Amgen Inc. (NASDAQ:AMGN) Shares Sold by New England Research & Management Inc.

New England Research & Management Inc. lessened its stake in Amgen Inc. (NASDAQ:AMGN) by 53.5% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 2,543 shares of the medical research company’s stock after selling 2,926 shares during the quarter. New England Research & Management Inc.’s holdings in Amgen were worth $792,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AMGN. Centricity Wealth Management LLC bought a new position in Amgen in the 4th quarter valued at about $25,000. Pinney & Scofield Inc. bought a new position in Amgen in the 4th quarter valued at about $26,000. Ritter Daniher Financial Advisory LLC DE grew its position in Amgen by 66.2% in 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 buying an additional 51 shares in the last quarter. Synergy Investment Management LLC bought a new position in Amgen in the 4th quarter valued at about $34,000. Finally, Atala Financial Inc bought a new position in Amgen in the 4th quarter valued at about $34,000. Institutional investors own 76.50% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on AMGN. Johnson Rice set a $294.00 target price on shares of Amgen in a research report on Wednesday, March 5th. Royal Bank of Canada reduced their price objective on shares of Amgen from $324.00 to $320.00 and set an “outperform” rating for the company in a research report on Friday, May 2nd. Piper Sandler reduced their price objective on shares of Amgen from $329.00 to $328.00 and set an “overweight” rating for the company in a research report on Friday, May 16th. UBS Group restated a “neutral” rating and set a $315.00 price objective (down previously from $319.00) on shares of Amgen in a research report on Friday, May 2nd. Finally, Bank of America raised their price objective on shares of Amgen from $275.00 to $294.00 and gave the company an “underperform” rating in a research report on Wednesday, March 5th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, nine have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $309.22.

Amgen Price Performance

NASDAQ AMGN opened at $295.22 on Friday. The company has a 50 day simple moving average of $281.33 and a 200-day simple moving average of $285.58. The company has a debt-to-equity ratio of 9.62, a current ratio of 1.26 and a quick ratio of 0.95. The firm has a market capitalization of $158.74 billion, a price-to-earnings ratio of 39.10, a price-to-earnings-growth ratio of 2.63 and a beta of 0.51. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $346.85.

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

Insider Transactions at Amgen

In related news, SVP Rachna Khosla sold 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $289.68, for a total transaction of $434,520.00. Following the transaction, the senior vice president now owns 8,162 shares of the company’s stock, valued at approximately $2,364,368.16. This trade represents a 15.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.76% of the stock is owned by insiders.

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.