Kennedy Capital Management LLC Invests $3.24 Million in Amgen Inc. (NASDAQ:AMGN)

Kennedy Capital Management LLC acquired a new stake in Amgen Inc. (NASDAQ:AMGN) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 11,397 shares of the medical research company’s stock, valued at approximately $3,240,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AMGN. Bayesian Capital Management LP acquired a new position in Amgen during the 1st quarter worth approximately $2,082,000. Waverly Advisors LLC grew its position in Amgen by 54.4% during the 1st quarter. Waverly Advisors LLC now owns 9,628 shares of the medical research company’s stock worth $2,737,000 after acquiring an additional 3,393 shares during the last quarter. Captrust Financial Advisors increased its holdings in Amgen by 59.6% in the 1st quarter. Captrust Financial Advisors now owns 645,523 shares of the medical research company’s stock worth $183,535,000 after purchasing an additional 241,179 shares in the last quarter. SVB Wealth LLC raised its position in Amgen by 5.7% in the first quarter. SVB Wealth LLC now owns 28,797 shares of the medical research company’s stock valued at $8,188,000 after purchasing an additional 1,544 shares during the last quarter. Finally, Mount Yale Investment Advisors LLC boosted its stake in shares of Amgen by 5.8% during the first quarter. Mount Yale Investment Advisors LLC now owns 5,696 shares of the medical research company’s stock valued at $1,619,000 after purchasing an additional 311 shares in the last quarter. Institutional investors own 76.50% of the company’s stock.

Insiders Place Their Bets

In related news, SVP Nancy A. Grygiel sold 2,117 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $313.09, for a total transaction of $662,811.53. Following the completion of the transaction, the senior vice president now owns 9,883 shares of the company’s stock, valued at $3,094,268.47. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.69% of the stock is owned by corporate insiders.

Amgen Stock Performance

Shares of AMGN stock traded up $1.40 during trading on Wednesday, hitting $334.68. The company’s stock had a trading volume of 360,658 shares, compared to its average volume of 2,630,480. The company has a current ratio of 1.42, a quick ratio of 0.98 and a debt-to-equity ratio of 11.96. The company has a market cap of $179.53 billion, a PE ratio of 47.61, a P/E/G ratio of 2.76 and a beta of 0.58. The business has a fifty day moving average of $314.69 and a 200-day moving average of $297.64. Amgen Inc. has a 52 week low of $228.21 and a 52 week high of $346.85.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results on Thursday, May 2nd. The medical research company reported $3.96 earnings per share for the quarter, topping the consensus estimate of $3.76 by $0.20. Amgen had a return on equity of 156.21% and a net margin of 12.74%. The company had revenue of $7.45 billion during the quarter, compared to the consensus estimate of $7.45 billion. The firm’s quarterly revenue was up 22.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.98 EPS. As a group, research analysts anticipate that Amgen Inc. will post 19.5 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts recently commented on AMGN shares. Argus lifted their target price on shares of Amgen from $300.00 to $340.00 and gave the stock a “buy” rating in a research report on Thursday, June 27th. TD Cowen decreased their price objective on Amgen from $370.00 to $360.00 and set a “buy” rating for the company in a report on Wednesday, April 17th. Morgan Stanley lowered their target price on Amgen from $310.00 to $303.00 and set an “equal weight” rating for the company in a research report on Thursday, July 11th. Barclays upgraded Amgen from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $230.00 to $300.00 in a research report on Friday, May 3rd. Finally, StockNews.com upgraded Amgen from a “hold” rating to a “buy” rating in a research report on Friday, May 3rd. Ten research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $312.63.

About Amgen

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.