Thompson Investment Management Inc. Grows Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

Thompson Investment Management Inc. lifted its position in shares of Amgen Inc. (NASDAQ:AMGN) by 0.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,335 shares of the medical research company’s stock after purchasing an additional 101 shares during the period. Thompson Investment Management Inc.’s holdings in Amgen were worth $6,024,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Centricity Wealth Management LLC bought a new position in Amgen in the 4th quarter worth $25,000. Pinney & Scofield Inc. purchased a new position in shares of Amgen during the fourth quarter valued at about $26,000. Ritter Daniher Financial Advisory LLC DE raised its stake in Amgen by 66.2% in the fourth quarter. Ritter Daniher Financial Advisory LLC DE now owns 128 shares of the medical research company’s stock worth $33,000 after buying an additional 51 shares in the last quarter. Synergy Investment Management LLC bought a new position in Amgen in the fourth quarter worth about $34,000. Finally, Atala Financial Inc purchased a new stake in Amgen in the fourth quarter worth about $34,000. 76.50% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on AMGN shares. Mizuho raised their target price on Amgen from $235.00 to $280.00 and gave the company a “neutral” rating in a research note on Wednesday, May 7th. UBS Group reissued a “neutral” rating and set a $315.00 price objective (down previously from $319.00) on shares of Amgen in a research report on Friday, May 2nd. Johnson Rice set a $294.00 target price on shares of Amgen in a report on Wednesday, March 5th. Erste Group Bank lowered shares of Amgen from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 8th. Finally, Piper Sandler dropped their price objective on shares of Amgen from $329.00 to $328.00 and set an “overweight” rating on the stock in a research note on Friday, May 16th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Amgen presently has a consensus rating of “Hold” and a consensus price target of $309.22.

Amgen Stock Up 1.2%

Amgen stock opened at $293.43 on Wednesday. The company has a market capitalization of $157.78 billion, a P/E ratio of 38.86, a PEG ratio of 2.63 and a beta of 0.51. The company has a debt-to-equity ratio of 9.62, a quick ratio of 0.95 and a current ratio of 1.26. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $346.85. The stock has a 50-day simple moving average of $280.93 and a 200-day simple moving average of $285.41.

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

Insider Buying and Selling at Amgen

In related news, SVP Rachna Khosla sold 1,500 shares of the company’s stock in a transaction that occurred 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 transaction, the senior vice president now owns 8,162 shares of the company’s stock, valued at approximately $2,364,368.16. This represents a 15.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.76% of the stock is owned by corporate insiders.

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.