New England Research & Management Inc. Sells 2,926 Shares of Amgen Inc. (NASDAQ:AMGN)

New England Research & Management Inc. trimmed its holdings in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 53.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,543 shares of the medical research company's stock after selling 2,926 shares during the quarter. New England Research & Management Inc.'s holdings in Amgen were worth $792,000 as of its most recent filing with the SEC.

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

Insider Transactions at Amgen

In other news, SVP Rachna Khosla sold 1,500 shares of Amgen stock in a transaction 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 sale, the senior vice president now directly 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.76% of the stock is currently owned by insiders.

Amgen Price Performance

Shares of NASDAQ:AMGN traded up $0.32 during trading on Monday, hitting $295.54. 1,008,360 shares of the company were exchanged, compared to its average volume of 2,813,504. The business's 50 day moving average is $281.33 and its 200-day moving average is $285.66. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $346.85. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 9.62. The company has a market capitalization of $158.91 billion, a P/E ratio of 39.14, a price-to-earnings-growth ratio of 2.63 and a beta of 0.51.

Amgen (NASDAQ:AMGN - Get Free Report) last posted its quarterly earnings data 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. The firm had revenue of $8.15 billion during the quarter, compared to analyst estimates of $8.05 billion. Amgen had a net margin of 12.24% and a return on equity of 176.32%. The company's revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter last year, the business posted $3.96 EPS. Equities analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on AMGN shares. Piper Sandler reduced their target price on shares of Amgen from $329.00 to $328.00 and set an "overweight" rating for the company in a research note on Friday, May 16th. Guggenheim assumed coverage on shares of Amgen in a research note on Tuesday, May 20th. They set a "neutral" rating and a $288.00 target price for the company. Royal Bank of Canada cut their price objective on Amgen from $324.00 to $320.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. UBS Group reiterated a "neutral" rating and set a $315.00 price objective (down previously from $319.00) on shares of Amgen in a research report on Friday, May 2nd. Finally, Erste Group Bank downgraded Amgen from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 8th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $309.22.

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.