Conning Inc. Lowers Stock Position in Amgen Inc. (NASDAQ:AMGN)

Conning Inc. trimmed its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 16.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,111 shares of the medical research company’s stock after selling 828 shares during the quarter. Conning Inc.’s holdings in Amgen were worth $1,281,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Aurora Private Wealth Inc. purchased a new position in shares of Amgen in the 1st quarter valued at $4,483,000. Checchi Capital Advisers LLC lifted its stake in shares of Amgen by 3.5% during the 1st quarter. Checchi Capital Advisers LLC now owns 6,934 shares of the medical research company’s stock worth $2,160,000 after purchasing an additional 233 shares during the last quarter. Castle Wealth Management LLC boosted its position in Amgen by 4.0% during the first quarter. Castle Wealth Management LLC now owns 3,828 shares of the medical research company’s stock valued at $1,193,000 after purchasing an additional 147 shares in the last quarter. D.A. Davidson & CO. grew its stake in Amgen by 3.6% in the first quarter. D.A. Davidson & CO. now owns 232,425 shares of the medical research company’s stock valued at $72,412,000 after purchasing an additional 8,184 shares during the last quarter. Finally, Rosenberg Matthew Hamilton raised its holdings in Amgen by 21.2% in the first quarter. Rosenberg Matthew Hamilton now owns 989 shares of the medical research company’s stock worth $308,000 after purchasing an additional 173 shares in the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AMGN has been the subject of several analyst reports. Guggenheim began coverage on shares of Amgen in a research report on Tuesday, May 20th. They set a “neutral” rating and a $288.00 price target for the company. Wall Street Zen upgraded Amgen from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 18th. William Blair restated an “outperform” rating on shares of Amgen in a report on Tuesday, June 24th. UBS Group reaffirmed a “neutral” rating and issued a $315.00 price objective (down from $319.00) on shares of Amgen in a research report on Friday, May 2nd. Finally, Mizuho boosted their target price on shares of Amgen from $235.00 to $280.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 7th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $307.82.

Amgen Price Performance

Shares of AMGN opened at $298.25 on Friday. The business’s 50-day moving average is $282.12 and its two-hundred day moving average is $286.57. The company has a market capitalization of $160.37 billion, a P/E ratio of 27.21, a P/E/G ratio of 2.68 and a beta of 0.49. Amgen Inc. has a fifty-two week low of $253.30 and a fifty-two week high of $346.85. The company has a debt-to-equity ratio of 8.70, a quick ratio of 0.88 and a current ratio of 1.17.

Amgen (NASDAQ:AMGN) last posted its earnings results on Thursday, May 1st. The medical research company reported $4.90 EPS for the quarter, topping the consensus estimate of $4.18 by $0.72. Amgen had a return on equity of 176.11% and a net margin of 17.39%. The firm had revenue of $8.15 billion for the quarter, compared to analyst estimates of $8.05 billion. During the same period last year, the company earned $3.96 earnings per share. Amgen’s revenue for the quarter was up 9.4% compared to the same quarter last year. Research analysts predict that Amgen Inc. will post 20.62 earnings per share for the current year.

Insider Activity at Amgen

In related news, SVP Rachna Khosla sold 1,500 shares of the business’s stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $289.68, for a total value of $434,520.00. Following the completion of the transaction, the senior vice president directly owned 8,162 shares in the company, valued at $2,364,368.16. The trade was a 15.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at 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.