NorthRock Partners LLC Boosts Holdings in Amgen Inc. (NASDAQ:AMGN)

NorthRock Partners LLC lifted its position in Amgen Inc. (NASDAQ:AMGN) by 7.6% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 11,071 shares of the medical research company’s stock after purchasing an additional 780 shares during the period. NorthRock Partners LLC’s holdings in Amgen were worth $3,449,000 as of its most recent SEC filing.

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

Insiders Place Their Bets

In other Amgen news, SVP Rachna Khosla sold 1,500 shares of the business’s stock in a transaction dated Thursday, June 5th. The stock was 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. The trade was a 15.52% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.69% of the company’s stock.

Amgen Price Performance

AMGN opened at $303.56 on Wednesday. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $340.89. The stock has a 50-day moving average price of $290.47 and a 200-day moving average price of $291.42. 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 firm has a market cap of $163.23 billion, a PE ratio of 27.70, a P/E/G ratio of 2.61 and a beta of 0.49.

Amgen (NASDAQ:AMGN) last issued its earnings results 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. 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 quarter in the previous year, the firm earned $3.96 EPS. Amgen’s revenue was up 9.4% on a year-over-year basis. Sell-side analysts predict that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on AMGN. Royal Bank Of Canada cut their price target on shares of Amgen from $324.00 to $320.00 and set an “outperform” rating on the stock in a report on Friday, May 2nd. UBS Group lifted their price target on shares of Amgen from $315.00 to $326.00 and gave the company a “neutral” rating in a report on Monday, July 21st. Mizuho lifted their price target on shares of Amgen from $235.00 to $280.00 and gave the company a “neutral” rating in a report on Wednesday, May 7th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $305.00 price target on shares of Amgen in a report on Tuesday, June 24th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $328.00 price target on shares of Amgen in a report on Friday, June 27th. Two investment 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 presently has a consensus rating of “Hold” and a consensus target price of $307.27.

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.