedge funds own 76.50% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on AMGN shares. Guggenheim initiated coverage on shares of Amgen in a report on Tuesday, May 20th. They set a "neutral" rating and a $288.00 price target on the stock. Royal Bank Of Canada dropped their price objective on shares of Amgen from $324.00 to $320.00 and set an "outperform" rating on the stock in a research note on Friday, May 2nd. Wall Street Zen upgraded Amgen from a "buy" rating to a "strong-buy" rating in a report on Sunday, May 18th. Cantor Fitzgerald reiterated a "neutral" rating and set a $305.00 price objective on shares of Amgen in a research note on Tuesday, June 24th. Finally, UBS Group reaffirmed a "neutral" rating and set a $315.00 price target (down previously from $319.00) on shares of Amgen in a research report on Friday, May 2nd. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Amgen currently has an average rating of "Hold" and a consensus price target of $307.82.

Amgen Stock Down 0.6%

Amgen stock traded down $1.67 on Friday, hitting $296.58. 564,306 shares of the stock traded hands, compared to its average volume of 2,831,180. The business's fifty day simple moving average is $285.32 and its 200 day simple moving average is $288.91. The firm has a market cap of $159.47 billion, a P/E ratio of 27.08, a price-to-earnings-growth ratio of 2.70 and a beta of 0.49. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $346.85. The company has a current ratio of 1.17, a quick ratio of 0.88 and a debt-to-equity ratio of 8.70.

Amgen (NASDAQ:AMGN - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The medical research company reported $4.90 EPS for the quarter, beating the consensus estimate of $4.18 by $0.72. The company had revenue of $8.15 billion for the quarter, compared to analyst estimates of $8.05 billion. Amgen had a return on equity of 176.11% and a net margin of 17.39%. Amgen's quarterly revenue was up 9.4% compared to the same quarter last year. During the same period last year, the company earned $3.96 earnings per share. As a group, sell-side analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current year.

Insider Transactions at Amgen

In other Amgen 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 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 $2,364,368.16. This represents a 15.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.76% of the stock is owned by company insiders.

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.