Corundum Group Inc. Has $607,000 Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

Corundum Group Inc. reduced its position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 51.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,948 shares of the medical research company's stock after selling 2,048 shares during the period. Corundum Group Inc.'s holdings in Amgen were worth $607,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Advisor Resource Council acquired a new stake in Amgen in the 1st quarter valued at $1,331,000. Fisher Asset Management LLC raised its position in shares of 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 acquiring an additional 292,137 shares during the last quarter. Aire Advisors LLC grew its stake in shares of Amgen by 26.3% during the fourth quarter. Aire Advisors LLC now owns 13,280 shares of the medical research company's stock worth $3,461,000 after purchasing an additional 2,762 shares during the period. Beacon Harbor Wealth Advisors Inc. bought a new stake in Amgen in the fourth quarter valued at about $3,531,000. Finally, Mariner LLC boosted its stake in Amgen by 2.2% during the 4th quarter. Mariner LLC now owns 914,380 shares of the medical research company's stock worth $238,316,000 after acquiring an additional 19,250 shares during the last quarter. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Amgen news, SVP Rachna Khosla sold 1,500 shares of the company's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $289.68, for a total transaction of $434,520.00. Following the sale, the senior vice president now owns 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.76% of the stock is owned by corporate insiders.

Amgen Price Performance

Shares of AMGN traded down $1.24 during trading hours on Thursday, hitting $279.11. 2,998,199 shares of the company were exchanged, compared to its average volume of 2,829,810. 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 fifty-two week low of $253.30 and a fifty-two week high of $346.85. The company has a market cap of $150.08 billion, a price-to-earnings ratio of 25.47, a P/E/G ratio of 2.54 and a beta of 0.51. The firm's fifty day moving average is $280.99 and its 200 day moving average is $286.00.

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, topping analysts' consensus estimates 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 business's revenue for the quarter was up 9.4% on a year-over-year basis. During the same period in the prior year, the company posted $3.96 earnings per share. On average, equities analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on AMGN. Johnson Rice set a $294.00 price target on shares of Amgen in a report on Wednesday, March 5th. 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. Wall Street Zen upgraded Amgen from a "buy" rating to a "strong-buy" rating in a report on Sunday, May 18th. Bank of America lifted their price objective on shares of Amgen from $275.00 to $294.00 and gave the company an "underperform" rating in a report on Wednesday, March 5th. Finally, Cantor Fitzgerald restated a "neutral" rating and set a $305.00 price objective on shares of Amgen in a research note on Tuesday. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $309.22.

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.