Genus Capital Management Inc. has established a new stake in **Amgen Inc.** (NASDAQ: AMGN), acquiring **20,285 shares** valued at approximately **$6,320,000** during the first quarter of 2023, according to **HoldingsChannel.com**. This investment reflects a growing interest among institutional investors in the biotechnology sector, particularly in companies like Amgen, which specializes in medical research and therapeutics.
A series of other significant investments were reported, underscoring the trend. **Brighton Jones LLC** increased its holdings in Amgen by **23.5%** in the fourth quarter, now owning **27,468 shares** worth **$7,159,000** following an acquisition of **5,226 shares**. Similarly, **Proficio Capital Partners LLC** expanded its stake by **35.0%**, bringing its total to **1,806 shares** valued at **$471,000** after purchasing an additional **468 shares** during the same period.
In another notable move, **AlphaQuest LLC** raised its holdings by **3.9%**, now owning **1,993 shares** valued at **$519,000** after acquiring **74 shares**. Meanwhile, **Truvestments Capital LLC** increased its position in Amgen by **9.6%**, leading to **791 shares** worth **$206,000**. Additionally, **Connor Clark & Lunn Investment Management Ltd.** dramatically boosted its holdings by **89.2%**, now owning **54,176 shares** valued at **$14,120,000** after acquiring **25,541 shares**.
Overall, institutional investors now control **76.50%** of Amgen’s stock, indicating robust institutional confidence in the company’s future.
In related news, **Rachna Khosla**, Senior Vice President at Amgen, sold **1,500 shares** on June 5, 2023, at an average price of **$289.68**, totaling **$434,520**. This sale reduced Khosla’s ownership to **8,162 shares**, valued at approximately **$2,364,368.16**, reflecting a **15.52%** decrease in her position. This transaction was disclosed in a filing with the **U.S. Securities and Exchange Commission**.
Amgen’s Stock Performance and Financial Outlook
Amgen’s stock opened at **$300.37** on a recent Friday. The company maintains a **market capitalization** of **$161.51 billion**, with a **P/E ratio** of **27.41** and a **P/E/G ratio** of **2.68**. The stock exhibits a **beta of 0.49**, indicating lower volatility compared to the broader market. Amgen’s financial health is reflected in its **quick ratio** of **0.88** and a **current ratio** of **1.17**, while its **debt-to-equity ratio** stands at **8.70**.
The company recently reported its quarterly earnings on **May 1, 2023**, showcasing a strong performance with an earnings per share (EPS) of **$4.90**, surpassing analysts’ expectations of **$4.18** by **$0.72**. Amgen generated revenues of **$8.15 billion** for the quarter, also exceeding forecasts of **$8.05 billion**. The company’s year-over-year revenue growth stood at **9.4%**, with a net margin of **17.39%** and a remarkable **return on equity** of **176.11%**.
About Amgen Inc.
**Amgen Inc.** is a leading biotechnology company engaged in the discovery, development, manufacturing, and delivery of human therapeutics globally. Its product range includes treatments for serious illnesses such as **rheumatoid arthritis**, **osteoporosis**, and **cancer**. Notable products include **Enbrel**, **Otezla**, **Prolia**, and **Repatha**. The company continues to innovate and expand its offerings to meet patient needs worldwide.
As institutional interest in Amgen grows, the company’s strategic direction and financial performance will be closely monitored by investors and analysts alike. For those looking for insights into Amgen and its market activity, resources like **HoldingsChannel.com** provide ongoing updates and analysis.
