Bleakley Financial Group LLC Grows Position in Amgen Inc. (NASDAQ:AMGN)

Bleakley Financial Group LLC grew its stake in Amgen Inc. (NASDAQ:AMGN) by 7.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,725 shares of the medical research company’s stock after purchasing an additional 1,570 shares during the period. Bleakley Financial Group LLC’s holdings in Amgen were worth $7,080,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Beck Mack & Oliver LLC boosted its position in Amgen by 0.7% in the 4th quarter. Beck Mack & Oliver LLC now owns 4,623 shares of the medical research company’s stock worth $1,205,000 after purchasing an additional 34 shares in the last quarter. Continuum Advisory LLC boosted its position in Amgen by 0.7% in the 4th quarter. Continuum Advisory LLC now owns 5,154 shares of the medical research company’s stock worth $1,343,000 after purchasing an additional 35 shares in the last quarter. Octavia Wealth Advisors LLC boosted its position in Amgen by 1.5% in the 1st quarter. Octavia Wealth Advisors LLC now owns 2,435 shares of the medical research company’s stock worth $759,000 after purchasing an additional 35 shares in the last quarter. Trillium Asset Management LLC raised its stake in shares of Amgen by 4.2% during the 4th quarter. Trillium Asset Management LLC now owns 911 shares of the medical research company’s stock worth $237,000 after buying an additional 37 shares during the period. Finally, Affinity Capital Advisors LLC raised its stake in shares of Amgen by 4.5% during the 1st quarter. Affinity Capital Advisors LLC now owns 861 shares of the medical research company’s stock worth $246,000 after buying an additional 37 shares during the period. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Insider Transactions at Amgen

In related news, SVP Rachna Khosla sold 1,500 shares of the business’s 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 directly owned 8,162 shares in the company, valued at approximately $2,364,368.16. The trade was a 15.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.69% of the company’s stock.

Analyst Upgrades and Downgrades

AMGN has been the subject of several research analyst reports. Wall Street Zen raised Amgen from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 18th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $305.00 target price on shares of Amgen in a research note on Tuesday, June 24th. Guggenheim initiated coverage on Amgen in a research note on Tuesday, May 20th. They set a “neutral” rating and a $288.00 target price for the company. William Blair reaffirmed an “outperform” rating on shares of Amgen in a research note on Tuesday, June 24th. Finally, Erste Group Bank downgraded Amgen from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 8th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Amgen has a consensus rating of “Hold” and an average price target of $307.82.

Amgen Stock Performance

Shares of AMGN opened at $295.27 on Monday. The company has a debt-to-equity ratio of 8.70, a quick ratio of 0.88 and a current ratio of 1.17. The company has a market capitalization of $158.77 billion, a price-to-earnings ratio of 26.94, a PEG ratio of 2.67 and a beta of 0.49. The company’s 50 day simple moving average is $283.56 and its 200 day simple moving average is $288.31. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $346.85.

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, topping the consensus estimate of $4.18 by $0.72. Amgen had a net margin of 17.39% and a return on equity of 176.11%. The business had revenue of $8.15 billion for the quarter, compared to analyst estimates of $8.05 billion. During the same period in the prior year, the firm posted $3.96 EPS. The company’s revenue was up 9.4% on a year-over-year basis. On average, sell-side analysts predict that Amgen Inc. will post 20.62 EPS for the current year.

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.