New York State Teachers Retirement System Decreases Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

New York State Teachers Retirement System decreased its holdings in Amgen Inc. (NASDAQ:AMGN - Free Report) by 5.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 439,387 shares of the medical research company's stock after selling 26,112 shares during the period. New York State Teachers Retirement System owned about 0.08% of Amgen worth $136,891,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Brighton Jones LLC boosted its holdings in Amgen by 23.5% in the fourth quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company's stock worth $7,159,000 after purchasing an additional 5,226 shares during the last quarter. Fisher Asset Management LLC raised its stake in Amgen by 285.4% during the 4th quarter. Fisher Asset Management LLC now owns 394,489 shares of the medical research company's stock valued at $102,820,000 after buying an additional 292,137 shares during the last quarter. Sherman Asset Management Inc. bought a new position in shares of Amgen during the 4th quarter valued at $181,000. Capital Wealth Planning LLC boosted its stake in shares of Amgen by 9.9% in the 4th quarter. Capital Wealth Planning LLC now owns 1,714,116 shares of the medical research company's stock worth $446,767,000 after buying an additional 154,341 shares during the last quarter. Finally, PCG Asset Management LLC purchased a new position in shares of Amgen in the 4th quarter worth $248,000. Hedge funds and other institutional investors own 76.50% of the company's stock.

Wall Street Analysts Forecast Growth

AMGN has been the subject of a number of research reports. Piper Sandler reiterated an "overweight" rating and set a $328.00 price objective on shares of Amgen in a research report on Friday. Guggenheim began coverage on shares of Amgen in a research report on Tuesday, May 20th. They set a "neutral" rating and a $288.00 price target for the company. Royal Bank Of Canada lowered their price objective on shares of Amgen from $324.00 to $320.00 and set an "outperform" rating on the stock in a research note on Friday, May 2nd. Johnson Rice set a $294.00 target price on shares of Amgen in a research report on Wednesday, March 5th. Finally, Morgan Stanley reaffirmed an "equal weight" rating on shares of Amgen in a report on Friday, May 2nd. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $307.82.

Amgen Price Performance

AMGN stock traded up $2.08 during midday trading on Monday, hitting $279.21. The company's stock had a trading volume of 2,963,521 shares, compared to its average volume of 2,830,841. The company has a quick ratio of 0.88, a current ratio of 1.17 and a debt-to-equity ratio of 8.70. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $346.85. The company has a 50 day moving average of $281.02 and a two-hundred day moving average of $286.19. The firm has a market capitalization of $150.13 billion, a price-to-earnings ratio of 25.48, a price-to-earnings-growth ratio of 2.51 and a beta of 0.51.

Amgen (NASDAQ:AMGN - Get Free Report) last released its earnings results on Thursday, May 1st. The medical research company reported $4.90 EPS for the quarter, topping the consensus estimate of $4.18 by $0.72. The firm had revenue of $8.15 billion for the quarter, compared to the consensus estimate of $8.05 billion. Amgen had a net margin of 17.39% and a return on equity of 176.11%. 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 firm earned $3.96 earnings per share. On average, analysts expect that Amgen Inc. will post 20.62 EPS for the current year.

Insider Activity at Amgen

In other news, SVP Rachna Khosla sold 1,500 shares of Amgen stock in a transaction dated Thursday, June 5th. The stock was 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. The trade was a 15.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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.