Croban Purchases New Stake in Amgen Inc. (NASDAQ:AMGN)

Croban purchased a new stake in Amgen Inc. (NASDAQ:AMGN - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,823 shares of the medical research company's stock, valued at approximately $1,191,000.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Amgen by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 52,721,795 shares of the medical research company's stock worth $13,741,409,000 after buying an additional 339,522 shares during the period. Geode Capital Management LLC increased its position in Amgen by 2.9% during the 4th quarter. Geode Capital Management LLC now owns 12,475,032 shares of the medical research company's stock worth $3,245,881,000 after buying an additional 352,143 shares during the period. Capital International Investors increased its position in Amgen by 40.1% during the 4th quarter. Capital International Investors now owns 12,212,065 shares of the medical research company's stock worth $3,182,843,000 after buying an additional 3,495,503 shares during the period. Capital World Investors increased its position in Amgen by 1,292.0% during the 4th quarter. Capital World Investors now owns 6,495,710 shares of the medical research company's stock worth $1,693,042,000 after buying an additional 6,029,058 shares during the period. Finally, Northern Trust Corp increased its position in Amgen by 15.8% during the 4th quarter. Northern Trust Corp now owns 6,431,029 shares of the medical research company's stock worth $1,676,183,000 after buying an additional 875,254 shares during the period. Institutional investors own 76.50% of the company's stock.

Amgen Trading Up 1.3%

NASDAQ AMGN opened at $300.37 on Friday. The company has a market cap of $161.51 billion, a price-to-earnings ratio of 27.41, a P/E/G ratio of 2.68 and a beta of 0.49. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $346.85. The business has a 50 day moving average price of $283.28 and a 200-day moving average price of $287.76. 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 (NASDAQ:AMGN - Get Free Report) last announced its earnings results 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 company had revenue of $8.15 billion for the quarter, compared to analysts' expectations of $8.05 billion. Amgen had a return on equity of 176.11% and a net margin of 17.39%. Amgen's quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.96 earnings per share. As a group, equities analysts expect that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Amgen 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 value of $434,520.00. Following the transaction, the senior vice president owned 8,162 shares of the company's stock, valued at approximately $2,364,368.16. The trade was a 15.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.76% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on AMGN shares. Mizuho increased their price objective on Amgen from $235.00 to $280.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 7th. Erste Group Bank cut Amgen from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 8th. UBS Group restated a "neutral" rating and issued a $315.00 price target (down previously from $319.00) on shares of Amgen in a research report on Friday, May 2nd. Morgan Stanley restated an "equal weight" rating on shares of Amgen in a research report on Friday, May 2nd. Finally, Guggenheim assumed coverage on Amgen in a research report on Tuesday, May 20th. They issued a "neutral" rating and a $288.00 price target on the stock. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $307.82.

Amgen 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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