Amgen Inc. (NASDAQ:AMGN) Shares Bought by Canopy Partners LLC

Canopy Partners LLC raised its position in shares of Amgen Inc. (NASDAQ:AMGN) by 1.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,279 shares of the medical research company’s stock after acquiring an additional 50 shares during the quarter. Canopy Partners LLC’s holdings in Amgen were worth $1,333,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. KPP Advisory Services LLC raised its holdings in shares of Amgen by 87.1% during the 1st quarter. KPP Advisory Services LLC now owns 5,833 shares of the medical research company’s stock worth $1,817,000 after acquiring an additional 2,716 shares during the period. Advisor Resource Council acquired a new stake in Amgen during the first quarter worth about $1,331,000. DLK Investment Management LLC raised its stake in Amgen by 7.3% during the first quarter. DLK Investment Management LLC now owns 20,491 shares of the medical research company’s stock worth $6,384,000 after purchasing an additional 1,387 shares during the period. Mariner LLC increased its holdings in shares of Amgen by 2.2% during the 4th quarter. Mariner LLC now owns 914,380 shares of the medical research company’s stock worth $238,316,000 after buying an additional 19,250 shares during the last quarter. Finally, Nutshell Asset Management Ltd purchased a new stake in shares of Amgen during the 4th quarter valued at approximately $2,763,000. Institutional investors and hedge funds own 76.50% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on AMGN. Cantor Fitzgerald restated a “neutral” rating and issued a $305.00 target price on shares of Amgen in a research report on Tuesday, June 24th. Guggenheim assumed 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. Wall Street Zen raised Amgen from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 18th. UBS Group increased 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. Finally, Morgan Stanley reaffirmed 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, eight have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Amgen presently has a consensus rating of “Hold” and an average price target of $307.27.

Insider Buying and Selling

In other news, SVP Rachna Khosla sold 1,500 shares of the stock in a transaction dated Thursday, June 5th. The shares were 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 owned 8,162 shares in the company, valued at approximately $2,364,368.16. This represents a 15.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.69% of the company’s stock.

Amgen Stock Performance

NASDAQ AMGN opened at $301.29 on Tuesday. The company has a fifty day moving average of $289.90 and a two-hundred day moving average of $291.34. The company has a market capitalization of $162.01 billion, a PE ratio of 27.49, a P/E/G ratio of 2.65 and a beta of 0.49. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $340.89. The company has a debt-to-equity ratio of 8.70, a current ratio of 1.17 and a quick ratio of 0.88.

Amgen (NASDAQ:AMGN) last posted its earnings results on Thursday, May 1st. The medical research company reported $4.90 earnings per share for the quarter, beating the consensus estimate of $4.18 by $0.72. The business had revenue of $8.15 billion during the quarter, compared to the consensus estimate of $8.05 billion. Amgen had a return on equity of 176.11% and a net margin of 17.39%. The business’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the previous year, the business earned $3.96 EPS. As a group, analysts expect that Amgen Inc. will post 20.62 earnings per share for the current year.

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.