1,309 Shares in Amgen Inc. (NASDAQ:AMGN) Purchased by Sunpointe LLC

Sunpointe LLC bought a new stake in Amgen Inc. (NASDAQ:AMGN) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 1,309 shares of the medical research company’s stock, valued at approximately $377,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank bought a new stake in Amgen in the 4th quarter valued at $1,556,912,000. International Assets Investment Management LLC acquired a new stake in shares of Amgen during the 4th quarter worth about $4,589,900,000. Royal Bank of Canada boosted its holdings 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 buying an additional 751,947 shares during the period. Assenagon Asset Management S.A. grew its stake in Amgen by 486.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 899,232 shares of the medical research company’s stock valued at $258,997,000 after buying an additional 745,929 shares during the last quarter. Finally, abrdn plc raised its holdings in Amgen by 150.4% in the 4th quarter. abrdn plc now owns 1,043,609 shares of the medical research company’s stock valued at $300,580,000 after acquiring an additional 626,810 shares during the period. Institutional investors own 76.50% of the company’s stock.

Analyst Ratings Changes

AMGN has been the topic of a number of recent research reports. Morgan Stanley raised their price objective on Amgen from $271.00 to $310.00 and gave the stock an “equal weight” rating in a research note on Friday, May 3rd. TD Cowen cut their target price on Amgen from $370.00 to $360.00 and set a “buy” rating on the stock in a report on Wednesday, April 17th. BMO Capital Markets raised their price objective on Amgen from $336.00 to $355.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. Truist Financial reissued a “buy” rating and set a $320.00 target price on shares of Amgen in a research report on Friday, April 12th. Finally, Raymond James began coverage on shares of Amgen in a research note on Thursday, March 28th. They issued a “market perform” rating on the stock. Ten analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, Amgen has an average rating of “Moderate Buy” and an average price target of $305.85.

Insider Buying and Selling at Amgen

In other news, SVP Nancy A. Grygiel sold 2,117 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $313.09, for a total transaction 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 filing with the Securities & Exchange Commission, which can be accessed through this link. 0.69% of the stock is currently owned by company insiders.

Amgen Stock Up 0.0 %

Shares of NASDAQ:AMGN traded up $0.12 during trading on Friday, reaching $298.62. 1,711,994 shares of the stock traded hands, compared to its average volume of 2,756,564. The stock has a 50-day moving average of $292.77 and a two-hundred day moving average of $289.25. The company has a debt-to-equity ratio of 11.96, a quick ratio of 0.98 and a current ratio of 1.42. Amgen Inc. has a 52-week low of $218.44 and a 52-week high of $329.72. The stock has a market cap of $160.19 billion, a P/E ratio of 42.66, a price-to-earnings-growth ratio of 2.72 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 EPS for the quarter, topping analysts’ consensus estimates of $3.76 by $0.20. The business had revenue of $7.45 billion during the quarter, compared to analysts’ expectations of $7.45 billion. Amgen had a return on equity of 156.21% and a net margin of 12.74%. The business’s quarterly revenue was up 22.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.98 earnings per share. As a group, sell-side analysts expect that Amgen Inc. will post 19.47 earnings per share for the current fiscal year.

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.