Panoramic Capital Partners LLC Acquires New Stake in Amgen Inc. (NASDAQ:AMGN)

Panoramic Capital Partners LLC bought a new position in Amgen Inc. (NASDAQ:AMGN - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 943 shares of the medical research company's stock, valued at approximately $294,000.

A number of other large investors have also made changes to their positions in the company. Centricity Wealth Management LLC purchased a new position in shares of Amgen during the 4th quarter worth $25,000. Pinney & Scofield Inc. bought a new position in Amgen in the 4th quarter worth $26,000. Ritter Daniher Financial Advisory LLC DE lifted its position 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 in the last quarter. Synergy Investment Management LLC bought a new stake in Amgen during the fourth quarter valued at about $34,000. Finally, Atala Financial Inc bought a new stake in Amgen during the fourth quarter valued at about $34,000. 76.50% of the stock is currently owned by institutional investors.

Amgen Stock Performance

Shares of NASDAQ:AMGN opened at $290.33 on Monday. The business has a 50-day moving average of $281.57 and a two-hundred day moving average of $285.39. The firm has a market capitalization of $156.11 billion, a PE ratio of 38.45, a P/E/G ratio of 2.63 and a beta of 0.51. The company has a debt-to-equity ratio of 9.62, a current ratio of 1.26 and a quick ratio of 0.95. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $346.85.

Amgen (NASDAQ:AMGN - Get Free Report) last posted its earnings results on Thursday, May 1st. The medical research company reported $4.90 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.18 by $0.72. The business had revenue of $8.15 billion during the quarter, compared to analyst estimates of $8.05 billion. Amgen had a return on equity of 176.32% and a net margin of 12.24%. The company's revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter last year, the firm earned $3.96 earnings per share. As a group, research analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on AMGN. Cantor Fitzgerald began coverage on Amgen in a research report on Tuesday, April 22nd. They set a "neutral" rating and a $305.00 price objective on the stock. Morgan Stanley reaffirmed an "equal weight" rating on shares of Amgen in a report on Friday, May 2nd. Johnson Rice set a $294.00 price objective on shares of Amgen in a research note on Wednesday, March 5th. Bank of America raised their price objective on shares of Amgen from $275.00 to $294.00 and gave the company an "underperform" rating in a research report on Wednesday, March 5th. Finally, Piper Sandler cut their price objective on shares of Amgen from $329.00 to $328.00 and set an "overweight" rating for the company in a report on Friday, May 16th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Amgen presently has an average rating of "Hold" and a consensus price target of $309.22.

Insider Activity at Amgen

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 transaction of $434,520.00. Following the completion of the sale, the senior vice president now directly owns 8,162 shares of the company's stock, valued at $2,364,368.16. This trade represents a 15.52% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company 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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