Simplicity Wealth LLC Purchases New Position in Amgen Inc. (NASDAQ:AMGN)

Simplicity Wealth LLC bought a new stake in Amgen Inc. (NASDAQ:AMGN - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,252 shares of the medical research company's stock, valued at approximately $390,000.

Several other large investors have also modified their holdings of AMGN. Centricity Wealth Management LLC acquired a new position in Amgen during the fourth quarter worth $25,000. Pinney & Scofield Inc. purchased a new stake in shares of Amgen during the 4th quarter worth $26,000. Ritter Daniher Financial Advisory LLC DE grew its stake in shares of Amgen by 66.2% during 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 shares of Amgen in the 4th quarter valued at about $34,000. Finally, Atala Financial Inc acquired a new stake in shares of Amgen in the fourth quarter valued at about $34,000. Hedge funds and other institutional investors own 76.50% of the company's stock.

Amgen Trading Down 0.7%

AMGN traded down $2.07 during midday trading on Friday, hitting $295.22. The company's stock had a trading volume of 2,191,182 shares, compared to its average volume of 2,811,912. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $346.85. The firm has a 50-day moving average price of $281.03 and a two-hundred day moving average price of $285.48. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 9.62. The firm has a market cap of $158.74 billion, a P/E ratio of 39.10, a PEG ratio of 2.63 and a beta of 0.51.

Amgen (NASDAQ:AMGN - Get Free Report) last released 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 12.24% and a return on equity of 176.32%. The firm had revenue of $8.15 billion during the quarter, compared to the consensus estimate of $8.05 billion. During the same period in the previous year, the firm earned $3.96 earnings per share. Amgen's revenue was up 9.4% compared to the same quarter last year. On average, research analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current year.

Insider Buying and Selling

In other Amgen news, SVP Rachna Khosla sold 1,500 shares of the company's stock in a transaction dated 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 in the company, valued at $2,364,368.16. This represents a 15.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.76% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on AMGN. Guggenheim began coverage on shares of Amgen in a report on Tuesday, May 20th. They issued a "neutral" rating and a $288.00 target price for the company. Mizuho raised their price objective on Amgen from $235.00 to $280.00 and gave the company a "neutral" rating in a research note on Wednesday, May 7th. UBS Group reiterated a "neutral" rating and set a $315.00 target price (down from $319.00) on shares of Amgen in a research report on Friday, May 2nd. Bank of America raised their price target on Amgen from $275.00 to $294.00 and gave the company an "underperform" rating in a research report on Wednesday, March 5th. Finally, Morgan Stanley reiterated an "equal weight" rating on shares of Amgen in a research report on Friday, May 2nd. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, nine have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, Amgen has an average rating of "Hold" and an average target price of $309.22.

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.