MV Capital Management Inc. Has $2.27 Million Stake in Amgen Inc. (NASDAQ:AMGN)

MV Capital Management Inc. increased its position in shares of Amgen Inc. (NASDAQ:AMGN) by 2.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,965 shares of the medical research company’s stock after purchasing an additional 180 shares during the period. MV Capital Management Inc.’s holdings in Amgen were worth $2,265,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in AMGN. Cullinan Associates Inc. grew its stake in shares of Amgen by 12.0% in the first quarter. Cullinan Associates Inc. now owns 174,620 shares of the medical research company’s stock valued at $49,648,000 after acquiring an additional 18,733 shares in the last quarter. Tributary Capital Management LLC raised its position in shares of Amgen by 30.7% in the first quarter. Tributary Capital Management LLC now owns 2,173 shares of the medical research company’s stock valued at $618,000 after buying an additional 510 shares in the last quarter. Steele Capital Management Inc. boosted its stake in shares of Amgen by 24.9% in the first quarter. Steele Capital Management Inc. now owns 1,288 shares of the medical research company’s stock valued at $366,000 after buying an additional 257 shares during the period. Silvia Mccoll Wealth Management LLC grew its position in Amgen by 13.1% during the first quarter. Silvia Mccoll Wealth Management LLC now owns 3,652 shares of the medical research company’s stock worth $973,000 after buying an additional 423 shares in the last quarter. Finally, Claro Advisors LLC grew its position in Amgen by 118.6% during the first quarter. Claro Advisors LLC now owns 4,691 shares of the medical research company’s stock worth $1,334,000 after buying an additional 2,545 shares in the last quarter. 76.50% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Amgen news, SVP Nancy A. Grygiel sold 2,117 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $313.09, for a total value of $662,811.53. Following the transaction, the senior vice president now owns 9,883 shares in the company, valued at $3,094,268.47. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on AMGN. Morgan Stanley upped their target price on Amgen from $271.00 to $310.00 and gave the company an “equal weight” rating in a research report on Friday, May 3rd. Raymond James initiated coverage on shares of Amgen in a research report on Thursday, March 28th. They issued a “market perform” rating for the company. StockNews.com raised shares of Amgen from a “hold” rating to a “buy” rating in a research note on Friday, May 3rd. BMO Capital Markets upped their target price on Amgen from $336.00 to $355.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. Finally, Truist Financial reiterated a “buy” rating and issued a $320.00 price target on shares of Amgen in a research note on Friday, April 12th. Ten research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $307.35.

Amgen Trading Down 0.1 %

AMGN traded down $0.24 during trading on Tuesday, hitting $310.77. The company’s stock had a trading volume of 1,542,718 shares, compared to its average volume of 2,773,284. The firm has a market capitalization of $166.71 billion, a P/E ratio of 44.47, a PEG ratio of 2.82 and a beta of 0.58. Amgen Inc. has a twelve month low of $218.44 and a twelve month high of $329.72. The stock’s fifty day moving average price is $302.34 and its 200-day moving average price is $292.55. The company has a quick ratio of 0.98, a current ratio of 1.42 and a debt-to-equity ratio of 11.96.

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