Curat Global LLC Invests $1.42 Million in Amgen Inc. (NASDAQ:AMGN)

Curat Global LLC bought a new stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 4,558 shares of the medical research company's stock, valued at approximately $1,420,000. Amgen comprises 1.7% of Curat Global LLC's investment portfolio, making the stock its 10th biggest position.

Several other hedge funds have also bought and sold shares of AMGN. Tallon Kerry Patrick bought a new stake in shares of Amgen in the 4th quarter worth approximately $270,000. Brighton Jones LLC lifted its holdings in shares of Amgen by 23.5% in the 4th quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company's stock worth $7,159,000 after acquiring an additional 5,226 shares during the last quarter. Sargent Investment Group LLC increased its stake in shares of Amgen by 17.9% in the fourth quarter. Sargent Investment Group LLC now owns 1,243 shares of the medical research company's stock worth $336,000 after buying an additional 189 shares during the period. Stratos Wealth Advisors LLC increased its stake in shares of Amgen by 16.6% in the fourth quarter. Stratos Wealth Advisors LLC now owns 7,047 shares of the medical research company's stock worth $1,837,000 after buying an additional 1,004 shares during the period. Finally, Confluence Wealth Services Inc. increased its stake in shares of Amgen by 3.6% in the fourth quarter. Confluence Wealth Services Inc. now owns 2,519 shares of the medical research company's stock worth $700,000 after buying an additional 87 shares during the period. 76.50% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on AMGN. Johnson Rice set a $294.00 price objective on shares of Amgen in a research report on Wednesday, March 5th. Guggenheim initiated coverage on shares of Amgen in a research note on Tuesday, May 20th. They issued a "neutral" rating and a $288.00 price target on the stock. Cantor Fitzgerald started coverage on shares of Amgen in a research note on Tuesday, April 22nd. They issued a "neutral" rating and a $305.00 price target on the stock. Erste Group Bank cut shares of Amgen from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 8th. Finally, Piper Sandler lowered their price objective on shares of Amgen from $329.00 to $328.00 and set an "overweight" rating on the stock in a research note on Friday, May 16th. 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 company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $309.22.

Insider Buying and Selling

In other news, SVP Rachna Khosla sold 1,500 shares of the firm'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 completion of the sale, the senior vice president now owns 8,162 shares of the company's stock, valued at $2,364,368.16. This trade represents a 15.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.76% of the company's stock.

Amgen Price Performance

Shares of AMGN stock traded up $3.23 during mid-day trading on Friday, hitting $290.33. 1,996,092 shares of the stock traded hands, compared to its average volume of 2,810,002. Amgen Inc. has a twelve month low of $253.30 and a twelve month high of $346.85. The firm has a market cap of $156.11 billion, a price-to-earnings ratio of 38.45, a price-to-earnings-growth ratio of 2.63 and a beta of 0.51. The company's 50-day simple moving average is $281.57 and its 200-day simple moving average is $285.44. The company has a debt-to-equity ratio of 9.62, a quick ratio of 0.95 and a current ratio of 1.26.

Amgen (NASDAQ:AMGN - Get Free Report) last issued its earnings results on Thursday, May 1st. The medical research company reported $4.90 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.18 by $0.72. The business had revenue of $8.15 billion for the quarter, compared to analysts' expectations of $8.05 billion. Amgen had a return on equity of 176.32% and a net margin of 12.24%. The company's quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the previous year, the firm posted $3.96 EPS. As a group, equities research analysts expect 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.