Choreo LLC Reduces Holdings in Amgen Inc. (NASDAQ:AMGN)

Choreo LLC decreased its position in Amgen Inc. (NASDAQ:AMGN - Free Report) by 4.4% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 18,206 shares of the medical research company's stock after selling 842 shares during the period. Choreo LLC's holdings in Amgen were worth $5,672,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Greenwood Gearhart Inc. bought a new stake in Amgen during the 1st quarter valued at $236,000. PFG Advisors raised its holdings in Amgen by 37.3% during the 1st quarter. PFG Advisors now owns 17,557 shares of the medical research company's stock valued at $5,470,000 after buying an additional 4,769 shares during the last quarter. Ignite Planners LLC raised its holdings in Amgen by 21.8% during the 1st quarter. Ignite Planners LLC now owns 2,273 shares of the medical research company's stock valued at $645,000 after buying an additional 407 shares during the last quarter. Obermeyer Wealth Partners raised its holdings in Amgen by 5.6% during the 1st quarter. Obermeyer Wealth Partners now owns 4,529 shares of the medical research company's stock valued at $1,411,000 after buying an additional 240 shares during the last quarter. Finally, Van Strum & Towne Inc. raised its holdings in Amgen by 2.2% during the 1st quarter. Van Strum & Towne Inc. now owns 32,856 shares of the medical research company's stock valued at $10,236,000 after buying an additional 711 shares during the last quarter. 76.50% of the stock is owned by hedge funds and other institutional investors.

Amgen Stock Performance

NASDAQ:AMGN traded down $1.97 during trading hours on Friday, reaching $306.58. The company had a trading volume of 1,451,093 shares, compared to its average volume of 1,935,961. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $340.89. The firm has a market cap of $164.85 billion, a PE ratio of 27.97, a price-to-earnings-growth ratio of 2.65 and a beta of 0.49. The business's 50 day moving average price is $289.39 and its 200-day moving average price is $290.88. The company has a debt-to-equity ratio of 8.70, a current ratio of 1.17 and a quick ratio of 0.88.

Amgen (NASDAQ:AMGN - Get Free Report) last announced its earnings results on Thursday, May 1st. The medical research company reported $4.90 earnings per share for the quarter, topping the consensus estimate 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 return on equity of 176.11% and a net margin of 17.39%. The business's quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the prior year, the company posted $3.96 EPS. Research analysts forecast that Amgen Inc. will post 20.62 EPS for the current year.

Insider Buying and Selling at Amgen

In other news, SVP Rachna Khosla sold 1,500 shares of the company's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $289.68, for a total transaction of $434,520.00. Following the completion of the transaction, the senior vice president directly owned 8,162 shares of the company's stock, valued at $2,364,368.16. This represents a 15.52% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 0.76% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts have issued reports on AMGN shares. Erste Group Bank downgraded shares of Amgen from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 8th. Citigroup boosted their price objective on shares of Amgen from $300.00 to $305.00 and gave the company a "neutral" rating in a research report on Tuesday. Wall Street Zen raised shares of Amgen from a "buy" rating to a "strong-buy" rating in a research report on Sunday, May 18th. Royal Bank Of Canada reduced their price objective on shares of Amgen from $324.00 to $320.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. Finally, Piper Sandler reissued an "overweight" rating and set a $328.00 price objective on shares of Amgen in a research report on Friday, June 27th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Amgen has a consensus rating of "Hold" and an average price target of $307.27.

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.