Radnor Capital Management LLC Reduces Stock Holdings in Amgen Inc. (NASDAQ:AMGN)

Radnor Capital Management LLC reduced its stake in Amgen Inc. (NASDAQ:AMGN) by 2.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,869 shares of the medical research company’s stock after selling 166 shares during the period. Radnor Capital Management LLC’s holdings in Amgen were worth $2,140,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Beck Mack & Oliver LLC increased its holdings in shares of Amgen by 0.7% during the 4th quarter. Beck Mack & Oliver LLC now owns 4,623 shares of the medical research company’s stock valued at $1,205,000 after acquiring an additional 34 shares during the last quarter. Continuum Advisory LLC boosted its stake in Amgen by 0.7% during the 4th quarter. Continuum Advisory LLC now owns 5,154 shares of the medical research company’s stock valued at $1,343,000 after purchasing an additional 35 shares during the period. Zullo Investment Group Inc. boosted its stake in Amgen by 2.8% during the 4th quarter. Zullo Investment Group Inc. now owns 1,364 shares of the medical research company’s stock valued at $356,000 after purchasing an additional 37 shares during the period. Trillium Asset Management LLC boosted its stake in Amgen by 4.2% during the 4th quarter. Trillium Asset Management LLC now owns 911 shares of the medical research company’s stock valued at $237,000 after purchasing an additional 37 shares during the period. Finally, Great Lakes Retirement Inc. boosted its stake in Amgen by 0.4% during the 4th quarter. Great Lakes Retirement Inc. now owns 10,220 shares of the medical research company’s stock valued at $2,664,000 after purchasing an additional 38 shares during the period. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

Amgen Stock Up 1.1%

NASDAQ AMGN opened at $290.33 on Friday. The stock has a fifty day moving average of $281.57 and a 200-day moving average of $285.44. The stock has a market capitalization of $156.11 billion, a P/E ratio of 38.45, a price-to-earnings-growth ratio of 2.63 and a beta of 0.51. Amgen Inc. has a 52 week low of $253.30 and a 52 week high of $346.85. The company has a debt-to-equity ratio of 9.62, a quick ratio of 0.95 and a current ratio of 1.26.

Amgen (NASDAQ:AMGN) last released its 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 return on equity of 176.32% and a net margin of 12.24%. The company had revenue of $8.15 billion during the quarter, compared to analysts’ expectations of $8.05 billion. During the same period last year, the firm earned $3.96 EPS. The business’s revenue for the quarter was up 9.4% on a year-over-year basis. On average, equities research analysts forecast that Amgen Inc. will post 20.62 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Mizuho raised their price objective on Amgen from $235.00 to $280.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 7th. Johnson Rice set a $294.00 price objective on Amgen in a research report on Wednesday, March 5th. Cantor Fitzgerald initiated coverage on Amgen in a research report on Tuesday, April 22nd. They set a “neutral” rating and a $305.00 target price for the company. Erste Group Bank downgraded Amgen from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 8th. Finally, Piper Sandler cut their target price on Amgen from $329.00 to $328.00 and set an “overweight” rating for the company in a research report on Friday, May 16th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, Amgen currently has an average rating of “Hold” and an average price target of $309.22.

Insiders Place Their Bets

In other Amgen 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 transaction, the senior vice president now directly owns 8,162 shares in the company, valued at approximately $2,364,368.16. The trade was a 15.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.76% of the company’s stock.

About Amgen

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.