Brown Advisory Inc. Sells 241,107 Shares of Amgen Inc. (NASDAQ:AMGN)

Brown Advisory Inc. reduced its position in Amgen Inc. (NASDAQ:AMGN - Free Report) by 66.7% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 120,449 shares of the medical research company's stock after selling 241,107 shares during the period. Brown Advisory Inc.'s holdings in Amgen were worth $37,526,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the company. Horst & Graben Wealth Management LLC bought a new stake in Amgen in the first quarter valued at approximately $219,000. Beverly Hills Private Wealth LLC increased its holdings in shares of Amgen by 2.3% during the 1st quarter. Beverly Hills Private Wealth LLC now owns 1,932 shares of the medical research company's stock worth $602,000 after acquiring an additional 44 shares during the last quarter. Crossmark Global Holdings Inc. raised its stake in Amgen by 5.6% in the 1st quarter. Crossmark Global Holdings Inc. now owns 80,889 shares of the medical research company's stock valued at $25,201,000 after acquiring an additional 4,282 shares during the period. U.S. Capital Wealth Advisors LLC lifted its holdings in Amgen by 7.8% during the 1st quarter. U.S. Capital Wealth Advisors LLC now owns 17,771 shares of the medical research company's stock valued at $5,537,000 after purchasing an additional 1,291 shares during the last quarter. Finally, Pacific Point Advisors LLC lifted its holdings in Amgen by 7.7% during the 1st quarter. Pacific Point Advisors LLC now owns 5,201 shares of the medical research company's stock valued at $1,620,000 after purchasing an additional 374 shares during the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently commented on AMGN shares. Guggenheim began coverage on shares of Amgen in a research note on Tuesday, May 20th. They issued a "neutral" rating and a $288.00 price target on the stock. Morgan Stanley reaffirmed an "equal weight" rating on shares of Amgen in a research report on Friday, May 2nd. William Blair reiterated an "outperform" rating on shares of Amgen in a research note on Tuesday, June 24th. Erste Group Bank downgraded Amgen from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 8th. Finally, UBS Group reaffirmed a "neutral" rating and issued a $315.00 price objective (down from $319.00) on shares of Amgen in a report on Friday, May 2nd. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Amgen has a consensus rating of "Hold" and an average target price of $307.82.

Amgen Price Performance

Shares of NASDAQ AMGN traded down $5.10 during trading hours on Friday, hitting $295.27. 1,619,752 shares of the stock were exchanged, compared to its average volume of 2,845,152. The company's fifty day simple moving average is $283.56 and its two-hundred day simple moving average is $287.97. The company has a market cap of $158.77 billion, a PE ratio of 26.94, a price-to-earnings-growth ratio of 2.72 and a beta of 0.49. The company has a debt-to-equity ratio of 8.70, a quick ratio of 0.88 and a current ratio of 1.17. 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 issued its earnings results on Thursday, May 1st. The medical research company reported $4.90 earnings per share for the quarter, beating analysts' consensus estimates of $4.18 by $0.72. Amgen had a return on equity of 176.11% and a net margin of 17.39%. The firm had revenue of $8.15 billion for the quarter, compared to the consensus estimate of $8.05 billion. During the same quarter last year, the business posted $3.96 EPS. The company's revenue was up 9.4% compared to the same quarter last year. On average, sell-side analysts predict that Amgen Inc. will post 20.62 EPS for the current year.

Insider Transactions at Amgen

In other 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 completion of the transaction, the senior vice president owned 8,162 shares of the company's stock, valued at approximately $2,364,368.16. This 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 can be accessed through the SEC website. 0.76% of the stock is currently owned by corporate insiders.

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.