Hager Investment Management Services LLC Raises Holdings in Amgen Inc. (NASDAQ:AMGN)

Hager Investment Management Services LLC boosted its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 2.7% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 5,079 shares of the medical research company’s stock after acquiring an additional 133 shares during the quarter. Hager Investment Management Services LLC’s holdings in Amgen were worth $1,582,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of AMGN. Brighton Jones LLC increased its holdings in Amgen by 23.5% during the fourth quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company’s stock valued at $7,159,000 after buying an additional 5,226 shares during the period. Proficio Capital Partners LLC grew its holdings in Amgen by 35.0% in the fourth quarter. Proficio Capital Partners LLC now owns 1,806 shares of the medical research company’s stock worth $471,000 after purchasing an additional 468 shares during the last quarter. Madison Investment Advisors LLC acquired a new position in shares of Amgen during the fourth quarter worth $1,948,000. Patten & Patten Inc. TN increased its position in shares of Amgen by 2.2% during the fourth quarter. Patten & Patten Inc. TN now owns 3,012 shares of the medical research company’s stock worth $785,000 after purchasing an additional 65 shares in the last quarter. Finally, Gallacher Capital Management LLC increased its position in shares of Amgen by 12.4% during the fourth quarter. Gallacher Capital Management LLC now owns 1,115 shares of the medical research company’s stock worth $291,000 after purchasing an additional 123 shares in the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AMGN has been the topic of a number of recent analyst reports. Piper Sandler reaffirmed an “overweight” rating and set a $328.00 price target on shares of Amgen in a research report on Friday, June 27th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $305.00 price target on shares of Amgen in a research report on Tuesday, June 24th. Royal Bank Of Canada reduced their price target on Amgen from $324.00 to $320.00 and set an “outperform” rating on the stock in a research report on Friday, May 2nd. Mizuho upped their price target on Amgen from $235.00 to $280.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 7th. Finally, William Blair reaffirmed an “outperform” rating on shares of Amgen in a research report on Tuesday, June 24th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $307.82.

Insider Buying and Selling at Amgen

In other Amgen news, SVP Rachna Khosla sold 1,500 shares of the company’s stock in a transaction dated 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 owned 8,162 shares in the company, valued at approximately $2,364,368.16. This represents a 15.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.69% of the company’s stock.

Amgen Trading Up 0.6%

NASDAQ AMGN opened at $297.03 on Tuesday. The company has a market capitalization of $159.72 billion, a PE ratio of 27.10, a P/E/G ratio of 2.67 and a beta of 0.49. The company has a fifty day moving average of $283.90 and a 200 day moving average of $288.55. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $346.85. The company has a debt-to-equity ratio of 8.70, a current ratio of 1.17 and a quick ratio of 0.88.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data 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 business had revenue of $8.15 billion during the quarter, compared to the consensus estimate of $8.05 billion. Amgen had a net margin of 17.39% and a return on equity of 176.11%. The company’s revenue was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.96 earnings per share. Research analysts forecast that Amgen Inc. will post 20.62 earnings per share 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.