Crestmont Private Wealth LLC Makes New Investment in Amgen Inc. (NASDAQ:AMGN)

Crestmont Private Wealth 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 13F filing with the Securities & Exchange Commission. The institutional investor purchased 912 shares of the medical research company's stock, valued at approximately $284,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Centricity Wealth Management LLC purchased a new position in Amgen during the 4th quarter valued at about $25,000. Pinney & Scofield Inc. bought a new position in shares of Amgen in the fourth quarter worth approximately $26,000. Ritter Daniher Financial Advisory LLC DE grew its position in Amgen by 66.2% during 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 acquiring an additional 51 shares during the last quarter. Synergy Investment Management LLC bought a new position in Amgen during the fourth quarter valued at approximately $34,000. Finally, Atala Financial Inc purchased a new stake in shares of Amgen during the fourth quarter valued at approximately $34,000. 76.50% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

AMGN has been the subject of a number of analyst reports. Guggenheim began coverage on Amgen in a research note on Tuesday, May 20th. They set a "neutral" rating and a $288.00 price objective for the company. Morgan Stanley reissued an "equal weight" rating on shares of Amgen in a research report on Friday, May 2nd. Mizuho raised their price objective on Amgen from $235.00 to $280.00 and gave the company a "neutral" rating in a research report on Wednesday, May 7th. Cantor Fitzgerald began coverage on Amgen in a research report on Tuesday, April 22nd. They set a "neutral" rating and a $305.00 price objective for the company. Finally, Citigroup reissued a "neutral" rating on shares of Amgen in a research report on Wednesday, February 5th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Amgen has a consensus rating of "Hold" and an average price target of $309.22.

Amgen Stock Performance

NASDAQ AMGN traded up $0.09 during trading hours on Thursday, hitting $287.10. The company's stock had a trading volume of 2,519,578 shares, compared to its average volume of 2,805,490. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $346.85. The company's 50 day simple moving average is $282.39 and its two-hundred day simple moving average is $285.31. The company has a market cap of $154.38 billion, a P/E ratio of 38.03, a price-to-earnings-growth ratio of 2.63 and a beta of 0.51. The company has a debt-to-equity ratio of 9.62, a current ratio of 1.26 and a quick ratio of 0.95.

Amgen (NASDAQ:AMGN - Get Free Report) last released 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 176.32% and a net margin of 12.24%. The company had revenue of $8.15 billion during the quarter, compared to the consensus estimate of $8.05 billion. During the same period last year, the company earned $3.96 EPS. Amgen's revenue for the quarter was up 9.4% on a year-over-year basis. As a group, sell-side analysts expect that Amgen Inc. will post 20.62 EPS for the current fiscal 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.