Janney Montgomery Scott LLC Acquires 35,100 Shares of Amgen Inc. (NASDAQ:AMGN)

Janney Montgomery Scott LLC lifted its position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 9.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 411,562 shares of the medical research company's stock after buying an additional 35,100 shares during the quarter. Janney Montgomery Scott LLC owned approximately 0.08% of Amgen worth $128,222,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Centricity Wealth Management LLC bought a new position in shares of Amgen during the 4th quarter worth $25,000. Pinney & Scofield Inc. bought a new position in shares of Amgen during the 4th quarter worth $26,000. Ritter Daniher Financial Advisory LLC DE grew its position in shares of Amgen by 66.2% during the 4th quarter. Ritter Daniher Financial Advisory LLC DE now owns 128 shares of the medical research company's stock worth $33,000 after buying an additional 51 shares in the last quarter. Synergy Investment Management LLC bought a new position in shares of Amgen during the 4th quarter worth $34,000. Finally, Atala Financial Inc bought a new stake in Amgen during the fourth quarter valued at about $34,000. Institutional investors own 76.50% of the company's stock.

Amgen Price Performance

Shares of NASDAQ:AMGN opened at $295.22 on Monday. Amgen Inc. has a twelve month low of $253.30 and a twelve month high of $346.85. The company's 50 day moving average is $281.33 and its 200 day moving average is $285.66. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 9.62. The company has a market cap of $158.74 billion, a PE ratio of 39.10, a price-to-earnings-growth ratio of 2.63 and a beta of 0.51.

Amgen (NASDAQ:AMGN - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The medical research company reported $4.90 EPS for the quarter, topping analysts' consensus estimates of $4.18 by $0.72. Amgen had a net margin of 12.24% and a return on equity of 176.32%. The business had revenue of $8.15 billion for the quarter, compared to analysts' expectations of $8.05 billion. During the same quarter last year, the company earned $3.96 EPS. The business's revenue was up 9.4% on a year-over-year basis. On average, sell-side analysts forecast that Amgen Inc. will post 20.62 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Wall Street Zen raised Amgen from a "buy" rating to a "strong-buy" rating in a research report on Sunday, May 18th. Guggenheim assumed coverage on Amgen in a research report on Tuesday, May 20th. They set a "neutral" rating and a $288.00 price objective on the stock. Bank of America raised their price objective on Amgen from $275.00 to $294.00 and gave the company an "underperform" rating in a research report on Wednesday, March 5th. 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 report on Friday, May 2nd. Finally, 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. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $309.22.

Insider Activity

In other news, SVP Rachna Khosla sold 1,500 shares of the stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $289.68, for a total transaction of $434,520.00. Following the transaction, the senior vice president now owns 8,162 shares in the company, valued at $2,364,368.16. This trade represents a 15.52% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.76% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.