Bessemer Group Inc. Sells 15,812 Shares of Amgen Inc. (NASDAQ:AMGN)

Bessemer Group Inc. lessened its holdings in Amgen Inc. (NASDAQ:AMGN - Free Report) by 39.3% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 24,444 shares of the medical research company's stock after selling 15,812 shares during the period. Bessemer Group Inc.'s holdings in Amgen were worth $7,616,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. First Pacific Financial increased its position in Amgen by 304.5% in the first quarter. First Pacific Financial now owns 89 shares of the medical research company's stock worth $28,000 after purchasing an additional 67 shares during the last quarter. Aurora Private Wealth Inc. purchased a new position in Amgen during the first quarter worth $4,483,000. Independent Solutions Wealth Management LLC boosted its stake in Amgen by 0.8% during the first quarter. Independent Solutions Wealth Management LLC now owns 8,987 shares of the medical research company's stock worth $2,800,000 after buying an additional 74 shares during the period. Spire Wealth Management boosted its stake in Amgen by 249.3% during the first quarter. Spire Wealth Management now owns 18,345 shares of the medical research company's stock worth $5,715,000 after buying an additional 13,093 shares during the period. Finally, Mattern Capital Management LLC boosted its stake in Amgen by 1.1% during the first quarter. Mattern Capital Management LLC now owns 33,041 shares of the medical research company's stock worth $10,294,000 after buying an additional 364 shares during the period. Institutional investors own 76.50% of the company's stock.

Insiders Place Their Bets

In other Amgen news, SVP Rachna Khosla sold 1,500 shares of the business's 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 completion of the transaction, the senior vice president now directly owns 8,162 shares in the company, 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 the SEC website. 0.76% of the stock is currently owned by corporate insiders.

Amgen Stock Performance

Shares of Amgen stock opened at $279.11 on Friday. The company has a market capitalization of $150.08 billion, a PE ratio of 25.47, a P/E/G ratio of 2.54 and a beta of 0.51. 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 company has a 50-day simple moving average of $281.02 and a two-hundred day simple moving average of $286.01. Amgen Inc. has a one year low of $253.30 and a one year high of $346.85.

Amgen (NASDAQ:AMGN - Get Free Report) last announced its earnings results on Thursday, May 1st. The medical research company reported $4.90 EPS for the quarter, topping analysts' consensus estimates of $4.18 by $0.72. The business had revenue of $8.15 billion during 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 firm's revenue was up 9.4% on a year-over-year basis. During the same period in the previous year, the company posted $3.96 earnings per share. Research analysts expect that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have commented on AMGN shares. Guggenheim started coverage on shares of Amgen in a research note on Tuesday, May 20th. They set a "neutral" rating and a $288.00 price objective for the company. Bank of America lifted their price objective on shares of Amgen from $275.00 to $294.00 and gave the stock an "underperform" rating in a research note on Wednesday, March 5th. Piper Sandler dropped their price objective on shares of Amgen from $329.00 to $328.00 and set an "overweight" rating for the company in a research note on Friday, May 16th. Royal Bank Of Canada dropped their price objective on shares of Amgen from $324.00 to $320.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. Finally, Morgan Stanley reissued an "equal weight" rating on shares of Amgen in a research note on Friday, May 2nd. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Amgen has a consensus rating of "Hold" and an average price target of $309.22.

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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