Kerusso Capital Management LLC Purchases New Shares in Amgen Inc. (NASDAQ:AMGN)

Kerusso Capital Management LLC acquired a new position in shares of Amgen Inc. (NASDAQ:AMGN) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 9,994 shares of the medical research company’s stock, valued at approximately $3,123,000. Amgen accounts for about 2.3% of Kerusso Capital Management LLC’s holdings, making the stock its 13th biggest holding.

A number of other hedge funds have also bought and sold shares of the company. United Community Bank bought a new stake in shares of Amgen during the 4th quarter worth approximately $29,000. Horizon Financial Services LLC bought a new stake in shares of Amgen during the first quarter worth $28,000. nVerses Capital LLC purchased a new stake in shares of Amgen during the second quarter valued at $31,000. Bbjs Financial Advisors LLC bought a new position in shares of Amgen in the second quarter worth about $33,000. Finally, Western Pacific Wealth Management LP purchased a new position in Amgen in the 4th quarter worth about $37,000. Institutional investors own 76.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on AMGN shares. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $305.00 price objective (down from $310.00) on shares of Amgen in a research report on Wednesday, August 7th. Bank of America increased their price objective on Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Morgan Stanley decreased their target price on Amgen from $310.00 to $303.00 and set an “equal weight” rating for the company in a research report on Thursday, July 11th. TD Cowen increased their price target on Amgen from $360.00 to $381.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Finally, Royal Bank of Canada lifted their price objective on Amgen from $332.00 to $362.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Eleven investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Amgen presently has an average rating of “Moderate Buy” and an average target price of $327.28.

Amgen Price Performance

NASDAQ AMGN opened at $320.56 on Friday. The firm’s fifty day simple moving average is $326.26 and its two-hundred day simple moving average is $302.25. The firm has a market capitalization of $171.96 billion, a P/E ratio of 45.79, a P/E/G ratio of 2.96 and a beta of 0.61. The company has a current ratio of 1.26, a quick ratio of 0.89 and a debt-to-equity ratio of 9.64. Amgen Inc. has a 12-month low of $249.70 and a 12-month high of $346.85.

Amgen (NASDAQ:AMGN) last announced its earnings results on Tuesday, August 6th. The medical research company reported $4.97 earnings per share for the quarter, missing the consensus estimate of $5.01 by ($0.04). Amgen had a return on equity of 161.72% and a net margin of 10.12%. The business had revenue of $8.39 billion for the quarter, compared to analysts’ expectations of $8.35 billion. During the same quarter last year, the firm earned $5.00 earnings per share. The firm’s quarterly revenue was up 20.1% compared to the same quarter last year. Analysts forecast that Amgen Inc. will post 19.49 EPS for the current fiscal year.

Amgen Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 6th. Investors of record on Friday, August 16th were given a $2.25 dividend. This represents a $9.00 annualized dividend and a dividend yield of 2.81%. The ex-dividend date was Friday, August 16th. Amgen’s payout ratio is currently 128.57%.

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.