Copperwynd Financial LLC Takes Position in Amgen Inc. (NASDAQ:AMGN)

Copperwynd Financial LLC purchased a new stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 889 shares of the medical research company's stock, valued at approximately $277,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Pinney & Scofield Inc. purchased a new stake in Amgen in the 4th quarter worth approximately $26,000. First Pacific Financial boosted its stake in Amgen by 304.5% in the 1st quarter. First Pacific Financial now owns 89 shares of the medical research company's stock worth $28,000 after purchasing an additional 67 shares during the period. Ritter Daniher Financial Advisory LLC DE boosted its stake in 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 worth $33,000 after purchasing an additional 51 shares during the period. Heck Capital Advisors LLC bought a new position in Amgen in the 4th quarter worth approximately $36,000. Finally, Legacy Investment Solutions LLC boosted its stake in Amgen by 46.9% in the 4th 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 during the period. Hedge funds and other institutional investors own 76.50% of the company's stock.

Insiders Place Their Bets

In other news, SVP Rachna Khosla sold 1,500 shares of the stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $289.68, for a total value of $434,520.00. Following 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.76% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

AMGN has been the subject of several recent analyst reports. Piper Sandler restated an "overweight" rating and issued a $328.00 price target on shares of Amgen in a research note on Friday, June 27th. Cantor Fitzgerald reiterated a "neutral" rating and set a $305.00 target price on shares of Amgen in a research report on Tuesday, June 24th. 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. Morgan Stanley reiterated an "equal weight" rating on shares of Amgen in a research report on Friday, May 2nd. Finally, Guggenheim began coverage on Amgen in a research report on Tuesday, May 20th. They issued a "neutral" rating and a $288.00 price target for the company. 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 company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $307.82.

Amgen Stock Performance

NASDAQ AMGN opened at $294.76 on Friday. The stock's fifty day moving average is $285.90 and its two-hundred day moving average is $289.35. The firm has a market capitalization of $158.50 billion, a P/E ratio of 26.89, a price-to-earnings-growth ratio of 2.66 and a beta of 0.49. The company has a debt-to-equity ratio of 8.70, a quick ratio of 0.88 and a current ratio of 1.17. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week 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, beating the consensus estimate of $4.18 by $0.72. The firm had revenue of $8.15 billion for 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 company's quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.96 EPS. On average, research analysts anticipate that Amgen Inc. will post 20.62 earnings per share 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.

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