Inscription Capital LLC Purchases New Holdings in Amgen Inc. (NASDAQ:AMGN) (2024)

Inscription Capital LLC bought a new position in shares of Amgen Inc. (NASDAQ:AMGN – Free Report) during the first quarter, HoldingsChannel reports. The firm bought 1,225 shares of the medical research company’s stock, valued at approximately $331,000.

A number of other large investors also recently bought and sold shares of the company. Fuller & Thaler Asset Management Inc. increased its position in Amgen by 1.7% in the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 11,658 shares of the medical research company’s stock valued at $3,133,000 after acquiring an additional 193 shares during the period. Diversified Trust Co boosted its stake in Amgen by 76.8% during the 4th quarter. Diversified Trust Co now owns 37,695 shares of the medical research company’s stock valued at $10,857,000 after purchasing an additional 16,376 shares in the last quarter. Provence Wealth Management Group boosted its stake in Amgen by 11.9% during the 4th quarter. Provence Wealth Management Group now owns 1,445 shares of the medical research company’s stock valued at $416,000 after purchasing an additional 154 shares in the last quarter. Kinsale Capital Group Inc. boosted its stake in Amgen by 33.0% during the 4th quarter. Kinsale Capital Group Inc. now owns 11,348 shares of the medical research company’s stock valued at $3,269,000 after purchasing an additional 2,814 shares in the last quarter. Finally, Global Wealth Management Investment Advisory Inc. boosted its stake in shares of Amgen by 2.4% during the 4th quarter. Global Wealth Management Investment Advisory Inc. now owns 4,733 shares of the medical research company’s stock worth $1,363,000 after acquiring an additional 109 shares in the last quarter. Institutional investors own 76.50% of the company’s stock.

Analyst Ratings Changes

AMGN has been the subject of several recent analyst reports. TD Cowen decreased their target price on Amgen from $370.00 to $360.00 and set a “buy” rating for the company in a research report on Wednesday, April 17th. UBS Group raised their target price on Amgen from $284.00 to $307.00 and gave the stock a “neutral” rating in a research report on Friday, May 3rd. Morgan Stanley raised their target price on Amgen from $271.00 to $310.00 and gave the stock an “equal weight” rating in a research report on Friday, May 3rd. Barclays upgraded Amgen from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $230.00 to $300.00 in a report on Friday, May 3rd. Finally, Mizuho increased their price objective on Amgen from $223.00 to $235.00 and gave the stock a “neutral” rating in a report on Thursday, May 9th. Ten analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $305.85.

Get Our Latest Stock Analysis on Amgen

Amgen Stock Performance

Shares of NASDAQ:AMGN opened at $308.16 on Friday. The company’s 50 day simple moving average is $296.57 and its 200 day simple moving average is $290.55. The stock has a market capitalization of $165.31 billion, a price-to-earnings ratio of 44.02, a price-to-earnings-growth ratio of 2.80 and a beta of 0.60. The company has a debt-to-equity ratio of 11.96, a current ratio of 1.42 and a quick ratio of 0.98. Amgen Inc. has a 1 year low of $218.44 and a 1 year high of $329.72.

Amgen (NASDAQ:AMGN – Get Free Report) last released its earnings results on Thursday, May 2nd. The medical research company reported $3.96 earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 12.74% and a return on equity of 156.21%. Amgen’s revenue for the quarter was up 22.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.98 earnings per share. As a group, research analysts predict that Amgen Inc. will post 19.47 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Nancy A. Grygiel sold 2,117 shares of the 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 directly owns 9,883 shares of the company’s stock, valued at approximately $3,094,268.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.69% of the stock is currently owned by insiders.

Amgen Profile

(Free Report)

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.

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