Amgen Inc. (NASDAQ:AMGN) Shares Bought by Procyon Advisors LLC

Procyon Advisors LLC grew its stake in Amgen Inc. (NASDAQ:AMGN - Free Report) by 9.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,667 shares of the medical research company's stock after acquiring an additional 919 shares during the quarter. Procyon Advisors LLC's holdings in Amgen were worth $3,323,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Centricity Wealth Management LLC bought a new position in shares of Amgen during the fourth quarter valued at $25,000. Pinney & Scofield Inc. bought a new position in shares of Amgen during the fourth quarter valued at $26,000. Ritter Daniher Financial Advisory LLC DE lifted its holdings 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 valued at $33,000 after purchasing an additional 51 shares in the last quarter. Synergy Investment Management LLC bought a new position in shares of Amgen during the fourth quarter valued at $34,000. Finally, Atala Financial Inc bought a new position in shares of Amgen during the fourth quarter valued at $34,000. 76.50% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on AMGN. Bank of America upped their price target on Amgen from $275.00 to $294.00 and gave the company an "underperform" rating in a report on Wednesday, March 5th. Wall Street Zen upgraded Amgen from a "buy" rating to a "strong-buy" rating in a research report on Sunday, May 18th. Erste Group Bank cut Amgen from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 8th. UBS Group reiterated a "neutral" rating and set a $315.00 target price (down previously from $319.00) on shares of Amgen in a research report on Friday, May 2nd. Finally, Morgan Stanley reiterated an "equal weight" rating on shares of Amgen in a research report on Friday, May 2nd. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $309.22.

Amgen Stock Up 1.1%

Shares of AMGN stock traded up $3.23 during mid-day trading on Friday, hitting $290.33. The stock had a trading volume of 1,996,092 shares, compared to its average volume of 2,810,002. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $346.85. The firm has a market capitalization of $156.11 billion, a P/E ratio of 38.45, a price-to-earnings-growth ratio of 2.63 and a beta of 0.51. The firm's 50-day moving average is $281.57 and its two-hundred day moving average is $285.44. 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 (NASDAQ:AMGN - Get Free Report) last issued its earnings results on Thursday, May 1st. The medical research company reported $4.90 earnings per share for the quarter, topping the consensus estimate of $4.18 by $0.72. Amgen had a return on equity of 176.32% and a net margin of 12.24%. The business had revenue of $8.15 billion during the quarter, compared to analysts' expectations of $8.05 billion. During the same period in the prior year, the business earned $3.96 EPS. The business's revenue for the quarter was up 9.4% compared to the same quarter last year. On average, analysts predict that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Insider Transactions at Amgen

In other news, SVP Rachna Khosla sold 1,500 shares of the business's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $289.68, for a total value of $434,520.00. Following the completion of the transaction, the senior vice president now directly owns 8,162 shares of the company's stock, valued at approximately $2,364,368.16. The trade was a 15.52% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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.