BKM Wealth Management LLC Purchases 855 Shares of Amgen Inc. (NASDAQ:AMGN)

BKM Wealth Management LLC lifted its position in Amgen Inc. (NASDAQ:AMGN) by 16.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,928 shares of the medical research company’s stock after acquiring an additional 855 shares during the period. BKM Wealth Management LLC’s holdings in Amgen were worth $1,685,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bank of Nova Scotia boosted its stake in Amgen by 11.4% during the 3rd quarter. Bank of Nova Scotia now owns 54,628 shares of the medical research company’s stock valued at $14,682,000 after purchasing an additional 5,609 shares during the last quarter. Teza Capital Management LLC grew its holdings in Amgen by 448.3% during the third quarter. Teza Capital Management LLC now owns 5,340 shares of the medical research company’s stock valued at $1,435,000 after purchasing an additional 4,366 shares during the period. Sherbrooke Park Advisers LLC bought a new stake in Amgen during the third quarter valued at about $411,000. Schonfeld Strategic Advisors LLC bought a new stake in Amgen during the third quarter valued at about $17,072,000. Finally, Waverly Advisors LLC lifted its position in shares of Amgen by 15.8% in the third quarter. Waverly Advisors LLC now owns 6,532 shares of the medical research company’s stock valued at $1,755,000 after acquiring an additional 892 shares in the last quarter. Institutional investors own 76.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. TD Cowen lowered their price objective on Amgen from $370.00 to $360.00 and set a “buy” rating on the stock in a research report on Wednesday, April 17th. UBS Group boosted their target price on Amgen from $284.00 to $307.00 and gave the stock a “neutral” rating in a research report on Friday, May 3rd. StockNews.com upgraded Amgen from a “hold” rating to a “buy” rating in a research report on Friday, May 3rd. Truist Financial restated a “buy” rating and set a $320.00 price objective on shares of Amgen in a research report on Friday, April 12th. Finally, Mizuho upped their target price on Amgen from $223.00 to $235.00 and gave the company a “neutral” rating in a research note on Thursday, May 9th. Ten equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $307.35.

Amgen Price Performance

Shares of NASDAQ:AMGN traded down $0.69 during trading on Monday, reaching $311.76. 597,801 shares of the company’s stock traded hands, compared to its average volume of 2,773,756. Amgen Inc. has a fifty-two week low of $218.44 and a fifty-two week high of $329.72. The company has a quick ratio of 0.98, a current ratio of 1.42 and a debt-to-equity ratio of 11.96. The firm has a market cap of $167.24 billion, a PE ratio of 44.64, a P/E/G ratio of 2.82 and a beta of 0.58. The company has a 50-day simple moving average of $301.56 and a 200-day simple moving average of $292.30.

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

Insider Activity

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

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.