Mackenzie Financial Corp Grows Stake in Amgen Inc. (NASDAQ:AMGN)

Mackenzie Financial Corp increased its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 5.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 176,929 shares of the medical research company’s stock after purchasing an additional 9,737 shares during the quarter. Mackenzie Financial Corp’s holdings in Amgen were worth $55,122,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Beck Mack & Oliver LLC lifted its stake in shares of Amgen by 0.7% in 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 purchasing an additional 34 shares during the last quarter. Continuum Advisory LLC lifted 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 worth $1,343,000 after acquiring an additional 35 shares during the last quarter. Octavia Wealth Advisors LLC lifted its stake in shares of 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 acquiring an additional 35 shares during the last quarter. Affinity Capital Advisors LLC raised 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 valued at $246,000 after purchasing an additional 37 shares in the last quarter. Finally, Accredited Investors Inc. raised 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 valued at $674,000 after purchasing an additional 37 shares in the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Analyst Upgrades and Downgrades

AMGN has been the topic of a number of analyst reports. Bank of America lifted their price target on Amgen from $252.00 to $261.00 and gave the company an “underperform” rating in a report on Wednesday, July 23rd. 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. Mizuho lifted 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. UBS Group boosted their price objective on Amgen from $315.00 to $326.00 and gave the company a “neutral” rating in a report on Monday, July 21st. Finally, Guggenheim began coverage on Amgen in a report on Tuesday, May 20th. They issued a “neutral” rating and a $288.00 price target for the company. Two research 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. According to MarketBeat, Amgen has an average rating of “Hold” and a consensus target price of $307.27.

Insiders Place Their Bets

In related news, SVP Rachna Khosla sold 1,500 shares of the firm’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 approximately $2,364,368.16. This trade represents a 15.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.69% of the company’s stock.

Amgen Price Performance

AMGN opened at $301.29 on Tuesday. The firm has a market cap of $162.01 billion, a price-to-earnings ratio of 27.49, a price-to-earnings-growth 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’s 50-day moving average price is $289.90 and its 200 day moving average price is $291.34. 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 (NASDAQ:AMGN) last posted its earnings results on Thursday, May 1st. The medical research company reported $4.90 EPS for the quarter, topping the consensus estimate of $4.18 by $0.72. The firm had revenue of $8.15 billion during the quarter, compared to analysts’ expectations of $8.05 billion. Amgen had a net margin of 17.39% and a return on equity of 176.11%. Amgen’s quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.96 EPS. 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.