CANADA LIFE ASSURANCE Co lifted its stake in Amgen Inc. (NASDAQ:AMGN – Free Report) by 2.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 49,931 shares of the medical research company’s stock after acquiring an additional 1,311 shares during the period. CANADA LIFE ASSURANCE Co’s holdings in Amgen were worth $14,241,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in AMGN. Horizon Financial Services LLC purchased a new stake in shares of Amgen during the 1st quarter valued at $28,000. BOK Financial Private Wealth Inc. acquired a new stake in Amgen in the fourth quarter worth about $29,000. United Community Bank acquired a new stake in Amgen in the fourth quarter worth about $29,000. Planned Solutions Inc. purchased a new stake in shares of Amgen during the fourth quarter worth about $30,000. Finally, Delos Wealth Advisors LLC increased its holdings in shares of Amgen by 2,500.0% during the fourth quarter. Delos Wealth Advisors LLC now owns 104 shares of the medical research company’s stock valued at $30,000 after acquiring an additional 100 shares in the last quarter. 76.50% of the stock is owned by institutional investors.
Amgen Price Performance
AMGN traded down $2.37 during trading on Thursday, hitting $333.24. The company’s stock had a trading volume of 1,453,541 shares, compared to its average volume of 2,662,319. The firm has a market capitalization of $178.76 billion, a price-to-earnings ratio of 47.94, a P/E/G ratio of 2.77 and a beta of 0.58. Amgen Inc. has a twelve month low of $228.21 and a twelve month high of $346.85. The business’s fifty day simple moving average is $313.12 and its 200 day simple moving average is $296.93. The company has a current ratio of 1.42, a quick ratio of 0.98 and a debt-to-equity ratio of 11.96.
Wall Street Analysts Forecast Growth
Several analysts have weighed in on the stock. UBS Group boosted their target price on shares of Amgen from $284.00 to $307.00 and gave the stock a “neutral” rating in a research report on Friday, May 3rd. TD Cowen dropped their price objective on shares of Amgen from $370.00 to $360.00 and set a “buy” rating on the stock in a report on Wednesday, April 17th. Morgan Stanley reduced their target price on Amgen from $310.00 to $303.00 and set an “equal weight” rating for the company in a research note on Thursday, July 11th. StockNews.com upgraded Amgen from a “hold” rating to a “buy” rating in a research note on Friday, May 3rd. Finally, Royal Bank of Canada raised their price objective on Amgen from $328.00 to $332.00 and gave the stock an “outperform” rating in a research note on Friday, June 14th. Ten research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $312.63.
Read Our Latest Stock Report on Amgen
Insider Buying and Selling
In other Amgen news, SVP Nancy A. Grygiel sold 2,117 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $313.09, for a total transaction of $662,811.53. Following the completion of the sale, the senior vice president now directly owns 9,883 shares in the company, valued at approximately $3,094,268.47. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.69% of the company’s stock.
Amgen 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.
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