Insight Inv LLC Has $3.94 Million Holdings in Amgen Inc. (NASDAQ:AMGN)

Insight Inv LLC grew its position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 67.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 12,642 shares of the medical research company's stock after purchasing an additional 5,101 shares during the quarter. Amgen makes up about 1.5% of Insight Inv LLC's holdings, making the stock its 14th largest position. Insight Inv LLC's holdings in Amgen were worth $3,939,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in AMGN. Argent Advisors Inc. lifted its position in shares of Amgen by 10.9% during the 1st quarter. Argent Advisors Inc. now owns 4,628 shares of the medical research company's stock valued at $1,442,000 after acquiring an additional 456 shares during the period. Jacobsen Capital Management increased its holdings in shares of Amgen by 7.3% during the 1st quarter. Jacobsen Capital Management now owns 852 shares of the medical research company's stock worth $265,000 after buying an additional 58 shares during the last quarter. Albion Financial Group UT increased its holdings in shares of Amgen by 1.2% during the 1st quarter. Albion Financial Group UT now owns 26,642 shares of the medical research company's stock worth $8,300,000 after buying an additional 319 shares during the last quarter. Amalgamated Bank increased its holdings in Amgen by 2.2% in the 1st quarter. Amalgamated Bank now owns 112,254 shares of the medical research company's stock valued at $34,973,000 after purchasing an additional 2,392 shares in the last quarter. Finally, Verity Asset Management Inc. increased its holdings in Amgen by 100.3% in the 1st quarter. Verity Asset Management Inc. now owns 7,630 shares of the medical research company's stock valued at $2,377,000 after purchasing an additional 3,820 shares in the last quarter. Hedge funds and other 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 target (down previously from $319.00) on shares of Amgen in a research report on Friday, May 2nd. Johnson Rice set a $294.00 price target on shares of Amgen in a report on Wednesday, March 5th. Bank of America upped their price objective on shares of Amgen from $275.00 to $294.00 and gave the stock an "underperform" rating in a report on Wednesday, March 5th. Cantor Fitzgerald reissued a "neutral" rating and set a $305.00 target price on shares of Amgen in a research report on Tuesday, June 24th. Finally, Royal Bank Of Canada cut their price objective on shares of Amgen from $324.00 to $320.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $307.82.

Insider Transactions at Amgen

In related news, SVP Rachna Khosla sold 1,500 shares of the business's stock in a transaction on Thursday, June 5th. The shares were 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 $2,364,368.16. The trade was a 15.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.69% of the stock is currently owned by insiders.

Amgen Stock Performance

AMGN stock traded up $6.71 during trading hours on Wednesday, hitting $297.23. 1,249,974 shares of the stock were exchanged, compared to its average volume of 2,831,561. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $346.85. The company has a 50-day simple moving average of $281.37 and a two-hundred day simple moving average of $286.28. The firm has a market capitalization of $159.82 billion, a P/E ratio of 27.12, a P/E/G ratio of 2.53 and a beta of 0.49. The company has a current ratio of 1.17, a quick ratio of 0.88 and a debt-to-equity ratio of 8.70.

Amgen (NASDAQ:AMGN - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The medical research company reported $4.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.18 by $0.72. The business had revenue of $8.15 billion for the quarter, compared to analyst estimates of $8.05 billion. Amgen had a net margin of 17.39% and a return on equity of 176.11%. The firm's revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter last year, the business posted $3.96 EPS. On average, analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

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.