Commerzbank Aktiengesellschaft FI Purchases 51,458 Shares of Amgen Inc. (NASDAQ:AMGN)

Commerzbank Aktiengesellschaft FI increased its stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 18.5% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 329,230 shares of the medical research company's stock after purchasing an additional 51,458 shares during the period. Amgen makes up 2.4% of Commerzbank Aktiengesellschaft FI's investment portfolio, making the stock its 13th largest holding. Commerzbank Aktiengesellschaft FI owned 0.06% of Amgen worth $102,572,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in AMGN. Pinney & Scofield Inc. purchased a new stake in Amgen during the fourth quarter valued at approximately $26,000. First Pacific Financial increased its stake in shares of Amgen by 304.5% in the first quarter. First Pacific Financial now owns 89 shares of the medical research company's stock worth $28,000 after purchasing an additional 67 shares in the last quarter. Ritter Daniher Financial Advisory LLC DE increased its stake in shares of 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 worth $33,000 after purchasing an additional 51 shares in the last quarter. Heck Capital Advisors LLC purchased a new stake in shares of Amgen in the fourth quarter worth $36,000. Finally, Legacy Investment Solutions LLC increased its stake in shares of Amgen by 46.9% in the fourth quarter. Legacy Investment Solutions LLC now owns 141 shares of the medical research company's stock worth $37,000 after purchasing an additional 45 shares in the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, SVP Rachna Khosla sold 1,500 shares of the business's stock in a transaction on Thursday, June 5th. The stock was 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 owned 8,162 shares in the company, 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 link. Corporate insiders own 0.76% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Piper Sandler reissued an "overweight" rating and issued a $328.00 price objective on shares of Amgen in a research note on Friday, June 27th. Morgan Stanley restated an "equal weight" rating on shares of Amgen in a research report on Friday, May 2nd. Wall Street Zen upgraded shares of Amgen from a "buy" rating to a "strong-buy" rating in a research report on Sunday, May 18th. Erste Group Bank lowered shares of Amgen from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 8th. Finally, Guggenheim initiated coverage on shares of Amgen in a research report on Tuesday, May 20th. They set a "neutral" rating and a $288.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Amgen has an average rating of "Hold" and an average target price of $307.82.

Amgen Trading Up 2.2%

Shares of AMGN stock opened at $299.02 on Thursday. The company has a quick ratio of 0.88, a current ratio of 1.17 and a debt-to-equity ratio of 8.70. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $346.85. The stock has a market capitalization of $160.79 billion, a P/E ratio of 27.28, a P/E/G ratio of 2.64 and a beta of 0.49. The stock has a 50-day simple moving average of $284.80 and a 200 day simple moving average of $288.65.

Amgen (NASDAQ:AMGN - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The medical research company reported $4.90 earnings per share for the quarter, topping analysts' consensus estimates of $4.18 by $0.72. The company had revenue of $8.15 billion during the quarter, compared to the consensus estimate of $8.05 billion. Amgen had a return on equity of 176.11% and a net margin of 17.39%. The business's quarterly revenue was up 9.4% on a year-over-year basis. During the same period last year, the business earned $3.96 EPS. On average, sell-side analysts expect 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.

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