Range Financial Group LLC Has $2.32 Million Stock Position in Amgen Inc. (NASDAQ:AMGN)

Range Financial Group LLC lifted its position in shares of Amgen Inc. (NASDAQ:AMGN) by 3.9% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,164 shares of the medical research company’s stock after buying an additional 307 shares during the quarter. Amgen comprises 1.2% of Range Financial Group LLC’s holdings, making the stock its 14th biggest position. Range Financial Group LLC’s holdings in Amgen were worth $2,321,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of AMGN. Traynor Capital Management Inc. raised its stake in Amgen by 7.2% during the first quarter. Traynor Capital Management Inc. now owns 20,299 shares of the medical research company’s stock worth $5,771,000 after acquiring an additional 1,358 shares in the last quarter. Peak Financial Advisors LLC acquired a new position in shares of Amgen in the first quarter valued at approximately $2,827,000. AdvisorNet Financial Inc increased its stake in shares of Amgen by 5.7% in the first quarter. AdvisorNet Financial Inc now owns 2,206 shares of the medical research company’s stock valued at $627,000 after buying an additional 119 shares during the period. CHICAGO TRUST Co NA increased its stake in shares of Amgen by 6.4% in the first quarter. CHICAGO TRUST Co NA now owns 8,487 shares of the medical research company’s stock valued at $2,413,000 after buying an additional 513 shares during the period. Finally, Northwest Investment Counselors LLC increased its stake in shares of Amgen by 7.5% in the first quarter. Northwest Investment Counselors LLC now owns 3,603 shares of the medical research company’s stock valued at $1,024,000 after buying an additional 250 shares during the period. Institutional investors and hedge funds own 76.50% of the company’s stock.

Amgen Price Performance

Shares of AMGN traded up $9.99 during trading hours on Monday, reaching $318.15. 3,092,675 shares of the company’s stock traded hands, compared to its average volume of 2,783,310. The stock has a market cap of $170.67 billion, a PE ratio of 44.02, a price-to-earnings-growth ratio of 2.80 and a beta of 0.60. The company has a current ratio of 1.42, a quick ratio of 0.98 and a debt-to-equity ratio of 11.96. Amgen Inc. has a 12 month low of $218.44 and a 12 month high of $329.72. The firm’s 50 day simple moving average is $296.57 and its 200-day simple moving average is $290.84.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Thursday, May 2nd. The medical research company reported $3.96 EPS for the quarter, topping analysts’ consensus estimates of $3.76 by $0.20. The business had revenue of $7.45 billion for the quarter, compared to analysts’ expectations of $7.45 billion. Amgen had a return on equity of 156.21% and a net margin of 12.74%. The business’s quarterly revenue was up 22.0% on a year-over-year basis. During the same period in the previous year, the firm earned $3.98 EPS. Equities analysts expect that Amgen Inc. will post 19.47 EPS for the current year.

Insiders Place Their Bets

In other 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 transaction, the senior vice president now directly owns 9,883 shares of the company’s stock, valued at $3,094,268.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.69% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on AMGN shares. William Blair raised Amgen from a “market perform” rating to an “outperform” rating in a research note on Friday, May 3rd. Raymond James began coverage on Amgen in a research note on Thursday, March 28th. They issued a “market perform” rating for the company. Royal Bank of Canada upped their target price on Amgen from $328.00 to $332.00 and gave the company an “outperform” rating in a report on Friday, June 14th. Morgan Stanley upped their target price on Amgen from $271.00 to $310.00 and gave the company an “equal weight” rating in a report on Friday, May 3rd. Finally, BMO Capital Markets upped their target price on Amgen from $336.00 to $355.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. Ten analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $305.85.

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.