Mirae Asset Global Investments Co. Ltd. Cuts Stake in Amgen Inc. (NASDAQ:AMGN)

Mirae Asset Global Investments Co. Ltd. cut its stake in Amgen Inc. (NASDAQ:AMGN - Free Report) by 1.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 487,750 shares of the medical research company's stock after selling 7,398 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned approximately 0.09% of Amgen worth $149,730,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in AMGN. Money Concepts Capital Corp increased its holdings in shares of Amgen by 1.1% during the 1st quarter. Money Concepts Capital Corp now owns 9,209 shares of the medical research company's stock valued at $2,869,000 after acquiring an additional 96 shares during the last quarter. Achmea Investment Management B.V. increased its holdings in shares of Amgen by 1,266.0% during the 1st quarter. Achmea Investment Management B.V. now owns 150,421 shares of the medical research company's stock valued at $46,863,000 after acquiring an additional 139,409 shares during the last quarter. Waverton Investment Management Ltd acquired a new position in shares of Amgen during the 1st quarter valued at about $222,000. Quilter Plc grew its position in shares of Amgen by 6.5% in the first quarter. Quilter Plc now owns 3,765 shares of the medical research company's stock valued at $1,173,000 after purchasing an additional 231 shares during the last quarter. Finally, Jaffetilchin Investment Partners LLC grew its position in shares of Amgen by 35.3% in the first quarter. Jaffetilchin Investment Partners LLC now owns 5,357 shares of the medical research company's stock valued at $1,669,000 after purchasing an additional 1,397 shares during the last quarter. Institutional investors and hedge funds own 76.50% of the company's stock.

Insider Buying and Selling

In other Amgen news, SVP Rachna Khosla sold 1,500 shares of Amgen stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $289.68, for a total value of $434,520.00. Following the sale, the senior vice president now owns 8,162 shares of the company's stock, valued at approximately $2,364,368.16. The trade was a 15.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.76% of the stock is owned by corporate insiders.

Amgen Stock Down 0.7%

NASDAQ:AMGN traded down $1.98 during trading hours on Friday, reaching $277.13. The company had a trading volume of 2,894,198 shares, compared to its average volume of 2,830,308. 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 firm has a market cap of $149.02 billion, a price-to-earnings ratio of 25.29, a P/E/G ratio of 2.51 and a beta of 0.51. The business's 50-day simple moving average is $281.02 and its two-hundred day simple moving average is $286.11. Amgen Inc. has a twelve month low of $253.30 and a twelve month high of $346.85.

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

Analyst Ratings Changes

AMGN has been the topic of several research analyst reports. William Blair reaffirmed an "outperform" rating on shares of Amgen in a research report on Tuesday, June 24th. Erste Group Bank downgraded Amgen from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 8th. Piper Sandler reaffirmed an "overweight" rating and issued a $328.00 price target on shares of Amgen in a research report on Friday. Royal Bank Of Canada lowered their price target on Amgen from $324.00 to $320.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. Finally, Guggenheim started coverage on shares of Amgen in a research note on Tuesday, May 20th. They issued a "neutral" rating and a $288.00 target price for the company. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $307.82.

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.