Amgen Inc. (NASDAQ:AMGN) Stock Position Decreased by Bellevue Group AG

Bellevue Group AG cut its stake in shares of Amgen Inc. (NASDAQ:AMGN) by 35.3% in the 1st quarter, HoldingsChannel.com reports. The fund owned 22,139 shares of the medical research company’s stock after selling 12,066 shares during the quarter. Bellevue Group AG’s holdings in Amgen were worth $6,295,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of AMGN. Horizon Financial Services LLC bought a new stake in shares of Amgen during the 1st quarter worth $28,000. BOK Financial Private Wealth Inc. acquired a new stake in shares of Amgen in the fourth quarter worth $29,000. United Community Bank acquired a new stake in shares of Amgen in the fourth quarter worth $29,000. Planned Solutions Inc. acquired a new stake in shares of Amgen in the fourth quarter worth $30,000. Finally, Delos Wealth Advisors LLC boosted its position in shares of Amgen by 2,500.0% in the fourth quarter. Delos Wealth Advisors LLC now owns 104 shares of the medical research company’s stock worth $30,000 after buying an additional 100 shares during the period. 76.50% of the stock is owned by institutional investors.

Amgen Stock Performance

Shares of Amgen stock traded up $0.55 during trading on Friday, reaching $334.85. The company’s stock had a trading volume of 1,515,471 shares, compared to its average volume of 1,821,447. Amgen Inc. has a one year low of $228.21 and a one year high of $346.85. The firm has a market cap of $179.62 billion, a price-to-earnings ratio of 47.84, a price-to-earnings-growth ratio of 2.78 and a beta of 0.58. The business’s fifty day moving average price is $313.96 and its 200-day moving average price is $297.24. The company has a debt-to-equity ratio of 11.96, a quick ratio of 0.98 and a current ratio of 1.42.

Amgen (NASDAQ:AMGN) last released its earnings results on Thursday, May 2nd. The medical research company reported $3.96 earnings per share for the quarter, topping analysts’ consensus estimates of $3.76 by $0.20. Amgen had a return on equity of 156.21% and a net margin of 12.74%. The business had revenue of $7.45 billion for the quarter, compared to the consensus estimate of $7.45 billion. During the same period last year, the business earned $3.98 earnings per share. The firm’s revenue for the quarter was up 22.0% compared to the same quarter last year. As a group, equities research analysts predict that Amgen Inc. will post 19.5 earnings per share for the current year.

Wall Street Analyst Weigh In

AMGN has been the subject of several recent research reports. BMO Capital Markets increased their price objective on Amgen from $336.00 to $355.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. Argus increased their price objective on Amgen from $300.00 to $340.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. UBS Group increased their price objective on Amgen from $284.00 to $307.00 and gave the stock a “neutral” rating in a report on Friday, May 3rd. Mizuho increased their price objective on Amgen from $223.00 to $235.00 and gave the stock a “neutral” rating in a report on Thursday, May 9th. Finally, William Blair upgraded Amgen from a “market perform” rating to an “outperform” rating in a report on Friday, May 3rd. Ten research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, Amgen currently has an average rating of “Moderate Buy” and a consensus target price of $312.63.

Insider Buying and Selling

In related news, SVP Nancy A. Grygiel sold 2,117 shares of Amgen stock in a transaction dated Friday, May 3rd. The stock was 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 of the company’s stock, valued at $3,094,268.47. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.69% of the stock is owned by company insiders.

About Amgen

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.