Foster Group Inc. Invests $246,000 in Amgen Inc. (NASDAQ:AMGN)

Foster Group Inc. bought a new position in shares of Amgen Inc. (NASDAQ:AMGN) in the first quarter, HoldingsChannel.com reports. The institutional investor bought 789 shares of the medical research company’s stock, valued at approximately $246,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AMGN. Tallon Kerry Patrick acquired a new position in shares of Amgen in the 4th quarter worth approximately $270,000. Brighton Jones LLC boosted its stake in Amgen by 23.5% in the fourth quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company’s stock valued at $7,159,000 after acquiring an additional 5,226 shares during the period. Onyx Bridge Wealth Group LLC boosted its position in Amgen by 4.2% during the 4th quarter. Onyx Bridge Wealth Group LLC now owns 1,422 shares of the medical research company’s stock valued at $371,000 after purchasing an additional 57 shares during the period. Silver Oak Securities Incorporated boosted its position in Amgen by 18.8% during the 4th quarter. Silver Oak Securities Incorporated now owns 1,691 shares of the medical research company’s stock valued at $439,000 after purchasing an additional 268 shares during the period. Finally, Telos Capital Management Inc. boosted its position in shares of Amgen by 3.2% during the fourth quarter. Telos Capital Management Inc. now owns 25,997 shares of the medical research company’s stock worth $6,776,000 after buying an additional 797 shares during the period. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Trading Up 1.1%

AMGN stock opened at $290.33 on Friday. The business’s 50 day moving average is $281.57 and its 200-day moving average is $285.44. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 9.62. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $346.85. The firm has a market cap of $156.11 billion, a P/E ratio of 38.45, a P/E/G ratio of 2.63 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, topping analysts’ consensus estimates of $4.18 by $0.72. Amgen had a return on equity of 176.32% and a net margin of 12.24%. The business had revenue of $8.15 billion for the quarter, compared to analyst estimates of $8.05 billion. During the same period in the prior year, the company earned $3.96 EPS. Amgen’s revenue for the quarter was up 9.4% on a year-over-year basis. Equities analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Insider Activity at Amgen

In other news, SVP Rachna Khosla sold 1,500 shares of Amgen stock in a transaction 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 directly owns 8,162 shares of the company’s stock, valued at $2,364,368.16. This trade represents a 15.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.76% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on AMGN. Bank of America upped their price objective on Amgen from $275.00 to $294.00 and gave the company an “underperform” rating in a report on Wednesday, March 5th. Mizuho increased their price objective on Amgen from $235.00 to $280.00 and gave the stock a “neutral” rating in a report on Wednesday, May 7th. UBS Group reiterated a “neutral” rating and set a $315.00 price objective (down from $319.00) on shares of Amgen in a report on Friday, May 2nd. Piper Sandler cut their price target on Amgen from $329.00 to $328.00 and set an “overweight” rating for the company in a research note on Friday, May 16th. Finally, Erste Group Bank downgraded Amgen from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 8th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Amgen 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.