KRS Capital Management LLC Has $1.16 Million Holdings in Amgen Inc. (NASDAQ:AMGN)

KRS Capital Management LLC raised its holdings in Amgen Inc. (NASDAQ:AMGN) by 24.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,072 shares of the medical research company’s stock after buying an additional 802 shares during the quarter. Amgen accounts for 0.9% of KRS Capital Management LLC’s investment portfolio, making the stock its 25th largest holding. KRS Capital Management LLC’s holdings in Amgen were worth $1,158,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Amgen during the fourth quarter worth approximately $1,556,912,000. International Assets Investment Management LLC purchased a new stake in Amgen in the 4th quarter valued at $4,589,900,000. Royal Bank of Canada raised its position in Amgen by 14.8% in the 4th quarter. Royal Bank of Canada now owns 5,831,624 shares of the medical research company’s stock valued at $1,679,625,000 after buying an additional 751,947 shares during the last quarter. Assenagon Asset Management S.A. raised its position in Amgen by 486.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 899,232 shares of the medical research company’s stock valued at $258,997,000 after buying an additional 745,929 shares during the last quarter. Finally, abrdn plc raised its position in Amgen by 150.4% in the 4th quarter. abrdn plc now owns 1,043,609 shares of the medical research company’s stock valued at $300,580,000 after buying an additional 626,810 shares during the last quarter. 76.50% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Amgen

In other Amgen news, SVP Nancy A. Grygiel sold 2,117 shares of the firm’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $313.09, for a total value of $662,811.53. Following the sale, the senior vice president now owns 9,883 shares of the company’s stock, valued at approximately $3,094,268.47. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.69% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on AMGN shares. StockNews.com raised Amgen from a “hold” rating to a “buy” rating in a research report on Friday, May 3rd. Argus upped their price objective on Amgen from $300.00 to $340.00 and gave the company a “buy” rating in a research note on Thursday. Barclays upgraded Amgen from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $230.00 to $300.00 in a research note on Friday, May 3rd. UBS Group upped their price objective on Amgen from $284.00 to $307.00 and gave the company a “neutral” rating in a research note on Friday, May 3rd. Finally, Morgan Stanley upped their price objective on Amgen from $271.00 to $310.00 and gave the company an “equal weight” 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’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $307.35.

Amgen Stock Performance

Shares of AMGN opened at $312.45 on Friday. The stock’s 50-day simple moving average is $301.56 and its 200 day simple moving average is $292.10. The stock has a market capitalization of $167.61 billion, a price-to-earnings ratio of 44.64, a price-to-earnings-growth ratio of 2.83 and a beta of 0.60. The company has a debt-to-equity ratio of 11.96, a quick ratio of 0.98 and a current ratio of 1.42. Amgen Inc. has a 52-week low of $218.44 and a 52-week high of $329.72.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings data on Thursday, May 2nd. The medical research company reported $3.96 earnings per share (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 firm’s quarterly revenue was up 22.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.98 EPS. Research analysts forecast that Amgen Inc. will post 19.47 EPS for the current fiscal year.

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.