Range Financial Group LLC Boosts Holdings in Amgen Inc. (NASDAQ:AMGN)

Range Financial Group LLC boosted its position in Amgen Inc. (NASDAQ:AMGN - Free Report) by 15.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,549 shares of the medical research company's stock after purchasing an additional 1,416 shares during the quarter. Amgen comprises 1.5% of Range Financial Group LLC's investment portfolio, making the stock its 12th biggest position. Range Financial Group LLC's holdings in Amgen were worth $3,286,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of AMGN. Centricity Wealth Management LLC purchased a new stake in Amgen in the 4th quarter worth approximately $25,000. Pinney & Scofield Inc. purchased a new position in Amgen in the 4th quarter worth $26,000. Ritter Daniher Financial Advisory LLC DE raised its position in Amgen by 66.2% in the 4th quarter. Ritter Daniher Financial Advisory LLC DE now owns 128 shares of the medical research company's stock worth $33,000 after purchasing an additional 51 shares during the period. Synergy Investment Management LLC purchased a new position in Amgen in the 4th quarter worth $34,000. Finally, Atala Financial Inc purchased a new position in Amgen in the 4th quarter worth $34,000. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AMGN has been the topic of a number of recent analyst reports. Piper Sandler cut their price target on shares of Amgen from $329.00 to $328.00 and set an "overweight" rating on the stock in a report on Friday, May 16th. Johnson Rice set a $294.00 price objective on shares of Amgen in a report on Wednesday, March 5th. Guggenheim initiated coverage on shares of Amgen in a research note on Tuesday, May 20th. They issued a "neutral" rating and a $288.00 target price on the stock. Bank of America upped their target price on shares of Amgen from $275.00 to $294.00 and gave the stock an "underperform" rating in a research note on Wednesday, March 5th. Finally, Royal Bank of Canada decreased their price objective on shares of Amgen from $324.00 to $320.00 and set an "outperform" rating for the company in a report on Friday, May 2nd. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Amgen currently has an average rating of "Hold" and an average target price of $309.22.

Amgen Price Performance

Shares of NASDAQ:AMGN opened at $290.33 on Monday. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $346.85. The company has a debt-to-equity ratio of 9.62, a quick ratio of 0.95 and a current ratio of 1.26. The firm has a fifty day moving average price of $281.57 and a 200 day moving average price of $285.39. The firm has a market cap of $156.11 billion, a price-to-earnings ratio of 38.45, a P/E/G ratio of 2.63 and a beta of 0.51.

Amgen (NASDAQ:AMGN - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The medical research company reported $4.90 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $8.05 billion. During the same quarter last year, the business earned $3.96 earnings per share. Amgen's quarterly revenue was up 9.4% compared to the same quarter last year. As a group, sell-side analysts expect that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Insider Buying and Selling at Amgen

In other news, SVP Rachna Khosla sold 1,500 shares of the firm's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $289.68, for a total value of $434,520.00. Following the completion of the sale, the senior vice president now owns 8,162 shares in the company, valued at approximately $2,364,368.16. This trade represents a 15.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.76% of the stock is owned by company insiders.

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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