Johnson Bixby & Associates LLC Makes New Investment in Amgen Inc. (NASDAQ:AMGN)

Johnson Bixby & Associates LLC acquired a new position in shares of Amgen Inc. (NASDAQ:AMGN) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 709 shares of the medical research company’s stock, valued at approximately $221,000.

Several other hedge funds also recently modified their holdings of the stock. Centricity Wealth Management LLC acquired a new stake in Amgen in the fourth quarter valued at approximately $25,000. Pinney & Scofield Inc. acquired a new stake in Amgen in the 4th quarter valued at $26,000. Ritter Daniher Financial Advisory LLC DE increased its stake in Amgen by 66.2% during the 4th quarter. Ritter Daniher Financial Advisory LLC DE now owns 128 shares of the medical research company’s stock valued at $33,000 after purchasing an additional 51 shares in the last quarter. Synergy Investment Management LLC acquired a new position in Amgen during the fourth quarter worth $34,000. Finally, Atala Financial Inc acquired a new position in Amgen during the fourth quarter worth $34,000. Institutional investors own 76.50% of the company’s stock.

Insider Buying and Selling at Amgen

In related 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 transaction, the senior vice president now directly owns 8,162 shares in the company, valued at approximately $2,364,368.16. The trade was a 15.52% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.69% of the company’s stock.

Amgen Stock Down 0.1%

Amgen stock opened at $289.33 on Monday. The firm has a 50 day moving average price of $281.82 and a 200-day moving average price of $286.10. 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 Inc. has a twelve month low of $253.30 and a twelve month high of $346.85. The company has a market capitalization of $155.58 billion, a P/E ratio of 26.40, a P/E/G ratio of 2.62 and a beta of 0.51.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data 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 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% compared to the same quarter last year. During the same period in the prior year, the company earned $3.96 earnings per share. As a group, equities analysts predict that Amgen Inc. will post 20.62 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on AMGN shares. Guggenheim started coverage on shares of Amgen in a research report on Tuesday, May 20th. They set a “neutral” rating and a $288.00 target price for the company. Piper Sandler cut their price target on Amgen from $329.00 to $328.00 and set an “overweight” rating for the company in a research note on Friday, May 16th. Johnson Rice set a $294.00 price objective on Amgen in a research note 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. Finally, Morgan Stanley reiterated an “equal weight” rating on shares of Amgen in a report on Friday, May 2nd. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $309.22.

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.