Paragon Capital Management Ltd acquired a new stake in shares of Amgen Inc. (NASDAQ:AMGN) during the first quarter, Holdings Channel reports. The fund acquired 4,239 shares of the medical research company’s stock, valued at approximately $695,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Thomas J. Herzfeld Advisors Inc. bought a new position in Amgen during the fourth quarter valued at $102,000. Focused Wealth Management Inc boosted its position in Amgen by 248.0% in the fourth quarter. Focused Wealth Management Inc now owns 870 shares of the medical research company’s stock valued at $127,000 after buying an additional 620 shares during the last quarter. Northwest Quadrant Wealth Management LLC acquired a new stake in shares of Amgen during the fourth quarter worth approximately $157,000. Cable Hill Partners LLC boosted its stake in shares of Amgen by 2.7% in the first quarter. Cable Hill Partners LLC now owns 982 shares of the medical research company’s stock worth $161,000 after buying an additional 26 shares in the last quarter. Finally, Cribstone Capital Management LLC boosted its stake in shares of Amgen by 2.3% in the first quarter. Cribstone Capital Management LLC now owns 1,113 shares of the medical research company’s stock worth $182,000 after buying an additional 25 shares in the last quarter. 78.86% of the stock is owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

Amgen Inc. (NASDAQ:AMGN) opened at 162.42 on Friday. Amgen Inc. has a 12 month low of $133.64 and a 12 month high of $184.21. The company has a market cap of $119.44 billion, a price-to-earnings ratio of 15.43 and a beta of 1.37. The company’s 50 day moving average is $160.16 and its 200-day moving average is $160.84.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Wednesday, April 26th. The medical research company reported $3.15 EPS for the quarter, topping the consensus estimate of $3.00 by $0.15. The company had revenue of $5.46 billion during the quarter, compared to analyst estimates of $5.60 billion. Amgen had a net margin of 34.42% and a return on equity of 29.37%. The firm’s revenue was down 1.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.90 EPS. On average, analysts expect that Amgen Inc. will post $12.43 earnings per share for the current fiscal year.

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A number of brokerages have commented on AMGN. Oppenheimer Holdings, Inc. set a $189.00 target price on shares of Amgen and gave the company a “buy” rating in a report on Tuesday, June 13th. Morgan Stanley upped their target price on shares of Amgen from $183.00 to $184.00 and gave the company an “overweight” rating in a report on Tuesday, June 13th. Sanford C. Bernstein set a $164.00 target price on shares of Amgen and gave the company a “hold” rating in a report on Thursday, June 8th. ValuEngine cut shares of Amgen from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Finally, Credit Suisse Group set a $177.00 target price on shares of Amgen and gave the company a “hold” rating in a report on Monday, May 22nd. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the stock. Amgen presently has an average rating of “Buy” and a consensus price target of $185.49.

In other news, SVP Cynthia M. Patton sold 2,922 shares of the company’s stock in a transaction on Wednesday, May 24th. The shares were sold at an average price of $154.40, for a total transaction of $451,156.80. Following the completion of the sale, the senior vice president now owns 24,214 shares of the company’s stock, valued at $3,738,641.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.20% of the stock is currently owned by insiders.

About Amgen

Amgen Inc is a biotechnology company. The Company discovers, develops, manufactures and delivers various human therapeutics. It operates in human therapeutics segment. Its marketed products portfolio includes Neulasta (pegfilgrastim); erythropoiesis-stimulating agents (ESAs), such as Aranesp (darbepoetin alfa) and EPOGEN (epoetin alfa); Sensipar/Mimpara (cinacalcet); XGEVA (denosumab); Prolia (denosumab); NEUPOGEN (filgrastim), and other marketed products, such as KYPROLIS (carfilzomib), Vectibix (panitumumab), Nplate (romiplostim), Repatha (evolocumab), BLINCYTO (blinatumomab), IMLYGIC (talimogene laherparepvec) and Corlanor (ivabradine).

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