GAMMA Investing LLC Buys 3,369 Shares of Amgen Inc. (NASDAQ:AMGN)

GAMMA Investing LLC increased its stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 40.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,753 shares of the medical research company's stock after purchasing an additional 3,369 shares during the period. GAMMA Investing LLC's holdings in Amgen were worth $3,662,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Pinney & Scofield Inc. bought a new stake in shares of Amgen in the 4th quarter valued at about $26,000. Ritter Daniher Financial Advisory LLC DE grew its holdings 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 purchasing an additional 51 shares during the period. Synergy Investment Management LLC bought a new stake in Amgen in the fourth quarter valued at approximately $34,000. Atala Financial Inc acquired a new stake in Amgen in the fourth quarter worth $34,000. Finally, Global Wealth Strategies & Associates raised its holdings in Amgen by 1,388.9% in the first quarter. Global Wealth Strategies & Associates now owns 134 shares of the medical research company's stock worth $42,000 after purchasing an additional 125 shares during the period. Institutional investors own 76.50% of the company's stock.

Analyst Upgrades and Downgrades

AMGN has been the topic of several research analyst reports. UBS Group reaffirmed a "neutral" rating and set a $315.00 price objective (down previously from $319.00) on shares of Amgen in a research note on Friday, May 2nd. Royal Bank Of Canada dropped their price target on Amgen from $324.00 to $320.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. Morgan Stanley reiterated an "equal weight" rating on shares of Amgen in a report on Friday, May 2nd. Erste Group Bank cut Amgen from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 8th. Finally, Piper Sandler restated an "overweight" rating and set a $328.00 target price on shares of Amgen in a report on Friday. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $307.82.

Amgen Stock Performance

Shares of NASDAQ AMGN opened at $277.13 on Friday. The company has a debt-to-equity ratio of 8.70, a quick ratio of 0.88 and a current ratio of 1.17. The stock has a 50 day moving average price of $281.02 and a 200 day moving average price of $286.02. The stock has a market capitalization of $149.02 billion, a PE ratio of 25.29, a price-to-earnings-growth ratio of 2.52 and a beta of 0.51. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $346.85.

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, beating the consensus estimate of $4.18 by $0.72. The company had revenue of $8.15 billion during 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 firm's revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.96 EPS. Analysts predict that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Insider Buying and Selling at Amgen

In other news, SVP Rachna Khosla sold 1,500 shares of the company's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $289.68, for a total value of $434,520.00. Following the sale, the senior vice president now directly owns 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.76% of the company's stock.

Amgen Company 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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