Perennial Advisors LLC Acquires 530 Shares of Amgen Inc. (NASDAQ:AMGN)

Perennial Advisors LLC grew its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 2.8% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,671 shares of the medical research company’s stock after purchasing an additional 530 shares during the quarter. Perennial Advisors LLC’s holdings in Amgen were worth $6,128,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Centricity Wealth Management LLC bought a new stake in Amgen during the fourth quarter valued at approximately $25,000. Pinney & Scofield Inc. bought a new stake in Amgen during the fourth quarter valued at approximately $26,000. Ritter Daniher Financial Advisory LLC DE lifted its position in Amgen by 66.2% during the fourth quarter. Ritter Daniher Financial Advisory LLC DE now owns 128 shares of the medical research company’s stock valued at $33,000 after purchasing an additional 51 shares during the last quarter. Synergy Investment Management LLC bought a new stake in Amgen during the fourth quarter valued at approximately $34,000. Finally, Atala Financial Inc bought a new stake in Amgen during the fourth quarter valued at approximately $34,000. Institutional investors own 76.50% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Piper Sandler dropped their target price on shares of Amgen from $329.00 to $328.00 and set an “overweight” rating for the company in a research report on Friday, May 16th. Erste Group Bank downgraded shares of Amgen from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 8th. Royal Bank of Canada decreased their price target on shares of Amgen from $324.00 to $320.00 and set an “outperform” rating on the stock in a research note on Friday, May 2nd. Cantor Fitzgerald began coverage on shares of Amgen in a research note on Tuesday, April 22nd. They set a “neutral” rating and a $305.00 price target on the stock. Finally, Mizuho lifted their price target on shares of Amgen from $235.00 to $280.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 7th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, nine have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Amgen presently has an average rating of “Hold” and an average price target of $309.22.

Insider Buying and Selling

In related news, SVP Rachna Khosla sold 1,500 shares of the company’s stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $289.68, for a total value of $434,520.00. Following the transaction, the senior vice president now owns 8,162 shares in the company, valued at $2,364,368.16. The trade was a 15.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.76% of the stock is currently owned by company insiders.

Amgen Stock Up 1.1%

Shares of Amgen stock opened at $290.33 on Friday. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $346.85. The company has a market cap of $156.11 billion, a P/E ratio of 38.45, a PEG ratio of 2.63 and a beta of 0.51. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 9.62. The company’s fifty day simple moving average is $281.57 and its two-hundred day simple moving average is $285.42.

Amgen (NASDAQ:AMGN) last announced its earnings results 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. Amgen had a net margin of 12.24% and a return on equity of 176.32%. The firm had revenue of $8.15 billion for the quarter, compared to analysts’ expectations of $8.05 billion. During the same quarter in the previous year, the business posted $3.96 EPS. The company’s quarterly revenue was up 9.4% on a year-over-year basis. Research analysts anticipate that Amgen Inc. will post 20.62 EPS for the current year.

About Amgen

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.