Amgen Inc. (NASDAQ:AMGN) Shares Purchased by Lake Street Private Wealth LLC

Lake Street Private Wealth LLC raised its stake in Amgen Inc. (NASDAQ:AMGN) by 30.4% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,173 shares of the medical research company’s stock after acquiring an additional 507 shares during the quarter. Lake Street Private Wealth LLC’s holdings in Amgen were worth $618,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in AMGN. Norges Bank acquired a new position in shares of Amgen in the fourth quarter valued at approximately $1,556,912,000. International Assets Investment Management LLC acquired a new position in Amgen in the 4th quarter valued at $4,589,900,000. Royal Bank of Canada lifted its stake in shares of Amgen by 14.8% during the 4th quarter. Royal Bank of Canada now owns 5,831,624 shares of the medical research company’s stock worth $1,679,625,000 after purchasing an additional 751,947 shares during the period. Assenagon Asset Management S.A. boosted its holdings in shares of Amgen by 486.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 899,232 shares of the medical research company’s stock worth $258,997,000 after purchasing an additional 745,929 shares during the last quarter. Finally, abrdn plc grew its position in shares of Amgen by 150.4% in the fourth quarter. abrdn plc now owns 1,043,609 shares of the medical research company’s stock valued at $300,580,000 after purchasing an additional 626,810 shares during the period. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Amgen Stock Performance

NASDAQ:AMGN opened at $309.38 on Thursday. The firm has a 50-day moving average of $303.09 and a two-hundred day moving average of $292.80. 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 stock has a market cap of $165.96 billion, a P/E ratio of 44.20, a PEG ratio of 2.81 and a beta of 0.58. Amgen Inc. has a 1-year low of $218.44 and a 1-year high of $329.72.

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

Insider Transactions at Amgen

In related news, SVP Nancy A. Grygiel sold 2,117 shares of the company’s 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 of the company’s stock, valued at $3,094,268.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.69% of the company’s stock.

Analysts Set New Price Targets

AMGN has been the topic of several recent analyst reports. Mizuho increased their target price on Amgen from $223.00 to $235.00 and gave the stock a “neutral” rating in a research report on Thursday, May 9th. Raymond James initiated coverage on shares of Amgen in a research report on Thursday, March 28th. They issued a “market perform” rating on the stock. Morgan Stanley upped their price target on shares of Amgen from $271.00 to $310.00 and gave the stock an “equal weight” rating in a research report on Friday, May 3rd. BMO Capital Markets lifted their price target on shares of Amgen from $336.00 to $355.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. Finally, Royal Bank of Canada boosted their price target on Amgen from $328.00 to $332.00 and gave the company an “outperform” rating in a research report on Friday, June 14th. Ten investment 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 has an average rating of “Moderate Buy” and a consensus price target of $307.35.

Amgen 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.