Firethorn Wealth Partners LLC Buys Shares of 666 Amgen Inc. (NASDAQ:AMGN)

Firethorn Wealth Partners LLC acquired a new stake in shares of Amgen Inc. (NASDAQ:AMGN) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 666 shares of the medical research company’s stock, valued at approximately $208,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Centricity Wealth Management LLC purchased a new position in shares of Amgen during the 4th quarter valued at $25,000. Pinney & Scofield Inc. purchased a new position in Amgen in the fourth quarter valued at about $26,000. Ritter Daniher Financial Advisory LLC DE grew 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 valued at $33,000 after purchasing an additional 51 shares in the last quarter. Synergy Investment Management LLC purchased a new position in Amgen in the fourth quarter valued at about $34,000. Finally, Atala Financial Inc purchased a new position in Amgen in the fourth quarter valued at about $34,000. 76.50% of the stock is owned by hedge funds and other institutional investors.

Amgen Stock Down 0.9%

Shares of AMGN opened at $287.01 on Thursday. The company has a 50-day simple moving average of $282.39 and a 200-day simple moving average of $285.31. The firm has a market capitalization of $154.33 billion, a P/E ratio of 38.01, a P/E/G 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 52 week low of $253.30 and a 52 week high of $346.85.

Amgen (NASDAQ:AMGN) last posted 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. The firm had revenue of $8.15 billion during the quarter, compared to analysts’ expectations of $8.05 billion. Amgen had a return on equity of 176.32% and a net margin of 12.24%. The company’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.96 EPS. On average, equities research analysts expect that Amgen Inc. will post 20.62 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages recently commented on AMGN. Cantor Fitzgerald began coverage on Amgen in a research note on Tuesday, April 22nd. They issued a “neutral” rating and a $305.00 price target for the company. Citigroup reissued a “neutral” rating on shares of Amgen in a research note on Wednesday, February 5th. Johnson Rice set a $294.00 target price on shares of Amgen in a research report on Wednesday, March 5th. Erste Group Bank downgraded shares of Amgen from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 8th. Finally, Morgan Stanley reissued an “equal weight” rating on shares of Amgen in a research report on Friday, May 2nd. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, nine have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Amgen presently has an average rating of “Hold” and an average price target of $309.22.

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.