Firethorn Wealth Partners LLC Takes Position in Amgen Inc. (NASDAQ:AMGN)

Firethorn Wealth Partners LLC bought a new stake in Amgen Inc. (NASDAQ:AMGN) in the 1st quarter, Holdings Channel.com reports. The fund bought 666 shares of the medical research company’s stock, valued at approximately $208,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Ascent Wealth Partners LLC grew its stake in shares of Amgen by 0.7% during the fourth quarter. Ascent Wealth Partners LLC now owns 9,024 shares of the medical research company’s stock worth $2,352,000 after purchasing an additional 64 shares during the period. ICICI Prudential Asset Management Co Ltd grew its holdings in Amgen by 242.2% during the fourth quarter. ICICI Prudential Asset Management Co Ltd now owns 23,999 shares of the medical research company’s stock valued at $6,255,000 after purchasing an additional 16,985 shares during the period. Fisher Asset Management LLC grew its holdings in Amgen by 285.4% during the fourth quarter. Fisher Asset Management LLC now owns 394,489 shares of the medical research company’s stock valued at $102,820,000 after purchasing an additional 292,137 shares during the period. Aire Advisors LLC grew its holdings in Amgen by 26.3% during the fourth quarter. Aire Advisors LLC now owns 13,280 shares of the medical research company’s stock valued at $3,461,000 after purchasing an additional 2,762 shares during the period. Finally, Beacon Harbor Wealth Advisors Inc. acquired a new position in Amgen during the fourth quarter valued at approximately $3,531,000. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Amgen Trading Down 0.9%

AMGN stock opened at $287.01 on Thursday. The company has a fifty day moving average price of $282.39 and a two-hundred day moving average price of $285.31. The company has a debt-to-equity ratio of 9.62, a current ratio of 1.26 and a quick ratio of 0.95. The stock has a market cap of $154.33 billion, a price-to-earnings ratio of 38.01, a price-to-earnings-growth ratio of 2.63 and a beta of 0.51. Amgen Inc. has a one year low of $253.30 and a one year high of $346.85.

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

Analyst Ratings Changes

Several brokerages recently issued reports on AMGN. Erste Group Bank lowered Amgen from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 8th. Johnson Rice set a $294.00 price objective on Amgen in a research report on Wednesday, March 5th. Bank of America upped their price target on shares of Amgen from $275.00 to $294.00 and gave the company an “underperform” rating in a report on Wednesday, March 5th. Cantor Fitzgerald assumed coverage on shares of Amgen in a report on Tuesday, April 22nd. They issued a “neutral” rating and a $305.00 price target for the company. Finally, Wells Fargo & Company reaffirmed an “equal weight” rating on shares of Amgen in a research note on Wednesday, February 5th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $309.22.

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.