Beacon Capital Management LLC Acquires 43 Shares of Amgen Inc. (NASDAQ:AMGN)

Beacon Capital Management LLC lifted its holdings in Amgen Inc. (NASDAQ:AMGN) by 11.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 417 shares of the medical research company’s stock after purchasing an additional 43 shares during the quarter. Beacon Capital Management LLC’s holdings in Amgen were worth $130,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Centricity Wealth Management LLC bought a new stake in shares of Amgen in the fourth quarter worth $25,000. Pinney & Scofield Inc. bought a new stake in shares of Amgen in the fourth quarter worth $26,000. Ritter Daniher Financial Advisory LLC DE lifted its position in shares of 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 purchasing an additional 51 shares in the last quarter. Synergy Investment Management LLC bought a new stake in shares of Amgen in the fourth quarter worth $34,000. Finally, Atala Financial Inc bought a new stake in Amgen during the fourth quarter worth $34,000. Institutional investors own 76.50% of the company’s stock.

Insider Activity at Amgen

In other Amgen news, SVP Rachna Khosla sold 1,500 shares of the stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $289.68, for a total transaction of $434,520.00. Following the sale, the senior vice president now directly owns 8,162 shares in the company, valued at $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. 0.69% of the stock is currently owned by corporate insiders.

Amgen Trading Down 1.9%

AMGN stock opened at $290.05 on Wednesday. The company has a debt-to-equity ratio of 8.70, a quick ratio of 0.88 and a current ratio of 1.17. The company’s 50-day simple moving average is $281.62 and its 200 day simple moving average is $285.78. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $346.85. The company has a market capitalization of $155.96 billion, a PE ratio of 26.46, a price-to-earnings-growth ratio of 2.67 and a beta of 0.51.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Thursday, May 1st. The medical research company reported $4.90 EPS for the quarter, beating the consensus estimate of $4.18 by $0.72. Amgen had a net margin of 17.39% and a return on equity of 176.11%. The business had revenue of $8.15 billion for the quarter, compared to the consensus estimate of $8.05 billion. During the same period in the prior year, the company posted $3.96 earnings per share. Amgen’s revenue was up 9.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on AMGN shares. Royal Bank Of Canada dropped their price target on shares of Amgen from $324.00 to $320.00 and set an “outperform” rating on the stock in a research report on Friday, May 2nd. UBS Group reaffirmed a “neutral” rating and set a $315.00 price target (down from $319.00) on shares of Amgen in a research report on Friday, May 2nd. Mizuho upped their price target on shares of Amgen from $235.00 to $280.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 7th. Erste Group Bank lowered shares of Amgen from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 8th. Finally, Johnson Rice set a $294.00 price target on shares of Amgen in a research report on Wednesday, March 5th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, nine have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus 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.