Amgen Inc. (NASDAQ:AMGN) Shares Purchased by Ayrshire Capital Management LLC

Ayrshire Capital Management LLC raised its position in Amgen Inc. (NASDAQ:AMGN) by 39.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,606 shares of the medical research company’s stock after purchasing an additional 1,591 shares during the quarter. Amgen comprises approximately 0.8% of Ayrshire Capital Management LLC’s investment portfolio, making the stock its 28th biggest holding. Ayrshire Capital Management LLC’s holdings in Amgen were worth $1,747,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in AMGN. Centricity Wealth Management LLC acquired a new position in Amgen during the 4th quarter worth $25,000. Pinney & Scofield Inc. bought a new stake in shares of Amgen during the fourth quarter valued at about $26,000. Ritter Daniher Financial Advisory LLC DE lifted its holdings in 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 purchasing an additional 51 shares during the period. Synergy Investment Management LLC bought a new position in Amgen in the 4th quarter valued at about $34,000. Finally, Atala Financial Inc acquired a new position in Amgen during the 4th quarter valued at about $34,000. Institutional investors own 76.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on AMGN. UBS Group reiterated a “neutral” rating and issued a $315.00 price objective (down from $319.00) on shares of Amgen in a report on Friday, May 2nd. Bank of America lifted 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. Wall Street Zen upgraded Amgen from a “buy” rating to a “strong-buy” rating in a report on Sunday, May 18th. Mizuho raised their target price on Amgen from $235.00 to $280.00 and gave the company a “neutral” rating in a research note on Wednesday, May 7th. Finally, Cantor Fitzgerald initiated coverage on shares of Amgen in a research report on Tuesday, April 22nd. They issued a “neutral” rating and a $305.00 price target on the stock. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $309.22.

Amgen Trading Down 0.1%

NASDAQ:AMGN opened at $289.98 on Tuesday. The stock has a market cap of $155.92 billion, a PE ratio of 38.41, a price-to-earnings-growth ratio of 2.63 and a beta of 0.51. 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 current ratio of 1.26 and a quick ratio of 0.95. The stock’s 50-day moving average is $281.26 and its two-hundred day moving average is $285.36.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Thursday, May 1st. The medical research company reported $4.90 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 for the quarter, compared to the consensus estimate of $8.05 billion. During the same period in the previous year, the firm posted $3.96 earnings per share. The firm’s revenue was up 9.4% on a year-over-year basis. As a group, equities research analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Insider Transactions at Amgen

In other Amgen news, SVP Rachna Khosla sold 1,500 shares of Amgen stock in a transaction that occurred on 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 directly owns 8,162 shares in the company, valued at $2,364,368.16. The trade was a 15.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.76% of the stock is currently owned by company insiders.

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.