Norway Savings Bank Purchases 640 Shares of Amgen Inc. (NASDAQ:AMGN)

Norway Savings Bank raised its position in shares of Amgen Inc. (NASDAQ:AMGN) by 25.9% in the 1st quarter, Holdings Channel reports. The firm owned 3,111 shares of the medical research company’s stock after acquiring an additional 640 shares during the period. Norway Savings Bank’s holdings in Amgen were worth $885,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AMGN. BOK Financial Private Wealth Inc. acquired a new position in shares of Amgen during the 4th quarter worth $29,000. United Community Bank bought a new position in shares of Amgen in the fourth quarter worth about $29,000. Planned Solutions Inc. bought a new stake in shares of Amgen during the 4th quarter valued at approximately $30,000. Delos Wealth Advisors LLC increased its position in Amgen by 2,500.0% during the 4th quarter. Delos Wealth Advisors LLC now owns 104 shares of the medical research company’s stock worth $30,000 after purchasing an additional 100 shares in the last quarter. Finally, Hartford Financial Management Inc. lifted its stake in Amgen by 56.9% in the 4th quarter. Hartford Financial Management Inc. now owns 113 shares of the medical research company’s stock valued at $33,000 after purchasing an additional 41 shares during the last quarter. 76.50% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

AMGN has been the topic of a number of research reports. Morgan Stanley boosted their target price on shares of Amgen from $271.00 to $310.00 and gave the stock an “equal weight” rating in a research note on Friday, May 3rd. StockNews.com raised Amgen from a “hold” rating to a “buy” rating in a report on Friday, May 3rd. BMO Capital Markets lifted their price target on Amgen from $336.00 to $355.00 and gave the company an “outperform” rating in a research note on Friday, May 3rd. Barclays upgraded Amgen from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $230.00 to $300.00 in a report on Friday, May 3rd. Finally, Argus raised their price objective on shares of Amgen from $300.00 to $340.00 and gave the company a “buy” rating in a report on Thursday. Ten investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $307.35.

Amgen Stock Down 0.4 %

Shares of NASDAQ:AMGN opened at $312.45 on Friday. Amgen Inc. has a 1 year low of $218.44 and a 1 year high of $329.72. The company has a debt-to-equity ratio of 11.96, a current ratio of 1.42 and a quick ratio of 0.98. The business’s 50-day moving average is $301.56 and its 200-day moving average is $292.10. The company has a market capitalization of $167.61 billion, a price-to-earnings ratio of 44.64, a P/E/G ratio of 2.83 and a beta of 0.60.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Thursday, May 2nd. The medical research company reported $3.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.76 by $0.20. The firm had revenue of $7.45 billion for the quarter, compared to analyst estimates of $7.45 billion. Amgen had a return on equity of 156.21% and a net margin of 12.74%. The company’s revenue was up 22.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.98 earnings per share. Equities research analysts predict that Amgen Inc. will post 19.47 earnings per share for the current year.

Insider Activity at Amgen

In other Amgen news, SVP Nancy A. Grygiel sold 2,117 shares of Amgen stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $313.09, for a total value of $662,811.53. Following the completion of the sale, the senior vice president now directly owns 9,883 shares of the company’s stock, valued at $3,094,268.47. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.69% of the stock is owned by corporate insiders.

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.