Foundations Investment Advisors LLC Raises Holdings in Amgen Inc. (NASDAQ:AMGN)

Foundations Investment Advisors LLC grew its position in shares of Amgen Inc. (NASDAQ:AMGN) by 9.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,759 shares of the medical research company’s stock after purchasing an additional 2,143 shares during the period. Foundations Investment Advisors LLC’s holdings in Amgen were worth $7,714,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Pinney & Scofield Inc. purchased a new position in Amgen in the fourth quarter worth about $26,000. First Pacific Financial grew its position in Amgen by 304.5% in the first quarter. First Pacific Financial now owns 89 shares of the medical research company’s stock worth $28,000 after acquiring an additional 67 shares in the last quarter. Ritter Daniher Financial Advisory LLC DE grew its position in Amgen by 66.2% in the fourth quarter. Ritter Daniher Financial Advisory LLC DE now owns 128 shares of the medical research company’s stock worth $33,000 after acquiring an additional 51 shares in the last quarter. Heck Capital Advisors LLC purchased a new position in Amgen in the fourth quarter worth about $36,000. Finally, Legacy Investment Solutions LLC grew its position in Amgen by 46.9% in the fourth quarter. Legacy Investment Solutions LLC now owns 141 shares of the medical research company’s stock worth $37,000 after acquiring an additional 45 shares in the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on AMGN shares. Wall Street Zen upgraded Amgen from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 18th. Mizuho boosted their target price on Amgen from $235.00 to $280.00 and gave the company a “neutral” rating in a research report on Wednesday, May 7th. Guggenheim initiated coverage on Amgen in a research report on Tuesday, May 20th. They set a “neutral” rating and a $288.00 target price for the company. Erste Group Bank lowered Amgen from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 8th. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $305.00 target price 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 given a strong buy rating to the company’s stock. According to MarketBeat.com, Amgen presently has a consensus rating of “Hold” and a consensus target price of $307.27.

Insider Buying and Selling

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 transaction, the senior vice president owned 8,162 shares of the company’s stock, valued at $2,364,368.16. The trade was a 15.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.69% of the stock is owned by company insiders.

Amgen Stock Performance

Amgen stock opened at $301.29 on Tuesday. The company has a market capitalization of $162.01 billion, a PE ratio of 27.49, a P/E/G ratio of 2.65 and a beta of 0.49. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $340.89. 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 50 day moving average price of $289.90 and a 200-day moving average price of $291.34.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Thursday, May 1st. The medical research company reported $4.90 EPS for the quarter, topping analysts’ consensus estimates of $4.18 by $0.72. The company 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%. Amgen’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.96 earnings per share. As a group, equities analysts forecast 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.