Concurrent Investment Advisors LLC Purchases 1,978 Shares of Amgen Inc. (NASDAQ:AMGN)

Concurrent Investment Advisors LLC raised its position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 10.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 21,480 shares of the medical research company's stock after buying an additional 1,978 shares during the period. Concurrent Investment Advisors LLC's holdings in Amgen were worth $6,692,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of AMGN. First Pacific Financial raised its position in Amgen by 304.5% in the 1st quarter. First Pacific Financial now owns 89 shares of the medical research company's stock valued at $28,000 after purchasing an additional 67 shares during the last quarter. Pinney & Scofield Inc. acquired a new stake in shares of Amgen in the fourth quarter valued at $26,000. Ritter Daniher Financial Advisory LLC DE raised its holdings 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 valued at $33,000 after buying an additional 51 shares during the last quarter. Atala Financial Inc acquired a new position in Amgen during the 4th quarter worth about $34,000. Finally, Global Wealth Strategies & Associates grew its holdings in Amgen by 1,388.9% during the 1st quarter. Global Wealth Strategies & Associates now owns 134 shares of the medical research company's stock worth $42,000 after acquiring an additional 125 shares during the last quarter. Institutional investors and hedge funds own 76.50% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on AMGN. UBS Group reiterated a "neutral" rating and set a $315.00 target price (down from $319.00) on shares of Amgen in a research report on Friday, May 2nd. Royal Bank Of Canada reduced 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. William Blair reiterated an "outperform" rating on shares of Amgen in a research report on Tuesday, June 24th. Guggenheim began coverage on Amgen in a research report on Tuesday, May 20th. They set a "neutral" rating and a $288.00 target price for the company. Finally, Mizuho upped their price target on Amgen from $235.00 to $280.00 and gave the company a "neutral" rating in a research note on Wednesday, May 7th. Two 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 given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $307.82.

Insider Buying and Selling at Amgen

In related news, SVP Rachna Khosla sold 1,500 shares of the stock in a transaction that occurred 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 directly owned 8,162 shares of the company's stock, valued at approximately $2,364,368.16. This represents a 15.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.76% of the stock is owned by company insiders.

Amgen Trading Up 0.5%

Shares of NASDAQ AMGN traded up $1.40 during midday trading on Friday, reaching $298.25. 1,518,529 shares of the stock were exchanged, compared to its average volume of 2,849,124. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $346.85. The company has a market capitalization of $160.37 billion, a price-to-earnings 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 current ratio of 1.17 and a quick ratio of 0.88. The business has a 50-day simple moving average of $282.47 and a two-hundred day simple moving average of $286.99.

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, topping the consensus estimate of $4.18 by $0.72. Amgen had a return on equity of 176.11% and a net margin of 17.39%. The business had revenue of $8.15 billion for the quarter, compared to the consensus estimate of $8.05 billion. During the same quarter last year, the business posted $3.96 EPS. The firm's revenue was up 9.4% compared to the same quarter last year. As a group, equities research analysts expect that Amgen Inc. will post 20.62 EPS for the current year.

About Amgen

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.