New Century Financial Group LLC Sells 1,870 Shares of Amgen Inc. (NASDAQ:AMGN)

New Century Financial Group LLC cut its stake in Amgen Inc. (NASDAQ:AMGN - Free Report) by 62.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,146 shares of the medical research company's stock after selling 1,870 shares during the quarter. New Century Financial Group LLC's holdings in Amgen were worth $357,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Centricity Wealth Management LLC acquired a new stake in shares of Amgen in the fourth quarter valued at approximately $25,000. Pinney & Scofield Inc. acquired a new stake in shares of Amgen in the fourth quarter valued at approximately $26,000. Ritter Daniher Financial Advisory LLC DE boosted its position in Amgen by 66.2% during the fourth quarter. Ritter Daniher Financial Advisory LLC DE now owns 128 shares of the medical research company's stock worth $33,000 after purchasing an additional 51 shares during the period. Synergy Investment Management LLC acquired a new position in Amgen in the 4th quarter valued at about $34,000. Finally, Atala Financial Inc acquired a new position in shares of Amgen in the fourth quarter valued at approximately $34,000. 76.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on AMGN. 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. Piper Sandler lowered their price target on shares of Amgen from $329.00 to $328.00 and set an "overweight" rating for the company in a report on Friday, May 16th. Morgan Stanley reiterated an "equal weight" rating on shares of Amgen in a research report on Friday, May 2nd. Wall Street Zen upgraded Amgen from a "buy" rating to a "strong-buy" rating in a research report on Sunday, May 18th. Finally, Bank of America upped their price target on shares of Amgen from $275.00 to $294.00 and gave the company an "underperform" rating in a research report on Wednesday, March 5th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $309.22.

Insider Transactions 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 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 now owns 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 filing with the SEC, which is available through the SEC website. Company insiders own 0.76% of the company's stock.

Amgen Price Performance

Shares of NASDAQ:AMGN traded down $2.07 on Friday, hitting $295.22. The company's stock had a trading volume of 2,191,182 shares, compared to its average volume of 2,816,232. The company has a market capitalization of $158.74 billion, a PE ratio of 39.10, a PEG ratio of 2.63 and a beta of 0.51. The company has a debt-to-equity ratio of 9.62, a current ratio of 1.26 and a quick ratio of 0.95. The company has a 50-day simple moving average of $281.33 and a 200 day simple moving average of $285.58. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $346.85.

Amgen (NASDAQ:AMGN - Get Free Report) last issued its quarterly earnings results 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. Amgen had a net margin of 12.24% and a return on equity of 176.32%. The firm had revenue of $8.15 billion for the quarter, compared to analyst estimates of $8.05 billion. During the same quarter in the prior year, the firm earned $3.96 EPS. The business's revenue for the quarter was up 9.4% compared to the same quarter last year. Sell-side analysts forecast that Amgen Inc. will post 20.62 EPS for the current fiscal year.

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.