Peak Asset Management LLC Takes $230,000 Position in Amgen Inc. (NASDAQ:AMGN)

Peak Asset Management LLC acquired a new stake in Amgen Inc. (NASDAQ:AMGN) during the 1st quarter, Holdings Channel reports. The institutional investor acquired 739 shares of the medical research company’s stock, valued at approximately $230,000.

Several other institutional investors also recently bought and sold shares of the company. Beck Mack & Oliver LLC increased its stake in shares of Amgen by 0.7% during the 4th quarter. Beck Mack & Oliver LLC now owns 4,623 shares of the medical research company’s stock valued at $1,205,000 after acquiring an additional 34 shares during the last quarter. Continuum Advisory LLC increased its stake in shares of Amgen by 0.7% during the 4th quarter. Continuum Advisory LLC now owns 5,154 shares of the medical research company’s stock valued at $1,343,000 after acquiring an additional 35 shares during the last quarter. Octavia Wealth Advisors LLC increased its position in Amgen by 1.5% during 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. Affinity Capital Advisors LLC increased its position in 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 purchasing an additional 37 shares in the last quarter. Finally, Accredited Investors Inc. increased its position in Amgen by 1.7% during the 1st quarter. Accredited Investors Inc. now owns 2,164 shares of the medical research company’s stock worth $674,000 after purchasing an additional 37 shares in the last quarter. 76.50% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, SVP Rachna Khosla sold 1,500 shares of the company’s stock in a transaction that occurred 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 sale, the senior vice president owned 8,162 shares in the company, valued at $2,364,368.16. This represents a 15.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.76% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Bank of America boosted their target price on shares of Amgen from $252.00 to $261.00 and gave the stock an “underperform” rating in a research report on Wednesday. Piper Sandler reaffirmed an “overweight” rating and set a $328.00 target price on shares of Amgen in a report on Friday, June 27th. Guggenheim initiated coverage on Amgen in a research note on Tuesday, May 20th. They issued a “neutral” rating and a $288.00 price target on the stock. Citigroup lifted their price target on Amgen from $300.00 to $305.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 22nd. Finally, Mizuho raised their price objective on Amgen from $235.00 to $280.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 7th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $307.27.

Amgen Stock Performance

Shares of AMGN stock opened at $306.58 on Friday. The company has a debt-to-equity ratio of 8.70, a current ratio of 1.17 and a quick ratio of 0.88. The stock has a market cap of $164.85 billion, a PE ratio of 27.97, a price-to-earnings-growth ratio of 2.65 and a beta of 0.49. The stock has a 50-day moving average of $289.39 and a 200-day moving average of $290.88. Amgen Inc. has a one year low of $253.30 and a one year high of $340.89.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Thursday, May 1st. The medical research company reported $4.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.18 by $0.72. Amgen had a return on equity of 176.11% and a net margin of 17.39%. The business had revenue of $8.15 billion during the quarter, compared to analyst estimates of $8.05 billion. During the same period in the previous year, the firm earned $3.96 EPS. Amgen’s quarterly revenue was up 9.4% compared to the same quarter last year. As a group, sell-side analysts expect that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Company 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.