Lansing Street Advisors Boosts Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

Lansing Street Advisors boosted its stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 53.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,938 shares of the medical research company's stock after acquiring an additional 1,371 shares during the quarter. Lansing Street Advisors' holdings in Amgen were worth $1,227,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Pinney & Scofield Inc. acquired a new position in Amgen during the 4th quarter worth $26,000. First Pacific Financial lifted its position in Amgen by 304.5% during the 1st quarter. First Pacific Financial now owns 89 shares of the medical research company's stock valued at $28,000 after purchasing an additional 67 shares during the period. Ritter Daniher Financial Advisory LLC DE raised its stake in shares of 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 worth $33,000 after buying an additional 51 shares during the last quarter. Synergy Investment Management LLC acquired a new position in Amgen in the fourth quarter valued at approximately $34,000. Finally, Atala Financial Inc acquired a new stake in Amgen during the 4th quarter worth $34,000. 76.50% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Amgen news, SVP Rachna Khosla sold 1,500 shares of the stock in a transaction 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 completion of the transaction, the senior vice president directly owned 8,162 shares of the company's stock, valued at approximately $2,364,368.16. This represents a 15.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.76% of the company's stock.

Amgen Stock Performance

Shares of NASDAQ AMGN traded up $6.33 during mid-day trading on Wednesday, reaching $296.85. 2,286,935 shares of the company's stock were exchanged, compared to its average volume of 2,840,754. The firm has a 50-day moving average price of $281.37 and a two-hundred day moving average price of $286.28. The company has a debt-to-equity ratio of 8.70, a current ratio of 1.17 and a quick ratio of 0.88. The firm has a market capitalization of $159.62 billion, a price-to-earnings ratio of 27.08, a price-to-earnings-growth ratio of 2.63 and a beta of 0.49. 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 announced its quarterly earnings data on Thursday, May 1st. The medical research company reported $4.90 EPS for the quarter, topping the consensus estimate of $4.18 by $0.72. Amgen had a net margin of 17.39% and a return on equity of 176.11%. The business had revenue of $8.15 billion for the quarter, compared to analyst estimates of $8.05 billion. During the same quarter in the previous year, the firm posted $3.96 earnings per share. The company's revenue for the quarter was up 9.4% on a year-over-year basis. Analysts predict that Amgen Inc. will post 20.62 EPS for the current year.

Wall Street Analysts Forecast Growth

AMGN has been the subject of several research analyst reports. Erste Group Bank lowered shares of Amgen from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 8th. Johnson Rice set a $294.00 price target on Amgen in a report on Wednesday, March 5th. Wall Street Zen raised shares of Amgen from a "buy" rating to a "strong-buy" rating in a research report on Sunday, May 18th. William Blair reaffirmed an "outperform" rating on shares of Amgen in a research report on Tuesday, June 24th. Finally, Mizuho increased their target price on Amgen from $235.00 to $280.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 7th. 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 issued a strong buy rating to the company. According to data from MarketBeat, Amgen presently has an average 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.