Tradewinds Capital Management LLC Boosts Stock Position in Amgen Inc. (NASDAQ:AMGN)

Tradewinds Capital Management LLC grew its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 39.7% during the first quarter, Holdings Channel reports. The institutional investor owned 211 shares of the medical research company’s stock after buying an additional 60 shares during the period. Tradewinds Capital Management LLC’s holdings in Amgen were worth $60,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. BOK Financial Private Wealth Inc. purchased a new position in Amgen during the 4th quarter valued at $29,000. United Community Bank purchased a new stake in shares of Amgen in the 4th quarter worth $29,000. Planned Solutions Inc. purchased a new stake in shares of Amgen in the 4th quarter worth $30,000. Delos Wealth Advisors LLC lifted its holdings 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 worth $30,000 after buying an additional 100 shares during the period. Finally, Hartford Financial Management Inc. lifted its holdings 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 worth $33,000 after buying an additional 41 shares during the period. 76.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. BMO Capital Markets upped their target price on Amgen from $336.00 to $355.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. StockNews.com upgraded Amgen from a “hold” rating to a “buy” rating in a report on Friday, May 3rd. William Blair raised Amgen from a “market perform” rating to an “outperform” rating in a research report on Friday, May 3rd. Argus boosted their price target on Amgen from $300.00 to $340.00 and gave the stock a “buy” rating in a research report on Thursday, June 27th. Finally, Barclays raised Amgen from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $230.00 to $300.00 in a research report on Friday, May 3rd. Ten equities research 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, the company presently has a consensus rating of “Moderate Buy” and an average price target of $307.35.

Amgen Stock Performance

Shares of AMGN stock traded down $3.24 during mid-day trading on Wednesday, reaching $307.53. The stock had a trading volume of 446,332 shares, compared to its average volume of 2,754,962. The business’s fifty day moving average is $303.09 and its 200-day moving average is $292.80. 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 firm has a market cap of $164.97 billion, a price-to-earnings ratio of 44.50, a PEG ratio of 2.82 and a beta of 0.58. Amgen Inc. has a 1-year low of $218.44 and a 1-year high of $329.72.

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

Insider Transactions at Amgen

In other news, SVP Nancy A. Grygiel sold 2,117 shares of the company’s stock in a transaction dated Friday, May 3rd. The stock was 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 in the company, valued at $3,094,268.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.69% of the company’s stock.

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.