MV Capital Management Inc. Trims Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

MV Capital Management Inc. cut its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 6.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,053 shares of the medical research company’s stock after selling 542 shares during the quarter. MV Capital Management Inc.’s holdings in Amgen were worth $2,509,000 as of its most recent filing with the Securities and Exchange Commission.

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

Insider Buying and Selling

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

Amgen Stock Performance

Shares of NASDAQ AMGN opened at $293.43 on Wednesday. The company has a debt-to-equity ratio of 9.62, a quick ratio of 0.95 and a current ratio of 1.26. The company has a market cap of $157.78 billion, a P/E ratio of 38.86, a P/E/G ratio of 2.63 and a beta of 0.51. The firm’s fifty day moving average is $280.93 and its two-hundred day moving average is $285.41. Amgen Inc. has a 52-week low of $253.30 and a 52-week high of $346.85.

Amgen (NASDAQ:AMGN) last announced its earnings results on Thursday, May 1st. The medical research company reported $4.90 earnings per share (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 business had revenue of $8.15 billion during the quarter, compared to analyst estimates of $8.05 billion. During the same quarter in the previous year, the business earned $3.96 earnings per share. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. As a group, analysts anticipate that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Analysts Set New Price Targets

AMGN has been the topic of several research reports. Guggenheim initiated coverage on Amgen in a research report on Tuesday, May 20th. They issued a “neutral” rating and a $288.00 target price on the stock. Piper Sandler reduced their price objective on Amgen from $329.00 to $328.00 and set an “overweight” rating for the company in a research report on Friday, May 16th. Johnson Rice set a $294.00 target price on Amgen in a research report on Wednesday, March 5th. Mizuho raised their price target on Amgen from $235.00 to $280.00 and gave the company a “neutral” rating in a report on Wednesday, May 7th. Finally, Wall Street Zen raised Amgen from a “buy” rating to a “strong-buy” rating in a report on Sunday, May 18th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average 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.