Handelsbanken Fonder AB Reduces Holdings in Amgen Inc. (NASDAQ:AMGN)

Handelsbanken Fonder AB lessened its position in Amgen Inc. (NASDAQ:AMGN - Free Report) by 4.1% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 420,818 shares of the medical research company's stock after selling 17,985 shares during the period. Handelsbanken Fonder AB owned about 0.08% of Amgen worth $131,106,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Nepsis Inc. lifted its position in Amgen by 4.2% during the 1st quarter. Nepsis Inc. now owns 68,752 shares of the medical research company's stock valued at $21,420,000 after purchasing an additional 2,780 shares during the period. SG Americas Securities LLC increased its stake in shares of Amgen by 348.5% in the 1st quarter. SG Americas Securities LLC now owns 47,798 shares of the medical research company's stock valued at $14,891,000 after acquiring an additional 37,140 shares during the last quarter. Dividend Assets Capital LLC increased its stake in Amgen by 19.6% during the 1st quarter. Dividend Assets Capital LLC now owns 38,402 shares of the medical research company's stock worth $11,964,000 after purchasing an additional 6,284 shares in the last quarter. Abacus FCF Advisors LLC increased its stake in Amgen by 2.8% during the 1st quarter. Abacus FCF Advisors LLC now owns 19,033 shares of the medical research company's stock worth $5,930,000 after purchasing an additional 517 shares in the last quarter. Finally, Walker Asset Management LLC increased its stake in Amgen by 4.4% during the 1st quarter. Walker Asset Management LLC now owns 1,421 shares of the medical research company's stock worth $443,000 after purchasing an additional 60 shares in the last quarter. Institutional investors and hedge funds own 76.50% of the company's stock.

Insider Buying and Selling at Amgen

In other news, SVP Rachna Khosla sold 1,500 shares of the business'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 sale, the senior vice president now owns 8,162 shares in the company, valued at $2,364,368.16. The trade was a 15.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.76% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on AMGN shares. Piper Sandler decreased their price target 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. Cantor Fitzgerald began coverage on Amgen in a report on Tuesday, April 22nd. They issued a "neutral" rating and a $305.00 price objective for the company. Guggenheim began coverage on Amgen in a report on Tuesday, May 20th. They issued a "neutral" rating and a $288.00 price objective for the company. Mizuho increased their price objective on Amgen from $235.00 to $280.00 and gave the company a "neutral" rating in a report on Wednesday, May 7th. Finally, UBS Group reaffirmed a "neutral" rating and set a $315.00 price target (down previously from $319.00) on shares of Amgen in a report on Friday, May 2nd. Two investment analysts have rated the stock with a sell rating, twelve have assigned 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.com, Amgen has a consensus rating of "Hold" and a consensus target price of $309.22.

Amgen Trading Down 0.6%

Shares of AMGN stock traded down $1.62 during mid-day trading on Wednesday, reaching $291.81. 1,827,452 shares of the stock traded hands, compared to its average volume of 2,812,318. The stock's fifty day simple moving average is $280.93 and its two-hundred day simple moving average is $285.41. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $346.85. The company has a market cap of $156.91 billion, a price-to-earnings ratio of 38.65, a price-to-earnings-growth ratio of 2.63 and a beta of 0.51. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 9.62.

Amgen (NASDAQ:AMGN - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $8.15 billion for the quarter, compared to analyst estimates of $8.05 billion. Amgen had a return on equity of 176.32% and a net margin of 12.24%. The firm's quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the previous year, the firm earned $3.96 earnings per share. On average, research analysts anticipate that Amgen Inc. will post 20.62 EPS for the current fiscal year.

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.