Sweeney & Michel LLC Takes Position in Amgen Inc. (NASDAQ:AMGN)

Sweeney & Michel LLC purchased a new position in Amgen Inc. (NASDAQ:AMGN - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 5,190 shares of the medical research company's stock, valued at approximately $1,617,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Centricity Wealth Management LLC acquired a new position in shares of Amgen during the 4th quarter valued at about $25,000. Pinney & Scofield Inc. purchased a new position in Amgen during the fourth quarter worth about $26,000. Ritter Daniher Financial Advisory LLC DE lifted its position 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 worth $33,000 after purchasing an additional 51 shares in the last quarter. Synergy Investment Management LLC acquired a new stake in shares of Amgen during the fourth quarter worth about $34,000. Finally, Atala Financial Inc acquired a new stake in shares of Amgen during the fourth quarter worth about $34,000. Institutional investors and hedge funds own 76.50% of the company's stock.

Amgen Trading Up 1.3%

Shares of NASDAQ AMGN traded up $3.63 on Thursday, reaching $290.64. 668,867 shares of the company traded hands, compared to its average volume of 2,798,412. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $346.85. The company has a 50 day moving average of $282.39 and a 200 day moving average of $285.31. 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 stock has a market capitalization of $156.28 billion, a PE ratio of 38.50, a P/E/G ratio of 2.63 and a beta of 0.51.

Amgen (NASDAQ:AMGN - Get Free Report) last posted its quarterly earnings results 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 firm had revenue of $8.15 billion for the quarter, compared to analyst estimates of $8.05 billion. During the same quarter last year, the firm posted $3.96 earnings per share. Amgen's revenue for the quarter was up 9.4% compared to the same quarter last year. On average, equities research analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on AMGN shares. Wall Street Zen raised shares of Amgen from a "buy" rating to a "strong-buy" rating in a report on Sunday, May 18th. Cantor Fitzgerald started coverage on shares of Amgen in a report on Tuesday, April 22nd. They issued a "neutral" rating and a $305.00 target price on the stock. Erste Group Bank cut shares of Amgen from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 8th. 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 on the stock. Finally, Piper Sandler cut their price objective 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. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Amgen presently has an average rating of "Hold" and a consensus target price of $309.22.

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.