Amgen Inc. (NASDAQ:AMGN) Shares Acquired by Cullinan Associates Inc.

Cullinan Associates Inc. lifted its stake in Amgen Inc. (NASDAQ:AMGN) by 12.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 174,620 shares of the medical research company’s stock after buying an additional 18,733 shares during the period. Amgen comprises approximately 2.8% of Cullinan Associates Inc.’s holdings, making the stock its 7th largest holding. Cullinan Associates Inc.’s holdings in Amgen were worth $49,648,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. BOK Financial Private Wealth Inc. bought a new position in Amgen in the 4th quarter valued at $29,000. United Community Bank bought a new position in Amgen in the 4th quarter valued at $29,000. Planned Solutions Inc. acquired a new position in shares of Amgen in the 4th quarter valued at $30,000. Delos Wealth Advisors LLC lifted its stake in shares of Amgen by 2,500.0% in the 4th quarter. Delos Wealth Advisors LLC now owns 104 shares of the medical research company’s stock valued at $30,000 after purchasing an additional 100 shares during the period. Finally, Hartford Financial Management Inc. lifted its stake in shares of Amgen by 56.9% in the 4th quarter. Hartford Financial Management Inc. now owns 113 shares of the medical research company’s stock valued at $33,000 after purchasing an additional 41 shares during the period. 76.50% of the stock is currently owned by institutional investors.

Amgen Price Performance

AMGN traded down $1.53 during trading on Tuesday, hitting $309.48. 396,255 shares of the stock traded hands, compared to its average volume of 2,764,185. Amgen Inc. has a twelve month low of $218.44 and a twelve month high of $329.72. The company has a market cap of $166.01 billion, a price-to-earnings ratio of 44.43, a PEG ratio of 2.82 and a beta of 0.58. 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 business has a 50 day moving average price of $301.56 and a 200 day moving average price of $292.30.

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

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on AMGN. Raymond James began coverage on Amgen in a research note on Thursday, March 28th. They issued a “market perform” rating on the stock. Royal Bank of Canada raised their price objective on Amgen from $328.00 to $332.00 and gave the stock an “outperform” rating in a research note on Friday, June 14th. Mizuho lifted their price target on Amgen from $223.00 to $235.00 and gave the company a “neutral” rating in a research note on Thursday, May 9th. Truist Financial restated a “buy” rating and issued a $320.00 price objective on shares of Amgen in a report on Friday, April 12th. Finally, William Blair upgraded Amgen from a “market perform” rating to an “outperform” rating in a report on Friday, May 3rd. Ten analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Amgen presently has an average rating of “Moderate Buy” and a consensus price target of $307.35.

Insider Buying and Selling at Amgen

In related news, SVP Nancy A. Grygiel sold 2,117 shares of the business’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 owns 9,883 shares of the company’s stock, valued at $3,094,268.47. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.69% of the company’s stock.

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.