Sowell Financial Services LLC Has $3.25 Million Position in Amgen Inc. (NASDAQ:AMGN)

Sowell Financial Services LLC decreased its position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 9.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 10,419 shares of the medical research company's stock after selling 1,054 shares during the quarter. Sowell Financial Services LLC's holdings in Amgen were worth $3,246,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Centricity Wealth Management LLC bought a new stake in shares of Amgen during the 4th quarter valued at $25,000. Pinney & Scofield Inc. acquired a new stake in shares of Amgen during the fourth quarter worth $26,000. Ritter Daniher Financial Advisory LLC DE increased its holdings 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 purchasing an additional 51 shares during the last quarter. Synergy Investment Management LLC acquired a new position in Amgen in the fourth quarter valued at about $34,000. Finally, Atala Financial Inc acquired a new position in Amgen in the fourth quarter valued at about $34,000. 76.50% of the stock is currently owned by institutional investors.

Amgen Stock Up 0.1%

Shares of AMGN stock opened at $295.56 on Tuesday. The firm's fifty day moving average price is $281.64 and its two-hundred day moving average price is $285.75. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 9.62. Amgen Inc. has a 1 year low of $253.30 and a 1 year high of $346.85. The firm has a market capitalization of $158.92 billion, a P/E ratio of 39.15, a PEG ratio of 2.63 and a beta of 0.51.

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

Insider Buying and Selling at Amgen

In related news, SVP Rachna Khosla sold 1,500 shares of Amgen stock in a transaction dated Thursday, June 5th. The stock was 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 now owns 8,162 shares in the company, valued at approximately $2,364,368.16. This trade represents a 15.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.76% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently commented on AMGN shares. Wall Street Zen raised Amgen from a "buy" rating to a "strong-buy" rating in a research note on Sunday, May 18th. Mizuho boosted their price objective on shares of Amgen from $235.00 to $280.00 and gave the company a "neutral" rating in a report on Wednesday, May 7th. Morgan Stanley reiterated an "equal weight" rating on shares of Amgen in a report on Friday, May 2nd. Cantor Fitzgerald assumed coverage on shares of Amgen in a research report on Tuesday, April 22nd. They set a "neutral" rating and a $305.00 price target on the stock. Finally, UBS Group restated a "neutral" rating and issued a $315.00 price objective (down previously from $319.00) on shares of Amgen in a research report on Friday, May 2nd. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $309.22.

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.

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