Mediolanum International Funds Ltd Sells 3,230 Shares of Amgen Inc. (NASDAQ:AMGN)

Key Points

• Mediolanum International Funds Ltd reduced its stake in Amgen Inc. by 13.2%, selling 3,230 shares and holding 21,309 shares worth approximately $6.54 million at the end of the quarter.
• Amgen reported earnings of $4.90 per share for the last quarter, exceeding the consensus estimate of $4.18 and showing a revenue increase of 9.4% compared to the same period last year.
• Multiple analysts have given mixed ratings on Amgen, with a consensus rating of "Hold" and a target price averaging around $307.27.

Mediolanum International Funds Ltd lowered its stake in Amgen Inc. (NASDAQ:AMGN - Free Report) by 13.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 21,309 shares of the medical research company's stock after selling 3,230 shares during the quarter. Mediolanum International Funds Ltd's holdings in Amgen were worth $6,541,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Brighton Jones LLC raised its position in shares of Amgen by 23.5% during the 4th quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company's stock valued at $7,159,000 after purchasing an additional 5,226 shares during the period. Arrowstreet Capital Limited Partnership bought a new stake in Amgen in the 4th quarter valued at $8,798,000. Portland Global Advisors LLC increased its holdings in Amgen by 0.9% in the 4th quarter. Portland Global Advisors LLC now owns 23,755 shares of the medical research company's stock valued at $6,192,000 after acquiring an additional 205 shares during the last quarter. Joseph Group Capital Management increased its holdings in Amgen by 15.1% in the 4th quarter. Joseph Group Capital Management now owns 9,934 shares of the medical research company's stock valued at $2,589,000 after acquiring an additional 1,301 shares during the last quarter. Finally, CIBC Private Wealth Group LLC increased its holdings in Amgen by 3.4% in the 4th quarter. CIBC Private Wealth Group LLC now owns 328,563 shares of the medical research company's stock valued at $86,810,000 after acquiring an additional 10,946 shares during the last quarter. Hedge funds and other institutional investors own 76.50% of the company's stock.

Amgen Trading Up 0.0%

Amgen stock traded up $0.14 during trading hours on Thursday, hitting $301.51. The company had a trading volume of 514,893 shares, compared to its average volume of 2,901,041. The firm has a market cap of $162.12 billion, a P/E ratio of 27.46, a P/E/G ratio of 2.63 and a beta of 0.49. The company has a debt-to-equity ratio of 8.70, a quick ratio of 0.88 and a current ratio of 1.17. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $340.89. The company has a 50-day moving average price of $291.07 and a two-hundred day moving average price of $291.49.

Amgen (NASDAQ:AMGN - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The medical research company reported $4.90 EPS for the quarter, beating the consensus estimate of $4.18 by $0.72. Amgen had a net margin of 17.39% and a return on equity of 176.11%. The business had revenue of $8.15 billion during the quarter, compared to analyst estimates of $8.05 billion. During the same quarter in the previous year, the business posted $3.96 EPS. The company's quarterly revenue was up 9.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Amgen Inc. will post 20.62 earnings per share for the current year.

Wall Street Analyst Weigh In

AMGN has been the topic of a number of research reports. Cantor Fitzgerald reiterated a "neutral" rating and issued a $305.00 price target on shares of Amgen in a report on Tuesday, June 24th. Guggenheim assumed coverage on shares of Amgen in a report on Tuesday, May 20th. They issued a "neutral" rating and a $288.00 target price on the stock. William Blair restated an "outperform" rating on shares of Amgen in a report on Tuesday, June 24th. Mizuho boosted their target price on shares of Amgen from $235.00 to $280.00 and gave the stock a "neutral" rating in a report on Wednesday, May 7th. Finally, Erste Group Bank downgraded shares of Amgen from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 8th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $307.27.

Insider Activity at Amgen

In related news, SVP Rachna Khosla sold 1,500 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the senior vice president owned 8,162 shares in the company, valued at $2,364,368.16. The trade was a 15.52% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.76% of the stock is currently owned by company insiders.

Amgen 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.