Curbstone Financial Management Corp Raises Stock Position in Amgen Inc. (NASDAQ:AMGN)

Curbstone Financial Management Corp raised its stake in Amgen Inc. (NASDAQ:AMGN) by 22.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,334 shares of the medical research company’s stock after buying an additional 422 shares during the period. Curbstone Financial Management Corp’s holdings in Amgen were worth $727,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in AMGN. Centricity Wealth Management LLC purchased a new position in Amgen in the fourth quarter valued at about $25,000. Pinney & Scofield Inc. purchased a new position in Amgen in the fourth quarter valued at about $26,000. Ritter Daniher Financial Advisory LLC DE increased its stake in shares of Amgen by 66.2% during the 4th quarter. Ritter Daniher Financial Advisory LLC DE now owns 128 shares of the medical research company’s stock worth $33,000 after purchasing an additional 51 shares in the last quarter. Synergy Investment Management LLC purchased a new position in shares of Amgen during the 4th quarter worth approximately $34,000. Finally, Atala Financial Inc purchased a new position in shares of Amgen during the 4th quarter worth approximately $34,000. 76.50% of the stock is owned by hedge funds and other institutional investors.

Amgen Stock Up 1.2%

Shares of NASDAQ AMGN opened at $293.43 on Wednesday. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $346.85. The firm has a fifty day moving average of $280.93 and a 200-day moving average of $285.41. The stock has a market capitalization of $157.78 billion, a PE ratio of 38.86, a P/E/G ratio of 2.63 and a beta of 0.51. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 9.62.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Thursday, May 1st. The medical research company reported $4.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.18 by $0.72. Amgen had a net margin of 12.24% and a return on equity of 176.32%. The company had revenue of $8.15 billion during the quarter, compared to analysts’ expectations of $8.05 billion. During the same period in the previous year, the company earned $3.96 EPS. The business’s quarterly revenue was up 9.4% compared to the same quarter last year. On average, analysts anticipate that Amgen Inc. will post 20.62 EPS for the current year.

Insider Buying and Selling

In related news, SVP Rachna Khosla sold 1,500 shares of the company’s stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $289.68, for a total transaction of $434,520.00. Following the completion of the sale, the senior vice president now directly owns 8,162 shares of the company’s stock, valued at approximately $2,364,368.16. This represents a 15.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.76% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have recently weighed in on AMGN. Piper Sandler dropped their price objective on shares of Amgen from $329.00 to $328.00 and set an “overweight” rating for the company in a research note on Friday, May 16th. Mizuho raised their price objective on shares of Amgen from $235.00 to $280.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 7th. Morgan Stanley reissued an “equal weight” rating on shares of Amgen in a research note on Friday, May 2nd. Guggenheim began coverage on shares of Amgen in a research note on Tuesday, May 20th. They set a “neutral” rating and a $288.00 price objective for the company. Finally, Wall Street Zen raised shares of Amgen from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 18th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $309.22.

Amgen Company 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.