Geneos Wealth Management Inc. Reduces Stock Position in Amgen Inc. (NASDAQ:AMGN)

Geneos Wealth Management Inc. trimmed its position in shares of Amgen Inc. (NASDAQ:AMGN) by 11.7% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 1,755 shares of the medical research company’s stock after selling 233 shares during the quarter. Geneos Wealth Management Inc.’s holdings in Amgen were worth $499,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of AMGN. Team Hewins LLC increased its position in shares of Amgen by 1.0% during the 1st quarter. Team Hewins LLC now owns 3,894 shares of the medical research company’s stock valued at $1,107,000 after purchasing an additional 40 shares during the last quarter. Affinity Investment Advisors LLC grew its position in Amgen by 56.7% during the first quarter. Affinity Investment Advisors LLC now owns 5,923 shares of the medical research company’s stock valued at $1,684,000 after buying an additional 2,142 shares during the period. Richardson Financial Services Inc. increased its holdings in Amgen by 32.3% during the first quarter. Richardson Financial Services Inc. now owns 1,968 shares of the medical research company’s stock valued at $560,000 after buying an additional 480 shares during the last quarter. Catalina Capital Group LLC raised its position in Amgen by 65.0% in the first quarter. Catalina Capital Group LLC now owns 2,000 shares of the medical research company’s stock worth $569,000 after acquiring an additional 788 shares during the period. Finally, Avidian Wealth Solutions LLC boosted its stake in shares of Amgen by 10.2% during the 1st quarter. Avidian Wealth Solutions LLC now owns 3,304 shares of the medical research company’s stock worth $939,000 after acquiring an additional 307 shares during the last quarter. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on AMGN shares. Morgan Stanley reduced their price objective on Amgen from $310.00 to $303.00 and set an “equal weight” rating for the company in a research note on Thursday. UBS Group upped their price target on Amgen from $284.00 to $307.00 and gave the stock a “neutral” rating in a research report on Friday, May 3rd. TD Cowen lowered their price objective on Amgen from $370.00 to $360.00 and set a “buy” rating on the stock in a research report on Wednesday, April 17th. Royal Bank of Canada boosted their price objective on Amgen from $328.00 to $332.00 and gave the company an “outperform” rating in a research note on Friday, June 14th. Finally, Truist Financial restated a “buy” rating and set a $320.00 target price on shares of Amgen in a research note on Friday, April 12th. Ten analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $307.00.

Amgen Price Performance

NASDAQ AMGN traded up $3.42 during trading on Thursday, hitting $325.09. 2,241,893 shares of the stock traded hands, compared to its average volume of 2,720,929. The company has a quick ratio of 0.98, a current ratio of 1.42 and a debt-to-equity ratio of 11.96. Amgen Inc. has a 12-month low of $224.09 and a 12-month high of $329.72. The firm has a 50-day simple moving average of $307.86 and a 200-day simple moving average of $294.15. The company has a market capitalization of $174.39 billion, a P/E ratio of 46.38, a price-to-earnings-growth ratio of 2.81 and a beta of 0.58.

Amgen (NASDAQ:AMGN) last posted its earnings results on Thursday, May 2nd. The medical research company reported $3.96 earnings per share for the quarter, beating analysts’ consensus estimates of $3.76 by $0.20. The firm had revenue of $7.45 billion during the quarter, compared to analyst estimates of $7.45 billion. Amgen had a net margin of 12.74% and a return on equity of 156.21%. Amgen’s revenue for the quarter was up 22.0% compared to the same quarter last year. During the same period last year, the firm posted $3.98 earnings per share. As a group, analysts predict that Amgen Inc. will post 19.47 EPS for the current year.

Insiders Place Their Bets

In other news, SVP Nancy A. Grygiel sold 2,117 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $313.09, for a total transaction of $662,811.53. Following the sale, the senior vice president now directly owns 9,883 shares in the company, valued at approximately $3,094,268.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.69% of the company’s stock.

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.