Modera Wealth Management LLC Reduces Position in Amgen Inc. (NASDAQ:AMGN)

Modera Wealth Management LLC lessened its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 2.9% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 108,441 shares of the medical research company’s stock after selling 3,268 shares during the period. Modera Wealth Management LLC’s holdings in Amgen were worth $33,785,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Beck Mack & Oliver LLC raised its stake in shares of Amgen by 0.7% during the fourth quarter. Beck Mack & Oliver LLC now owns 4,623 shares of the medical research company’s stock valued at $1,205,000 after acquiring an additional 34 shares in the last quarter. Continuum Advisory LLC raised its stake in shares of Amgen by 0.7% during the fourth quarter. Continuum Advisory LLC now owns 5,154 shares of the medical research company’s stock valued at $1,343,000 after acquiring an additional 35 shares in the last quarter. Octavia Wealth Advisors LLC raised its stake in shares of Amgen by 1.5% during the first quarter. Octavia Wealth Advisors LLC now owns 2,435 shares of the medical research company’s stock valued at $759,000 after acquiring an additional 35 shares in the last quarter. Affinity Capital Advisors LLC raised its stake in shares of Amgen by 4.5% during the first quarter. Affinity Capital Advisors LLC now owns 861 shares of the medical research company’s stock valued at $246,000 after acquiring an additional 37 shares in the last quarter. Finally, Accredited Investors Inc. raised its stake in shares of Amgen by 1.7% during the first quarter. Accredited Investors Inc. now owns 2,164 shares of the medical research company’s stock valued at $674,000 after acquiring an additional 37 shares in the last quarter. Institutional investors own 76.50% of the company’s stock.

Insider Buying and Selling at Amgen

In other 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 transaction of $434,520.00. Following the sale, the senior vice president directly owned 8,162 shares of the company’s stock, valued at $2,364,368.16. The trade was a 15.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.69% of the stock is owned by company insiders.

Amgen Price Performance

Shares of AMGN opened at $303.56 on Wednesday. The firm has a market capitalization of $163.23 billion, a PE ratio of 27.70, a price-to-earnings-growth ratio of 2.61 and a beta of 0.49. The company has a debt-to-equity ratio of 8.70, a current ratio of 1.17 and a quick ratio of 0.88. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $340.89. The company’s fifty day moving average price is $290.47 and its 200-day moving average price is $291.42.

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

Analyst Ratings Changes

AMGN has been the subject of several research analyst reports. Morgan Stanley reaffirmed an “equal weight” rating on shares of Amgen in a research note on Friday, May 2nd. Guggenheim started coverage on shares of Amgen in a research note on Tuesday, May 20th. They issued a “neutral” rating and a $288.00 price objective for the company. 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 note on Friday, May 2nd. Citigroup boosted their price objective on shares of Amgen from $300.00 to $305.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 22nd. Finally, Erste Group Bank downgraded shares of Amgen from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 8th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Amgen presently has a consensus rating of “Hold” and a consensus target price of $307.27.

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.