Bernard Wealth Management Corp. Sells 196 Shares of Amgen Inc. (NASDAQ:AMGN)

Bernard Wealth Management Corp. reduced its position in shares of Amgen Inc. (NASDAQ:AMGN) by 34.1% in the first quarter, according to its most recent filing with the SEC. The fund owned 379 shares of the medical research company’s stock after selling 196 shares during the quarter. Bernard Wealth Management Corp.’s holdings in Amgen were worth $118,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AMGN. Centricity Wealth Management LLC bought a new position in shares of Amgen during the 4th quarter valued at approximately $25,000. Pinney & Scofield Inc. bought a new stake in Amgen in the fourth quarter worth $26,000. Ritter Daniher Financial Advisory LLC DE lifted its position in Amgen by 66.2% in the fourth quarter. Ritter Daniher Financial Advisory LLC DE now owns 128 shares of the medical research company’s stock worth $33,000 after buying an additional 51 shares during the last quarter. Synergy Investment Management LLC bought a new stake in Amgen in the fourth quarter worth $34,000. Finally, Atala Financial Inc bought a new stake in Amgen in the fourth quarter worth $34,000. 76.50% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Amgen

In other Amgen news, SVP Rachna Khosla sold 1,500 shares of Amgen stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $289.68, for a total value of $434,520.00. Following the transaction, the senior vice president now owns 8,162 shares in the company, valued at $2,364,368.16. The trade was a 15.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.76% of the stock is owned by insiders.

Amgen Stock Performance

Shares of Amgen stock opened at $295.22 on Friday. The firm has a market cap of $158.74 billion, a P/E ratio of 39.10, a P/E/G ratio of 2.63 and a beta of 0.51. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 9.62. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $346.85. The stock’s fifty day moving average price is $281.33 and its 200-day moving average price is $285.58.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings results on Thursday, May 1st. The medical research company reported $4.90 EPS for the quarter, beating the consensus estimate 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 analyst estimates of $8.05 billion. During the same quarter last year, the firm posted $3.96 earnings per share. The business’s revenue for the quarter was up 9.4% on a year-over-year basis. On average, equities research analysts expect that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on AMGN. Royal Bank of Canada lowered their price target on Amgen from $324.00 to $320.00 and set an “outperform” rating for the company in a research report on Friday, May 2nd. Guggenheim began coverage on Amgen in a research report on Tuesday, May 20th. They issued a “neutral” rating and a $288.00 price target for the company. UBS Group restated a “neutral” rating and issued a $315.00 price target (down from $319.00) on shares of Amgen in a research report on Friday, May 2nd. Piper Sandler lowered their price target on Amgen from $329.00 to $328.00 and set an “overweight” rating for the company in a research report on Friday, May 16th. Finally, Bank of America lifted their target price on Amgen from $275.00 to $294.00 and gave the stock an “underperform” rating in a research report on Wednesday, March 5th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Amgen currently has a consensus rating of “Hold” and an average target price of $309.22.

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.