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

Bernardo Wealth Planning LLC purchased a new stake in Amgen Inc. (NASDAQ:AMGN) in the 1st quarter, HoldingsChannel reports. The firm purchased 656 shares of the medical research company’s stock, valued at approximately $204,000.

Other large investors have also made changes to their positions in the company. Ascent Wealth Partners LLC grew its stake in shares of Amgen by 0.7% in the 4th quarter. Ascent Wealth Partners LLC now owns 9,024 shares of the medical research company’s stock valued at $2,352,000 after buying an additional 64 shares in the last quarter. Fisher Asset Management LLC lifted its holdings in Amgen by 285.4% in the 4th quarter. Fisher Asset Management LLC now owns 394,489 shares of the medical research company’s stock worth $102,820,000 after purchasing an additional 292,137 shares during the last quarter. Aire Advisors LLC lifted its holdings in Amgen by 26.3% in the 4th quarter. Aire Advisors LLC now owns 13,280 shares of the medical research company’s stock worth $3,461,000 after purchasing an additional 2,762 shares during the last quarter. Beacon Harbor Wealth Advisors Inc. acquired a new stake in Amgen in the 4th quarter worth approximately $3,531,000. Finally, Mariner LLC lifted its holdings in Amgen by 2.2% in the 4th quarter. Mariner LLC now owns 914,380 shares of the medical research company’s stock worth $238,316,000 after purchasing an additional 19,250 shares during the last quarter. Institutional investors own 76.50% of the company’s stock.

Amgen Stock Performance

Shares of NASDAQ AMGN opened at $289.33 on Friday. The business has a fifty day simple moving average of $281.82 and a 200 day simple moving average of $285.96. The company has a current ratio of 1.17, a quick ratio of 0.88 and a debt-to-equity ratio of 8.70. The firm has a market capitalization of $155.58 billion, a price-to-earnings ratio of 26.40, a PEG ratio of 2.62 and a beta of 0.51. Amgen Inc. has a one year low of $253.30 and a one year high of $346.85.

Amgen (NASDAQ:AMGN) last issued its earnings results 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. The business had revenue of $8.15 billion during the quarter, compared to analyst estimates of $8.05 billion. Amgen had a return on equity of 176.11% and a net margin of 17.39%. Amgen’s revenue was up 9.4% on a year-over-year basis. During the same period in the prior year, the company posted $3.96 earnings per share. Sell-side analysts expect that Amgen Inc. will post 20.62 EPS for the current year.

Insider Activity at Amgen

In other Amgen news, SVP Rachna Khosla sold 1,500 shares of the stock in a transaction on 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 transaction, 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.76% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Mizuho boosted their target price on Amgen from $235.00 to $280.00 and gave the stock a “neutral” rating in a report on Wednesday, May 7th. Johnson Rice set a $294.00 target price on Amgen in a report on Wednesday, March 5th. Piper Sandler reduced their target price on Amgen from $329.00 to $328.00 and set an “overweight” rating for the company in a report on Friday, May 16th. Erste Group Bank lowered Amgen from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 8th. Finally, Bank of America boosted their target price on Amgen from $275.00 to $294.00 and gave the stock an “underperform” rating in a report on Wednesday, March 5th. Two equities 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Amgen currently has an average rating of “Hold” and an average price target of $309.22.

About Amgen

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.