Amgen Inc. (NASDAQ:AMGN) SVP Rachna Khosla Sells 1,500 Shares

Amgen Inc. (NASDAQ:AMGN - Get Free Report) SVP Rachna Khosla sold 1,500 shares of the stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $289.68, for a total value of $434,520.00. Following the sale, the senior vice president now directly owns 8,162 shares in the company, 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 through this hyperlink.

Amgen Trading Up 1.1%

Shares of Amgen stock traded up $3.23 on Friday, hitting $290.33. 1,996,092 shares of the company traded hands, compared to its average volume of 2,809,999. The stock's 50 day moving average price is $281.91 and its 200-day moving average price is $285.36. The company has a market cap of $156.11 billion, a PE ratio of 38.45, a PEG ratio of 2.63 and a beta of 0.51. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $346.85. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 9.62.

Amgen (NASDAQ:AMGN - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The medical research company reported $4.90 EPS for the quarter, beating the consensus estimate of $4.18 by $0.72. The business had revenue of $8.15 billion during the quarter, compared to analyst estimates of $8.05 billion. Amgen had a net margin of 12.24% and a return on equity of 176.32%. The company's quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.96 EPS. Equities research analysts predict that Amgen Inc. will post 20.62 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Morgan Stanley reaffirmed an "equal weight" rating on shares of Amgen in a research report on Friday, May 2nd. Piper Sandler decreased their target price on shares of Amgen from $329.00 to $328.00 and set an "overweight" rating on the stock in a research note on Friday, May 16th. Mizuho upped their price objective on Amgen from $235.00 to $280.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 7th. Guggenheim initiated coverage on shares of Amgen in a research note on Tuesday, May 20th. They set a "neutral" rating and a $288.00 target price for the company. Finally, Wall Street Zen upgraded Amgen from a "buy" rating to a "strong-buy" rating in a report on Sunday, May 18th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $309.22.

Hedge Funds Weigh In On Amgen

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Ascent Wealth Partners LLC increased its position in Amgen by 0.7% during the 4th quarter. Ascent Wealth Partners LLC now owns 9,024 shares of the medical research company's stock valued at $2,352,000 after buying an additional 64 shares in the last quarter. ICICI Prudential Asset Management Co Ltd raised its stake in shares of Amgen by 242.2% during the 4th quarter. ICICI Prudential Asset Management Co Ltd now owns 23,999 shares of the medical research company's stock valued at $6,255,000 after buying an additional 16,985 shares during the last quarter. Fisher Asset Management LLC lifted its holdings in Amgen by 285.4% in the fourth quarter. Fisher Asset Management LLC now owns 394,489 shares of the medical research company's stock valued at $102,820,000 after acquiring an additional 292,137 shares during the period. Aire Advisors LLC grew its position in Amgen by 26.3% during the fourth quarter. Aire Advisors LLC now owns 13,280 shares of the medical research company's stock valued at $3,461,000 after buying an additional 2,762 shares during the period. Finally, Beacon Harbor Wealth Advisors Inc. acquired a new position in Amgen in the 4th quarter worth about $3,531,000. Hedge funds and other institutional investors own 76.50% of the company's stock.

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.

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