Tributary Capital Management LLC Buys 510 Shares of Amgen Inc. (NASDAQ:AMGN)

Tributary Capital Management LLC raised its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 30.7% in the first quarter, Holdings Channel.com reports. The firm owned 2,173 shares of the medical research company’s stock after purchasing an additional 510 shares during the period. Tributary Capital Management LLC’s holdings in Amgen were worth $618,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. BOK Financial Private Wealth Inc. bought a new position in shares of Amgen during the fourth quarter valued at approximately $29,000. United Community Bank purchased a new stake in shares of Amgen during the fourth quarter valued at approximately $29,000. Planned Solutions Inc. purchased a new stake in shares of Amgen during the fourth quarter valued at approximately $30,000. Delos Wealth Advisors LLC grew its holdings in shares of Amgen by 2,500.0% during the fourth quarter. Delos Wealth Advisors LLC now owns 104 shares of the medical research company’s stock valued at $30,000 after buying an additional 100 shares during the last quarter. Finally, Hartford Financial Management Inc. grew its holdings in shares of Amgen by 56.9% during the fourth quarter. Hartford Financial Management Inc. now owns 113 shares of the medical research company’s stock valued at $33,000 after buying an additional 41 shares during the last quarter. Institutional investors own 76.50% of the company’s stock.

Insider Buying and Selling 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 sale, the senior vice president now directly owns 9,883 shares in the company, valued at approximately $3,094,268.47. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.69% of the stock is currently owned by insiders.

Amgen Price Performance

Shares of AMGN stock traded down $3.17 on Tuesday, hitting $307.84. 112,186 shares of the stock traded hands, compared to its average volume of 2,761,883. The firm has a market cap of $165.13 billion, a price-to-earnings ratio of 44.43, a PEG ratio of 2.82 and a beta of 0.58. Amgen Inc. has a 52 week low of $218.44 and a 52 week high of $329.72. The firm has a 50 day simple moving average of $301.56 and a two-hundred day simple moving average of $292.30. The company has a debt-to-equity ratio of 11.96, a current ratio of 1.42 and a quick ratio of 0.98.

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

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. UBS Group increased their price target on shares of Amgen from $284.00 to $307.00 and gave the company a “neutral” rating in a report on Friday, May 3rd. StockNews.com upgraded shares of Amgen from a “hold” rating to a “buy” rating in a report on Friday, May 3rd. TD Cowen dropped their target price on shares of Amgen from $370.00 to $360.00 and set a “buy” rating on the stock in a report on Wednesday, April 17th. William Blair upgraded shares of Amgen from a “market perform” rating to an “outperform” rating in a report on Friday, May 3rd. Finally, Barclays upgraded shares of Amgen from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $230.00 to $300.00 in a report on Friday, May 3rd. Ten analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $307.35.

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.