Bay Rivers Group Decreases Stock Position in Amgen Inc. (NASDAQ:AMGN)

Bay Rivers Group lowered its stake in Amgen Inc. (NASDAQ:AMGN) by 1.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,424 shares of the medical research company’s stock after selling 186 shares during the period. Amgen makes up approximately 1.5% of Bay Rivers Group’s holdings, making the stock its 25th largest holding. Bay Rivers Group’s holdings in Amgen were worth $2,936,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Centricity Wealth Management LLC purchased a new position in shares of Amgen in the fourth quarter worth about $25,000. Pinney & Scofield Inc. purchased a new position in Amgen during the 4th quarter valued at about $26,000. Ritter Daniher Financial Advisory LLC DE increased its holdings in Amgen by 66.2% during the 4th quarter. Ritter Daniher Financial Advisory LLC DE now owns 128 shares of the medical research company’s stock valued at $33,000 after purchasing an additional 51 shares during the period. Synergy Investment Management LLC purchased a new position in Amgen during the 4th quarter valued at about $34,000. Finally, Atala Financial Inc purchased a new position in Amgen during the 4th quarter valued at about $34,000. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Amgen Stock Performance

AMGN stock opened at $287.01 on Thursday. The stock has a market capitalization of $154.33 billion, a PE ratio of 38.01, a price-to-earnings-growth ratio of 2.63 and a beta of 0.51. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $346.85. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 9.62. The stock’s 50 day simple moving average is $282.39 and its 200 day simple moving average is $285.31.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Thursday, May 1st. The medical research company reported $4.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.18 by $0.72. Amgen had a return on equity of 176.32% and a net margin of 12.24%. The firm had revenue of $8.15 billion for the quarter, compared to the consensus estimate of $8.05 billion. During the same period in the prior year, the company posted $3.96 earnings per share. The company’s quarterly revenue was up 9.4% on a year-over-year basis. As a group, research analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

AMGN has been the topic of a number of research analyst reports. Citigroup restated a “neutral” rating on shares of Amgen in a report on Wednesday, February 5th. Wall Street Zen upgraded Amgen from a “buy” rating to a “strong-buy” rating in a report on Sunday, May 18th. Royal Bank of Canada reduced their price target on Amgen from $324.00 to $320.00 and set an “outperform” rating on the stock in a report on Friday, May 2nd. Cantor Fitzgerald initiated coverage on Amgen in a report on Tuesday, April 22nd. They set a “neutral” rating and a $305.00 price target on the stock. Finally, Johnson Rice set a $294.00 price target on Amgen in a report on Wednesday, March 5th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $309.22.

About Amgen

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.