Amgen Inc. (NASDAQ:AMGN) Shares Sold by Saturna Capital Corp

Saturna Capital Corp decreased its stake in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 16.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 114,120 shares of the medical research company's stock after selling 22,537 shares during the quarter. Saturna Capital Corp's holdings in Amgen were worth $35,554,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. Brighton Jones LLC boosted its holdings in shares of Amgen by 23.5% in the 4th quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company's stock valued at $7,159,000 after acquiring an additional 5,226 shares during the last quarter. Proficio Capital Partners LLC raised its position in shares of Amgen by 35.0% in the fourth quarter. Proficio Capital Partners LLC now owns 1,806 shares of the medical research company's stock valued at $471,000 after buying an additional 468 shares during the last quarter. Madison Investment Advisors LLC acquired a new stake in shares of Amgen in the fourth quarter valued at about $1,948,000. Trillium Asset Management LLC increased its position in Amgen by 4.2% during the fourth quarter. Trillium Asset Management LLC now owns 911 shares of the medical research company's stock worth $237,000 after purchasing an additional 37 shares during the last quarter. Finally, OVERSEA CHINESE BANKING Corp Ltd acquired a new stake in Amgen during the fourth quarter worth about $219,000. Institutional investors and hedge funds own 76.50% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on AMGN shares. Cantor Fitzgerald reiterated a "neutral" rating and set a $305.00 price target on shares of Amgen in a research report on Tuesday, June 24th. Erste Group Bank lowered shares of Amgen from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 8th. UBS Group reaffirmed a "neutral" rating and set a $315.00 price objective (down from $319.00) on shares of Amgen in a research report on Friday, May 2nd. Guggenheim assumed coverage on shares of Amgen in a research report on Tuesday, May 20th. They set a "neutral" rating and a $288.00 price objective for the company. Finally, Mizuho lifted their price objective on shares of Amgen from $235.00 to $280.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 7th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $307.82.

Insider Buying and Selling at Amgen

In related news, SVP Rachna Khosla sold 1,500 shares of the stock in a transaction dated 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 directly owned 8,162 shares of the company's stock, valued at approximately $2,364,368.16. This represents a 15.52% decrease in their position. The sale 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 company insiders.

Amgen Stock Performance

Shares of AMGN opened at $298.25 on Friday. The company has a debt-to-equity ratio of 8.70, a quick ratio of 0.88 and a current ratio of 1.17. The stock has a market capitalization of $160.37 billion, a P/E ratio of 27.21, a P/E/G ratio of 2.70 and a beta of 0.49. The company's fifty day moving average is $285.32 and its two-hundred day moving average is $288.91. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $346.85.

Amgen (NASDAQ:AMGN - Get Free Report) last announced its quarterly earnings data 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. The company had revenue of $8.15 billion for the quarter, compared to analysts' expectations of $8.05 billion. Amgen had a net margin of 17.39% and a return on equity of 176.11%. Amgen's revenue was up 9.4% compared to the same quarter last year. During the same period in the previous year, the company posted $3.96 EPS. On average, sell-side analysts predict that Amgen Inc. will post 20.62 earnings per share for the current year.

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.

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