Purkiss Capital Advisors LLC Invests $269,000 in Amgen Inc. (NASDAQ:AMGN)

Key Points

• Purkiss Capital Advisors LLC has acquired a new stake in Amgen Inc., purchasing 863 shares valued at approximately $269,000 during the first quarter.
• Several institutional investors have significantly increased their stakes in Amgen, with Capital World Investors growing their position by an astounding 1,292.0% in the fourth quarter.
• Amgen's stock has received mixed ratings from analysts, with an average target price of $307.27 and a consensus rating of "Hold."

Purkiss Capital Advisors LLC acquired a new position in Amgen Inc. (NASDAQ:AMGN - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 863 shares of the medical research company's stock, valued at approximately $269,000.

Several other hedge funds have also recently made changes to their positions in AMGN. Brighton Jones LLC boosted its stake in Amgen by 23.5% during the 4th quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company's stock valued at $7,159,000 after purchasing an additional 5,226 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in Amgen during the 4th quarter valued at about $8,798,000. Portland Global Advisors LLC boosted its stake in shares of Amgen by 0.9% in the 4th quarter. Portland Global Advisors LLC now owns 23,755 shares of the medical research company's stock worth $6,192,000 after buying an additional 205 shares during the last quarter. Joseph Group Capital Management boosted its stake in shares of Amgen by 15.1% in the 4th quarter. Joseph Group Capital Management now owns 9,934 shares of the medical research company's stock worth $2,589,000 after buying an additional 1,301 shares during the last quarter. Finally, CIBC Private Wealth Group LLC boosted its stake in shares of Amgen by 3.4% in the 4th quarter. CIBC Private Wealth Group LLC now owns 328,563 shares of the medical research company's stock worth $86,810,000 after buying an additional 10,946 shares during the last quarter. 76.50% of the stock is owned by institutional investors.

Amgen Stock Performance

AMGN stock traded down $5.02 during midday trading on Thursday, reaching $296.35. 786,334 shares of the company's stock traded hands, compared to its average volume of 2,901,975. The company has a 50-day moving average price of $291.07 and a two-hundred day moving average price of $291.49. The company has a debt-to-equity ratio of 8.70, a quick ratio of 0.88 and a current ratio of 1.17. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $340.89. The firm has a market capitalization of $159.35 billion, a PE ratio of 27.13, a price-to-earnings-growth ratio of 2.63 and a beta of 0.49.

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 (EPS) for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $8.05 billion. During the same quarter in the previous year, the firm posted $3.96 EPS. The business's revenue for the quarter was up 9.4% compared to the same quarter last year. As a group, equities analysts anticipate that Amgen Inc. will post 20.62 EPS for the current year.

Insider Transactions at Amgen

In other Amgen 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 transaction of $434,520.00. Following the sale, the senior vice president owned 8,162 shares of the company's stock, valued at $2,364,368.16. The trade was a 15.52% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.76% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on AMGN. Morgan Stanley restated an "equal weight" rating on shares of Amgen in a research note on Friday, May 2nd. Bank of America boosted their target price on Amgen from $252.00 to $261.00 and gave the stock an "underperform" rating in a research note on Wednesday, July 23rd. Mizuho boosted 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. Guggenheim began coverage on Amgen in a research note on Tuesday, May 20th. They issued a "neutral" rating and a $288.00 target price on the stock. Finally, UBS Group boosted their target price on Amgen from $315.00 to $326.00 and gave the stock a "neutral" rating in a research note on Monday, July 21st. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $307.27.

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.