Cerity Partners LLC Buys 16,909 Shares of Amgen Inc. (NASDAQ:AMGN)

Cerity Partners LLC lifted its stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 4.3% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 406,047 shares of the medical research company's stock after purchasing an additional 16,909 shares during the period. Cerity Partners LLC owned about 0.08% of Amgen worth $126,504,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the company. KPP Advisory Services LLC grew its stake in Amgen by 87.1% during the 1st quarter. KPP Advisory Services LLC now owns 5,833 shares of the medical research company's stock worth $1,817,000 after buying an additional 2,716 shares during the last quarter. Advisor Resource Council acquired a new stake in shares of Amgen in the first quarter valued at approximately $1,331,000. DLK Investment Management LLC grew its holdings in Amgen by 7.3% in the 1st quarter. DLK Investment Management LLC now owns 20,491 shares of the medical research company's stock worth $6,384,000 after buying an additional 1,387 shares in the last quarter. Aire Advisors LLC boosted its position in Amgen by 26.3% during the 4th quarter. Aire Advisors LLC now owns 13,280 shares of the medical research company's stock worth $3,461,000 after acquiring an additional 2,762 shares during the period. Finally, Mariner LLC raised its stake in shares of Amgen by 2.2% during the fourth quarter. Mariner LLC now owns 914,380 shares of the medical research company's stock valued at $238,316,000 after purchasing an additional 19,250 shares in the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AMGN has been the topic of several recent analyst reports. Erste Group Bank cut Amgen from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 8th. Cantor Fitzgerald reiterated a "neutral" rating and issued a $305.00 price target on shares of Amgen in a research report on Tuesday, June 24th. UBS Group reissued a "neutral" rating and issued a $315.00 price target (down from $319.00) on shares of Amgen in a report on Friday, May 2nd. Mizuho lifted their price objective on shares of Amgen from $235.00 to $280.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 7th. Finally, Royal Bank Of Canada dropped their target price 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. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $307.82.

Insider Activity at Amgen

In other news, SVP Rachna Khosla sold 1,500 shares of the stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $289.68, for a total value of $434,520.00. Following the completion of the transaction, the senior vice president owned 8,162 shares in the company, valued at approximately $2,364,368.16. This represents a 15.52% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.76% of the company's stock.

Amgen Stock Performance

NASDAQ:AMGN traded down $5.10 during mid-day trading on Friday, hitting $295.27. 1,619,752 shares of the company's stock traded hands, compared to its average volume of 2,845,152. The company has a current ratio of 1.17, a quick ratio of 0.88 and a debt-to-equity ratio of 8.70. The firm has a 50 day moving average of $283.28 and a two-hundred day moving average of $287.76. The firm has a market capitalization of $158.77 billion, a price-to-earnings ratio of 26.94, a price-to-earnings-growth ratio of 2.72 and a beta of 0.49. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $346.85.

Amgen (NASDAQ:AMGN - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The medical research company reported $4.90 earnings per share (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 for the quarter, compared to the consensus estimate of $8.05 billion. During the same quarter in the previous year, the firm posted $3.96 EPS. The business's revenue was up 9.4% compared to the same quarter last year. On average, equities analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

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.