Amgen Inc. (NASDAQ:AMGN) Shares Sold by Caldwell Sutter Capital Inc.

Caldwell Sutter Capital Inc. trimmed its holdings in Amgen Inc. (NASDAQ:AMGN) by 4.0% during the first quarter, Holdings Channel.com reports. The fund owned 1,952 shares of the medical research company’s stock after selling 82 shares during the period. Caldwell Sutter Capital Inc.’s holdings in Amgen were worth $555,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in AMGN. Lazard Asset Management LLC lifted its holdings in Amgen by 114.5% in the 3rd quarter. Lazard Asset Management LLC now owns 36,595 shares of the medical research company’s stock valued at $9,833,000 after purchasing an additional 19,532 shares in the last quarter. Axxcess Wealth Management LLC lifted its holdings in Amgen by 33.2% in the 3rd quarter. Axxcess Wealth Management LLC now owns 13,844 shares of the medical research company’s stock valued at $3,721,000 after purchasing an additional 3,454 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in Amgen by 4.0% in the 3rd quarter. Ameriprise Financial Inc. now owns 2,127,468 shares of the medical research company’s stock valued at $574,427,000 after purchasing an additional 81,655 shares in the last quarter. Adage Capital Partners GP L.L.C. lifted its holdings in Amgen by 98.4% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 722,250 shares of the medical research company’s stock valued at $194,112,000 after purchasing an additional 358,137 shares in the last quarter. Finally, Evergreen Capital Management LLC lifted its holdings in Amgen by 19.1% in the 3rd quarter. Evergreen Capital Management LLC now owns 6,998 shares of the medical research company’s stock valued at $1,881,000 after purchasing an additional 1,123 shares in the last quarter. 76.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on AMGN shares. Mizuho increased their price objective on shares of Amgen from $223.00 to $235.00 and gave the stock a “neutral” rating in a report on Thursday, May 9th. Argus increased their price objective on shares of Amgen from $300.00 to $340.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. Morgan Stanley increased their price objective on shares of Amgen from $271.00 to $310.00 and gave the stock an “equal weight” rating in a report on Friday, May 3rd. BMO Capital Markets increased their price objective on shares of Amgen from $336.00 to $355.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. Finally, StockNews.com upgraded shares of Amgen from a “hold” rating to a “buy” rating in a report on Friday, May 3rd. Ten research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $307.35.

Amgen Stock Down 0.4 %

Shares of AMGN stock traded down $1.39 during mid-day trading on Wednesday, reaching $309.38. 995,933 shares of the company were exchanged, compared to its average volume of 2,759,290. Amgen Inc. has a fifty-two week low of $218.44 and a fifty-two week high of $329.72. The company has a debt-to-equity ratio of 11.96, a quick ratio of 0.98 and a current ratio of 1.42. The company has a market capitalization of $165.96 billion, a P/E ratio of 44.50, a P/E/G ratio of 2.82 and a beta of 0.58. The business’s 50 day simple moving average is $303.09 and its 200 day simple moving average is $292.80.

Amgen (NASDAQ:AMGN) last released its quarterly 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 net margin of 12.74% and a return on equity of 156.21%. The business had revenue of $7.45 billion during the quarter, compared to the consensus estimate of $7.45 billion. During the same quarter last year, the company earned $3.98 earnings per share. The business’s quarterly revenue was up 22.0% compared to the same quarter last year. Research analysts predict that Amgen Inc. will post 19.47 earnings per share for the current year.

Insider Transactions at Amgen

In other news, SVP Nancy A. Grygiel sold 2,117 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $313.09, for a total transaction of $662,811.53. Following the completion of the sale, the senior vice president now owns 9,883 shares of the company’s stock, valued at $3,094,268.47. The transaction 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.

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.