Amgen Inc. (NASDAQ:AMGN) Holdings Trimmed by UMB Bank n.a.

UMB Bank n.a. cut its holdings in Amgen Inc. (NASDAQ:AMGN) by 6.2% during the 1st quarter, Holdings Channel.com reports. The fund owned 30,655 shares of the medical research company’s stock after selling 2,030 shares during the quarter. UMB Bank n.a.’s holdings in Amgen were worth $9,551,000 at the end of the most recent reporting period.

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

Insider Activity at Amgen

In other Amgen news, SVP Rachna Khosla sold 1,500 shares of the stock in a transaction that occurred on 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 owns 8,162 shares in the company, valued at $2,364,368.16. This trade represents a 15.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.76% of the stock is owned by company insiders.

Amgen Stock Up 1.1%

Amgen stock opened at $290.33 on Friday. The company has a market capitalization of $156.11 billion, a P/E ratio of 38.45, a P/E/G ratio of 2.63 and a beta of 0.51. Amgen Inc. has a 1-year low of $253.30 and a 1-year high of $346.85. The firm’s fifty day simple moving average is $281.57 and its 200-day simple moving average is $285.42. 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 (NASDAQ:AMGN) last posted its earnings results on Thursday, May 1st. The medical research company reported $4.90 earnings per share for the quarter, beating the consensus estimate of $4.18 by $0.72. The company 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 revenue was up 9.4% compared to the same quarter last year. During the same period last year, the company earned $3.96 earnings per share. Sell-side analysts forecast that Amgen Inc. will post 20.62 earnings per share for the current fiscal year.

Analysts Set New Price Targets

AMGN has been the subject of a number of recent analyst reports. Piper Sandler decreased their price target on Amgen from $329.00 to $328.00 and set an “overweight” rating for the company in a research report on Friday, May 16th. Wall Street Zen raised shares of Amgen from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 18th. Johnson Rice set a $294.00 target price on shares of Amgen in a research report on Wednesday, March 5th. UBS Group restated a “neutral” rating and issued a $315.00 price target (down previously from $319.00) on shares of Amgen in a research report on Friday, May 2nd. Finally, Mizuho lifted their price objective on shares of Amgen from $235.00 to $280.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 7th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Amgen presently has an average rating of “Hold” and a consensus price target of $309.22.

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.