808 Shares in Amgen Inc. (NASDAQ:AMGN) Bought by Gateway Wealth Partners LLC

by · The Markets Daily

Gateway Wealth Partners LLC bought a new position in shares of Amgen Inc. (NASDAQ:AMGN – Free Report) in the 1st quarter, Holdings Channel.com reports. The fund bought 808 shares of the medical research company’s stock, valued at approximately $252,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of AMGN. Brighton Jones LLC lifted its holdings in Amgen by 23.5% during the 4th quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company’s stock worth $7,159,000 after buying an additional 5,226 shares during the last quarter. Proficio Capital Partners LLC lifted its holdings in Amgen by 35.0% during the 4th quarter. Proficio Capital Partners LLC now owns 1,806 shares of the medical research company’s stock worth $471,000 after buying an additional 468 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Amgen by 89.2% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 54,176 shares of the medical research company’s stock worth $14,120,000 after buying an additional 25,541 shares during the last quarter. Commonwealth Equity Services LLC lifted its holdings in Amgen by 3.1% during the 4th quarter. Commonwealth Equity Services LLC now owns 399,234 shares of the medical research company’s stock worth $104,056,000 after buying an additional 11,878 shares during the last quarter. Finally, Impact Capital Partners LLC purchased a new stake in Amgen during the 4th quarter worth about $234,000. 76.50% of the stock is owned by institutional investors and hedge funds.

Amgen Stock Performance

NASDAQ AMGN opened at $295.27 on Friday. 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 business’s 50 day moving average is $283.56 and its two-hundred day moving average is $287.97. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $346.85. The stock has a market capitalization of $158.77 billion, a price-to-earnings ratio of 26.94, a PEG ratio of 2.72 and a beta of 0.49.

Amgen (NASDAQ:AMGN – Get Free Report) last released its earnings results on Thursday, May 1st. The medical research company reported $4.90 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts’ expectations of $8.05 billion. During the same quarter in the previous year, the firm posted $3.96 EPS. The firm’s quarterly revenue was up 9.4% on a year-over-year basis. Research analysts expect that Amgen Inc. will post 20.62 EPS for the current year.

Insider Transactions at Amgen

In other Amgen news, SVP Rachna Khosla sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $289.68, for a total transaction of $434,520.00. Following the transaction, the senior vice president owned 8,162 shares in the company, valued at approximately $2,364,368.16. The trade was a 15.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.76% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on AMGN shares. Guggenheim started coverage on Amgen in a report on Tuesday, May 20th. They issued a “neutral” rating and a $288.00 target price for the company. Mizuho boosted their target price on Amgen from $235.00 to $280.00 and gave the company a “neutral” rating in a report on Wednesday, May 7th. William Blair reissued an “outperform” rating on shares of Amgen in a report on Tuesday, June 24th. Erste Group Bank downgraded Amgen from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 8th. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $305.00 target price on shares of Amgen in a report on Tuesday, June 24th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $307.82.

Check Out Our Latest Report on Amgen

Amgen Company Profile

(Free Report)

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.

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