Legato Capital Management LLC Sells 905 Shares of Amgen Inc. (NASDAQ:AMGN)

Legato Capital Management LLC lessened its position in Amgen Inc. (NASDAQ:AMGN - Free Report) by 10.4% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 7,831 shares of the medical research company's stock after selling 905 shares during the period. Legato Capital Management LLC's holdings in Amgen were worth $2,440,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. KPP Advisory Services LLC boosted its holdings in Amgen by 87.1% during the 1st quarter. KPP Advisory Services LLC now owns 5,833 shares of the medical research company's stock valued at $1,817,000 after acquiring an additional 2,716 shares during the period. Advisor Resource Council bought a new position in Amgen during the 1st quarter valued at approximately $1,331,000. DLK Investment Management LLC grew its holdings in shares of Amgen by 7.3% in the first quarter. DLK Investment Management LLC now owns 20,491 shares of the medical research company's stock worth $6,384,000 after acquiring an additional 1,387 shares during the period. Aire Advisors LLC grew its holdings in shares of Amgen by 26.3% in the fourth quarter. Aire Advisors LLC now owns 13,280 shares of the medical research company's stock worth $3,461,000 after acquiring an additional 2,762 shares during the period. Finally, Mariner LLC lifted its position in Amgen by 2.2% during the fourth quarter. Mariner LLC now owns 914,380 shares of the medical research company's stock valued at $238,316,000 after purchasing an additional 19,250 shares in the last quarter. Hedge funds and other institutional investors 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 firm's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $289.68, for a total value of $434,520.00. Following the completion of the sale, the senior vice president owned 8,162 shares of the company's stock, valued at $2,364,368.16. This trade represents a 15.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.69% of the company's stock.

Amgen Stock Up 3.3%

Shares of NASDAQ AMGN opened at $305.69 on Wednesday. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $346.85. The business has a 50-day simple moving average of $285.90 and a two-hundred day simple moving average of $289.56. 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 company has a market cap of $164.37 billion, a P/E ratio of 27.89, a P/E/G ratio of 2.67 and a beta of 0.49.

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 for the quarter, beating analysts' consensus estimates of $4.18 by $0.72. The company 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 for the quarter was up 9.4% compared to the same quarter last year. During the same period last year, the firm posted $3.96 EPS. Research analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently commented on the company. Guggenheim started coverage on Amgen in a report on Tuesday, May 20th. They set a "neutral" rating and a $288.00 price objective for the company. Piper Sandler restated an "overweight" rating and set a $328.00 price target on shares of Amgen in a report on Friday, June 27th. Erste Group Bank cut shares of Amgen from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 8th. Citigroup boosted their price target on shares of Amgen from $300.00 to $305.00 and gave the stock a "neutral" rating in a research note on Tuesday. Finally, Morgan Stanley restated an "equal weight" rating on shares of Amgen in a research report on Friday, May 2nd. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $308.77.

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.

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