Concurrent Investment Advisors LLC Raises Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

Concurrent Investment Advisors LLC boosted its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 10.1% during the first quarter, HoldingsChannel.com reports. The firm owned 21,480 shares of the medical research company’s stock after purchasing an additional 1,978 shares during the period. Concurrent Investment Advisors LLC’s holdings in Amgen were worth $6,692,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Pinney & Scofield Inc. purchased a new position in Amgen during the fourth quarter worth approximately $26,000. First Pacific Financial lifted its position in shares of 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 lifted its position in shares of 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. Atala Financial Inc purchased a new position in shares of Amgen in the fourth quarter valued at approximately $34,000. Finally, Heck Capital Advisors LLC purchased a new position in shares of Amgen in the fourth quarter valued at approximately $36,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Insider Buying and Selling

In other Amgen news, SVP Rachna Khosla sold 1,500 shares of Amgen stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $289.68, for a total value of $434,520.00. Following the sale, the senior vice president owned 8,162 shares in the company, valued at $2,364,368.16. The trade was a 15.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.76% of the stock is owned by corporate insiders.

Amgen Price Performance

Amgen stock opened at $298.25 on Friday. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $346.85. The company has a current ratio of 1.17, a quick ratio of 0.88 and a debt-to-equity ratio of 8.70. The stock has a market cap of $160.37 billion, a P/E ratio of 27.21, a PEG ratio of 2.70 and a beta of 0.49. The company has a 50-day moving average price of $282.47 and a 200 day moving average price of $286.99.

Amgen (NASDAQ:AMGN) last posted its earnings results on Thursday, May 1st. The medical research company reported $4.90 EPS for the quarter, beating 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 company had revenue of $8.15 billion for the quarter, compared to the consensus estimate of $8.05 billion. During the same quarter in the previous year, the business earned $3.96 earnings per share. The company’s revenue for the quarter was up 9.4% on a year-over-year basis. Sell-side analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Royal Bank Of Canada decreased their target price on Amgen from $324.00 to $320.00 and set an “outperform” rating on the stock in a research report on Friday, May 2nd. Guggenheim assumed coverage on Amgen in a research report on Tuesday, May 20th. They issued a “neutral” rating and a $288.00 target price on the stock. Piper Sandler restated an “overweight” rating and issued a $328.00 target price on shares of Amgen in a research report on Friday, June 27th. Mizuho raised their target price on Amgen from $235.00 to $280.00 and gave the company a “neutral” rating in a research report on Wednesday, May 7th. Finally, UBS Group restated a “neutral” rating and issued a $315.00 target price (down previously from $319.00) on shares of Amgen in a research report on Friday, May 2nd. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $307.82.

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.