Amgen Inc. (NASDAQ:AMGN) Position Trimmed by Edgestream Partners L.P.

Edgestream Partners L.P. lessened its holdings in Amgen Inc. (NASDAQ:AMGN - Free Report) by 61.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,254 shares of the medical research company's stock after selling 23,178 shares during the quarter. Edgestream Partners L.P.'s holdings in Amgen were worth $4,441,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Pinney & Scofield Inc. acquired a new position in Amgen in the fourth quarter worth $26,000. First Pacific Financial boosted its holdings 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 period. Ritter Daniher Financial Advisory LLC DE boosted its holdings in Amgen by 66.2% in the fourth quarter. Ritter Daniher Financial Advisory LLC DE now owns 128 shares of the medical research company's stock worth $33,000 after purchasing an additional 51 shares during the period. Heck Capital Advisors LLC acquired a new position in Amgen in the fourth quarter worth $36,000. Finally, Legacy Investment Solutions LLC boosted its holdings in Amgen by 46.9% in the fourth quarter. Legacy Investment Solutions LLC now owns 141 shares of the medical research company's stock worth $37,000 after purchasing an additional 45 shares during the period. Institutional investors and hedge funds own 76.50% of the company's stock.

Amgen Price Performance

Amgen stock traded down $0.73 during midday trading on Friday, hitting $297.52. The company's stock had a trading volume of 515,399 shares, compared to its average volume of 2,830,862. The company has a quick ratio of 0.88, a current ratio of 1.17 and a debt-to-equity ratio of 8.70. The stock's 50-day moving average price is $285.32 and its 200-day moving average price is $288.91. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $346.85. The company has a market capitalization of $159.98 billion, a PE ratio of 27.14, a price-to-earnings-growth ratio of 2.70 and a beta of 0.49.

Amgen (NASDAQ:AMGN - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The medical research company reported $4.90 earnings per share 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 analysts' expectations of $8.05 billion. Amgen had a return on equity of 176.11% and a net margin of 17.39%. Amgen's revenue was up 9.4% on a year-over-year basis. During the same quarter last year, the business posted $3.96 EPS. Analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related 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 transaction, the senior vice president owned 8,162 shares of the company's stock, valued at approximately $2,364,368.16. This trade represents a 15.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.76% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Guggenheim began coverage on shares of Amgen in a report on Tuesday, May 20th. They issued a "neutral" rating and a $288.00 price objective for the company. Cantor Fitzgerald restated a "neutral" rating and set a $305.00 price target on shares of Amgen in a research report on Tuesday, June 24th. Morgan Stanley reaffirmed an "equal weight" rating on shares of Amgen in a report on Friday, May 2nd. Royal Bank Of Canada dropped their price objective on shares of Amgen from $324.00 to $320.00 and set an "outperform" rating on the stock in a report on Friday, May 2nd. Finally, UBS Group reaffirmed a "neutral" rating and issued a $315.00 price objective (down previously 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 assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, Amgen has an average rating of "Hold" and an average price target of $307.82.

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.