First Business Financial Services Inc. Purchases Shares of 687 Amgen Inc. (NASDAQ:AMGN)

First Business Financial Services Inc. acquired a new position in shares of Amgen Inc. (NASDAQ:AMGN) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 687 shares of the medical research company’s stock, valued at approximately $214,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Pinney & Scofield Inc. purchased a new stake in Amgen in the fourth quarter valued at $26,000. First Pacific Financial lifted its holdings in shares of Amgen by 304.5% in the 1st quarter. First Pacific Financial now owns 89 shares of the medical research company’s stock valued at $28,000 after buying an additional 67 shares during the period. Ritter Daniher Financial Advisory LLC DE boosted its stake in shares of Amgen by 66.2% in the fourth quarter. Ritter Daniher Financial Advisory LLC DE now owns 128 shares of the medical research company’s stock worth $33,000 after buying an additional 51 shares during the last quarter. Heck Capital Advisors LLC acquired a new stake in Amgen during the fourth quarter worth about $36,000. Finally, Legacy Investment Solutions LLC grew its holdings in Amgen by 46.9% during the fourth quarter. Legacy Investment Solutions LLC now owns 141 shares of the medical research company’s stock worth $37,000 after acquiring an additional 45 shares during the period. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Amgen Trading Up 0.6%

Shares of AMGN opened at $297.03 on Tuesday. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $346.85. The stock has a market cap of $159.72 billion, a PE ratio of 27.10, a price-to-earnings-growth ratio of 2.67 and a beta of 0.49. The firm’s fifty day moving average is $283.90 and its two-hundred day moving average is $288.55. The company has a quick ratio of 0.88, a current ratio of 1.17 and a debt-to-equity ratio of 8.70.

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

Insider Buying and Selling

In other Amgen news, SVP Rachna Khosla sold 1,500 shares of the firm’s stock in a transaction on Thursday, June 5th. The stock was 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 directly owned 8,162 shares of the company’s stock, valued at $2,364,368.16. This trade represents a 15.52% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on AMGN shares. Wall Street Zen raised Amgen from a “buy” rating to a “strong-buy” rating in a report on Sunday, May 18th. Royal Bank Of Canada decreased their target price on shares of Amgen from $324.00 to $320.00 and set an “outperform” rating for the company in a research note on Friday, May 2nd. Cantor Fitzgerald restated a “neutral” rating and set a $305.00 price target on shares of Amgen in a research report on Tuesday, June 24th. Mizuho upped their price objective on shares of Amgen from $235.00 to $280.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 7th. Finally, Piper Sandler reissued an “overweight” rating and set a $328.00 target price on shares of Amgen in a research note on Friday, June 27th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $307.82.

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.