Lmcg Investments LLC Trims Stock Position in Amgen Inc. (NASDAQ:AMGN)

Lmcg Investments LLC trimmed its holdings in Amgen Inc. (NASDAQ:AMGN - Free Report) by 4.6% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 35,678 shares of the medical research company's stock after selling 1,726 shares during the quarter. Lmcg Investments LLC's holdings in Amgen were worth $11,115,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Gilman Hill Asset Management LLC purchased a new position in shares of Amgen during the first quarter valued at approximately $233,000. Wealth Group Ltd. bought a new stake in Amgen in the 1st quarter worth approximately $236,000. HF Advisory Group LLC raised its stake in Amgen by 8.3% during the 1st quarter. HF Advisory Group LLC now owns 2,289 shares of the medical research company's stock valued at $713,000 after buying an additional 176 shares during the last quarter. Warren Street Wealth Advisors LLC bought a new position in shares of Amgen during the 1st quarter valued at $287,000. Finally, Lifestyle Asset Management Inc. purchased a new position in shares of Amgen in the 1st quarter worth $205,000. Hedge funds and other institutional investors own 76.50% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on AMGN. Piper Sandler lowered their target price on Amgen from $329.00 to $328.00 and set an "overweight" rating on the stock in a report on Friday, May 16th. Johnson Rice set a $294.00 price objective on shares of Amgen in a report on Wednesday, March 5th. Royal Bank of Canada reduced their target price on shares of Amgen from $324.00 to $320.00 and set an "outperform" rating for the company in a report on Friday, May 2nd. Mizuho boosted their price objective on Amgen from $235.00 to $280.00 and gave the company a "neutral" rating in a research note on Wednesday, May 7th. Finally, Bank of America lifted their price target on shares of Amgen from $275.00 to $294.00 and gave the company an "underperform" rating in a report on Wednesday, March 5th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Amgen currently has an average rating of "Hold" and a consensus price target of $309.22.

Amgen Stock Up 1.1%

NASDAQ:AMGN traded up $3.23 during trading hours on Friday, reaching $290.33. The company's stock had a trading volume of 1,996,092 shares, compared to its average volume of 2,806,485. The stock has a 50 day moving average price of $281.91 and a two-hundred day moving average price of $285.36. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $346.85. The company has a debt-to-equity ratio of 9.62, a quick ratio of 0.95 and a current ratio of 1.26. The company has a market capitalization of $156.11 billion, a P/E ratio of 38.45, a price-to-earnings-growth ratio of 2.63 and a beta of 0.51.

Amgen (NASDAQ:AMGN - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The medical research company reported $4.90 EPS for the quarter, beating analysts' consensus estimates of $4.18 by $0.72. The company had revenue of $8.15 billion during the quarter, compared to analysts' expectations of $8.05 billion. Amgen had a return on equity of 176.32% and a net margin of 12.24%. The firm's revenue was up 9.4% compared to the same quarter last year. During the same period last year, the business posted $3.96 earnings per share. Equities analysts predict that Amgen Inc. will post 20.62 EPS for the current fiscal year.

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.