Amgen Inc. (NASDAQ:AMGN) Shares Bought by Royal Fund Management LLC (2024)

Royal Fund Management LLC raised its position in Amgen Inc. (NASDAQ:AMGN - Free Report) by 20.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,378 shares of the medical research company's stock after acquiring an additional 2,914 shares during the quarter. Royal Fund Management LLC's holdings in Amgen were worth $4,960,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. BOK Financial Private Wealth Inc. purchased a new position in shares of Amgen in the fourth quarter valued at about $29,000. United Community Bank purchased a new position in shares of Amgen during the fourth quarter valued at about $29,000. Planned Solutions Inc. purchased a new position in shares of Amgen during the fourth quarter valued at about $30,000. Delos Wealth Advisors LLC increased its position 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 buying an additional 100 shares during the period. Finally, Providence Capital Advisors LLC purchased a new position in shares of Amgen during the third quarter valued at about $30,000. Hedge funds and other institutional investors own 76.50% of the company's stock.

Insider Activity at Amgen

In related news, SVP Nancy A. Grygiel sold 2,117 shares of the stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $313.09, for a total transaction of $662,811.53. Following the transaction, the senior vice president now owns 9,883 shares in the company, valued at $3,094,268.47. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.69% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts recently issued reports on AMGN shares. Royal Bank of Canada boosted their price target on shares of Amgen from $328.00 to $332.00 and gave the company an "outperform" rating in a research report on Friday, June 14th. StockNews.com upgraded shares of Amgen from a "hold" rating to a "buy" rating in a research report on Friday, May 3rd. BMO Capital Markets boosted their price objective on shares of Amgen from $336.00 to $355.00 and gave the stock an "outperform" rating in a research note on Friday, May 3rd. Barclays raised shares of Amgen from an "underweight" rating to an "equal weight" rating and boosted their price objective for the stock from $230.00 to $300.00 in a research note on Friday, May 3rd. Finally, UBS Group boosted their price objective on shares of Amgen from $284.00 to $307.00 and gave the stock a "neutral" rating in a research note on Friday, May 3rd. Ten investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $305.85.

Get Our Latest Research Report on Amgen

Amgen Stock Performance

Amgen stock traded down $1.73 during midday trading on Friday, reaching $308.16. 6,933,277 shares of the company traded hands, compared to its average volume of 2,019,282. The firm has a market capitalization of $165.31 billion, a price-to-earnings ratio of 44.02, a price-to-earnings-growth ratio of 2.80 and a beta of 0.60. The business has a 50 day moving average of $296.57 and a two-hundred day moving average of $290.84. Amgen Inc. has a 12 month low of $218.44 and a 12 month high of $329.72. The company has a debt-to-equity ratio of 11.96, a current ratio of 1.42 and a quick ratio of 0.98.

Amgen (NASDAQ:AMGN - Get Free Report) last issued its quarterly earnings data on Thursday, May 2nd. The medical research company reported $3.96 earnings per share for the quarter, beating analysts' consensus estimates of $3.76 by $0.20. The company had revenue of $7.45 billion for the quarter, compared to the consensus estimate of $7.45 billion. Amgen had a net margin of 12.74% and a return on equity of 156.21%. The firm's revenue for the quarter was up 22.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.98 earnings per share. As a group, research analysts predict that Amgen Inc. will post 19.47 earnings per share for the current year.

Amgen Company Profile

(Free Report)

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.

Recommended Stories

• Five stocks we like better than Amgen
• What Is WallStreetBets and What Stocks Are They Targeting?
• Micron Technology Stock Volatile Despite Analyst Upgrades
• Stock Average Calculator
• McDonald's Stock: Balancing Value and Innovation
• Russell 2000 Index, How Investors Use it For Profitable Trading
• MarketBeat Week in Review – 6/17 - 6/21

Should you invest $1,000 in Amgen right now?

Before you consider Amgen, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Amgen wasn't on the list.

While Amgen currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here